November 11, 2021
Peer Groups: ISS Window Opens Monday
Yesterday, ISS announced that for companies with annual meetings between February 1st and September 15th of next year, its peer group review & submission window will open this upcoming Monday, November 15th – and will close at 8pm ET on Friday, December 3rd. ISS opens this window twice per year for companies to provide input (but note that the company-submitted peers are just one factor in the ISS determination process). Here’s more detail:
Companies that have made no changes to their previous proxy-disclosed executive compensation benchmarking peers, or companies that do not wish to provide this information in advance, are under no obligation to participate. For companies that do not submit any information, the proxy-disclosed peers from the company’s last proxy filing will automatically be factored into ISS’ peer group construction process.
Additional information on the ISS peer submission process, including links to ISS’ current recent peer selection methodology for the U.S., Canada, and Europe is available on the ISS website.
Participation in this window has been more relevant the last couple of years, because the changing business environment means that industry & market competitors – and overall competition for talent – is shifting. This Longnecker blog explains why creating & maintaining an appropriate peer group is an important exercise with both proxy disclosure and human capital implications, and walks through 5 factors to consider.
– Liz Dunshee