November 19, 2024
ISS Launches Comment Period for Changes to Benchmark Voting Policies
Yesterday, ISS announced the launch of its open comment period on proposed changes to its benchmark voting policies. During this open comment period, ISS gathers views from stakeholders on its proposed voting policy changes for 2025 (and beyond). The comment period closes at 5:00 p.m. Eastern time on December 2.
It looks like 2025 will be another light year for benchmark policy changes. The summary highlights that ISS is soliciting comments for the following policy changes in the U.S. market:
Three policy changes proposed for the U.S. are included for comment. The upcoming and potential future policy changes for the U.S. are as follows:
– Policy clarification regarding poison pills in the U.S.;
– Policy update regarding extension proposals presented by Special Purpose Acquisition Corporations (SPACs); and
– Policy update to replace the reference to “General Environmental Proposals” by the updated reference of “Natural Capital-Related and/or Community Impact Assessment Proposals”, without material changes to the existing policy application.In addition, we have also provided a summary of ongoing considerations related to U.S. executive compensation policy on the use of performance- vs. time-based equity awards, including a planned change in policy application for 2025 (under the current policy). Specific questions on this topic are also included that will contribute to future potential policy changes, and comments are invited.
– Meredith Ervine