Institutional Investors, Companies and Corporate Governance Market Constituents Invited to Provide Input into ISS’ 2015 Proxy Voting Guidelines
This year the survey will cover a number of key issues for consideration for the 2015 proxy season, including the evaluation of equity plans, board diversity, jurisdictional approaches to the application of ISS policies, and pay for performance evaluations.
“Survey questions this year cover a range of issues, globally, including those related to board diversity, reporting on environmental and social performance goals, and the relationship between goal-setting and award values when evaluating pay for performance,” said Dr. Martha Carter, ISS’ Head of Global Research and Policy “Specific to the U.S., this year’s survey will also gauge views on the importance of company practices, cost, and features relative to ISS’ evaluation of equity plans, which is timely given the sharper focus on such resolutions at U.S. companies this proxy season. Market input on this particular issue will facilitate plans to implement a ‘balanced scorecard’ approach for ISS’ assessment of stock plan proposals.”
In addition to its global survey, ISS will conduct a variety of regionally-based, topic-specific roundtables and conference calls to drill into local market best practices which factor into the development of ISS’ benchmark policy guidelines.
ISS will then open a 30-day comment period for all interested market participants. The open comment period is designed to elicit objective, specific feedback from investors, corporate issuers and other industry constituents on the practical implementation of proposed policy updates as well as new policies.
The timeline for the annual policy formulation process is as follows:
|July 17||Policy Survey is distributed and survey opens|
|August/September||Regional market roundtables and outreach|
|August 29||Policy Survey closes|
|Middle of September||Survey results released|
|October||Open comment period|
|November||Final policy updates released|
|February 1||Effective date for the implementation of ISS’ 2015 benchmark voting policies|
Learn more about ISS’ policy formulation process here.