November 10, 2022
Peer Groups: ISS Window Opens Next Week
ISS has announced that for companies with annual meetings between February 1st and September 15th of next year, its peer group review & submission window will open next Thursday, November 17th – and will close at 8pm ET on Monday, December 5th. 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 here.
With the SEC’s new pay versus performance rules requiring new disclosures that compare company performance to the performance of a peer group, companies may be taking an even closer look at their peer group this year, and it may be worth informing ISS of any changes.
– Liz Dunshee