Executive compensation experts shared with Bloomberg BNA their insight regarding the 2017 proxy voting guidelines issued by Institutional Shareholder Services (ISS) and Glass Lewis. The experts generally characterized the updates as modest, but advised companies to review the guidelines for the 2017 proxy season.
Proxy voting guidelines provide shareholders with voting recommendations on executive compensation and corporate governance issues. The updated guidelines apply to annual shareholder meetings held on or after Feb. 1, 2017.
1) ISS introduced new financial metrics to analyze CEO pay for performance to supplement total shareholder return (TSR) analysis.
2) The 2017 proxy voting guidelines were silent regarding frequency of say-on-pay votes.
3) The 2017 proxy guidelines emphasized policies regarding director compensation and associated corporate governance issues.
4) The 2017 proxy guidelines contained changes regarding the review of equity plans requiring minor action by companies.
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