Companies Can Note Changes Through December 8
ROCKVILLE, M.D. (6 November 2017) – Institutional Shareholder Services Inc. (“ISS”), the leading provider of end-to-end corporate governance and responsible investment solutions to the global financial community, today announced the scheduled November 20 opening of its peer group submission and review window for companies in the United States, Europe, and Canada.
As part of ISS’ peer group construction process, on a semi-annual basis in the U.S. and Canada, and on an annual basis in Europe, companies may submit changes they have made to their self-selected peer groups for their next proxy disclosure. ISS considers companies’ self-selected peer groups as an important input as part of its own peer group construction methodology.
The pending ISS peer submission and review window will be available for U.S. and Canadian companies with annual meetings slated to be held between February 1, 2018, and September 15, 2018, and for European companies between February 1, 2018, and January 31, 2019. Submissions should reflect peer companies used (or to be used) by the submitting company for pay-setting for the fiscal year ending prior to the company’s next upcoming annual meeting. Companies should not use the peer submission process as an opportunity to convey to ISS what they may deem an appropriate peer group for ISS to construct. A company’s self-selected group is an input into, but not necessarily determinative of, the peer group ISS will select. All companies are encouraged to review their peer group irrespective of changes.
The window for submissions will open at 9:00 AM EST on Monday, November 20, 2017, and will close at 8:00 PM EST on Friday, December 8, 2017.
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, do not need to participate. For companies that do not submit changes, 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’ most recent peer selection methodology for the U.S. and Canada, is available on the ISS website here.
