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ISS Issues 2012 Burn Rate Caps

ISS recently released its 2012 Burn Rate Caps as part of its 2012 U.S. Proxy Voting Summary Guidelines (December 19, 2011), p. 44, available at http://www.issgovernance.com/files/2012USSummaryGuidelines.pdf

The presentation below includes these burn rate caps as well as a chart looking at how the caps have changed from 2009 through 2012.

 Update: After posting this, I discovered that with its December 1, 2011 quarterly download, ISS Research is now using a 3-year observation period for stock price volatility in both the Shareholder Value Transfer (SVT) and burn rate tests. The 200-day annualized volatility is no longer being used.