ISS and Equilar both recently opened up their peer group submission periods. This will enable companies to update the peer groups that they will report in their next proxy statement to ensure that these groups are reflected in both ISS’s and Equilar’s records (Note: Equilar uses this information to determine the Equilar Market Peer Group that is used by Glass Lewiss in its pay for performance analysis and the proxy voting groups of a number of institutional shareholders).
ISS’s peer group submission runs from 9 am EST on Tuesday, November 24th until 8 PM EST on Friday December 11th.
- Only companies with shareholder meetings between February 1, 2016 and September 16, 2016 are invited to participate.
- For the first time ISS will include companies in the Russell MicroCap Index.
- Only companies that have made changes to their peer groups (from the peer groups disclosed in their last proxy) need to submit information to ISS
- Peers submitted should be the peers used to set compensation for the fiscal year that will be disclosed in the next proxy.
- Companies can begin the peer group submission process at: ISS Peer Group Submission
- Companies submitting new peer companies must follow-up their submissions with a letter on company letterhead (in PDF) with the full list of peers submitted online.
Equilar’s peer group update window runs from November 16th through December 31st.
- The peer group update is recommended for companies that file proxy statements between January 15, 2016 and July 15, 2016.
- More information about the Equilar peer group validation process can be found here: Equilar Peer Group Validation
- Equilar has also published a FAQ on its Peer Group Update process, available at: Equilar Peer Group Update FAQ