The Advisors' Blog

– Liz Dunshee

Lynn blogged a few months ago that peer groups might shift more this year due to the pandemic and resulting economic fallout. So although there’s no requirement to do so, there may be more reason this year to give input to ISS on what that group will look like. For companies that have meetings between September 16th & January 31st, the window to give input is open until this Friday – specifically, 8pm ET. Here’s more info from this Davis Polk blog:

As one input in its peer group selection methodology, ISS will generally look to the peer group disclosed in the company’s last proxy and utilized by the company in determining CEO pay. However, ISS will also consider modifications or changes the company has made to the peer group since the last proxy disclosure or if the company anticipates making changes to the group in connection with the next proxy disclosure. Particularly given the COVID-19 pandemic and the ensuing stock market dislocation, companies may be considering changes to their self-selected peer groups and, if so, these companies should consider submitting any appropriate peer group updates prior to the July 17 deadline.

The blog notes that the ISS website provides an overview of the submission process – as well as FAQs.