Self-Selected Peer Group Changes: Window to Submit Updates Begins July 6, 2020
Corporations wishing to submit changes to their self-selected peer group for proxy disclosure have a short window that commences next Monday, July 6, 2020 at 9:00 AM EST. Institutional Shareholders Services (ISS) published the announcement last week.
Given that the start date follows what for many will be a long holiday window, and covers only 2 workweeks, we’re sharing the announcement as a reminder to organizations that need to make changes to their self-selected peers
ISS Announces Peer Group Submission Window to Open July 6
Companies Can Note Changes Through July 17
ROCKVILLE, Md. (June 26, 2020) – 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 July 6 opening of its peer group submission window for impacted corporations in the U.S. and Canada.
As part of ISS’ peer group construction process, on a semi-annual basis, corporations are requested to 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 window will be available for U.S. and Canadian companies with annual meetings slated to be held between September 16, 2020, and January 31, 2021. 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.
The window for submissions will open at 9:00 AM EDT on Monday, July 6, 2020, and will close at 8:00 PM EDT on Friday, July 17, 2020.
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’ current recent peer selection methodology for the U.S. and Canada is available on the ISS website here.
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