In the Advisor’s Blog on CompensationStandards.com, Liz covers a recent announcement by Glass Lewis that it has launched of an Equity Plan Advisory service – through a newly formed affiliate, Glass Lewis Corporate. This service appears to be similar to that provided by ISS Corporate Solutions. The Glass Lewis press release states:
Public companies can work with a Glass Lewis Corporate advisor to model their equity compensation plan against the Glass Lewis model. Advisors will review plans with customers, testing different new-share requests and equity plan amendments against Glass Lewis’ methodology, examining multiple what-if scenarios. Glass Lewis maintains a strict separation between Glass Lewis Corporate advisors and Glass Lewis research analysts in order to ensure the continued independence of our proxy advice.
As Liz notes, this new business model could draw some criticism, as Glass Lewis starts to look more like ISS with this foray into counseling the same companies that are the subject of its recommendations.
– Dave Lynn