Newsletters

Proxy Advisor Policy Changes for 2018 (Jan. 2018)

Institutional Shareholder Services (ISS) and Glass Lewis recently announced changes to their U.S. benchmark voting policies, which will take effect for annual meetings occurring on or after Jan. 1, 2018 (Glass Lewis) and Feb. 1, 2018 (ISS). ISS has also issued frequently asked question (FAQ) documents dealing with executive compensation. In January, it plans to add proxy voting guidelines on new shareholder resolutions anticipated for 2018.

ISS’s primary revisions are limited to a few topics—poison pills, director compensation, and shareholder proposals on gender pay equity—and are largely in keeping with the draft policies it released in October. ISS has additionally made minor modifications and clarifications to other policies that were not included in its draft review.

In contrast, Glass Lewis’s policy updates are more drastic in nature, though some do not take effect until 2019. These include taking action against boards that lack gender diversity, hold virtual-only annual meetings, go public with dual-class stock, or are unresponsive to significant shareholder opposition votes. Noteworthy is that ISS covered many of these topics in its fall policy consultation but refrained from making any related policy changes for the upcoming proxy season.

The proxy advisors’ policy updates are discussed in more detail in our December newsletter, which may be downloaded from the link below.

Click here to download

Access All Alliance Advisors Whitepapers Now

Enter your information below to receive unlimited access to exclusive industry content and analysis from Alliance Advisors.

Newsletter Subscribe

Current Whitepapers

Updated January 2018: Proxy Access – Issuer List

01/05/2018 Alliance Advisors LLC

This is an updated list of issuers that have adopted Proxy Access,...  

Updated February 2017: Proxy Access – Issuer List

02/01/2017 Alliance Advisors LLC

This is an updated list of issuers that have adopted Proxy Access,...  

About Us

Changing the Shareholder Communication Conversation

Alliance Advisors is a multi-faceted proxy solicitation and advisory firm that understands success lies in evolving with our clients and their needs.

Learn More