ISS Peer Group Submission Window Open Until 8 pm Eastern on Dec. 9

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ISS announced that the window period for public companies to submit updates for their peer groups is open and will close at 8 pm Eastern on December 9, 2016.

The peer group submissions are now handled through ISS Corporate Solutions’ Governance Analytics website.  Only companies (issuers) may submit their peer groups to ISS.

What peer companies is ISS seeking?  Those that were used to set pay that is required to be covered in the next proxy to be filed. For example, for calendar-year companies, their 2017 proxies will cover 2016 pay and pay decisions. Therefore, ISS is seeking the peer group used for setting/considering 2016 pay, not the peer group used for setting/considering 2017 pay (which would be required to be disclosed in the 2018 proxy). If a company has not made any changes to its 2016 peer group compared to its 2015 peer group, it does not have to submit anything to ISS.  If a company has made changes to its 2016 peer group, it should seriously consider submitting this peer group to ISS during the window period to ensure that the 2017 ISS proxy report accurately reflects the company’s 2016 peer group as disclosed in the proxy.  Failure to submit an updated peer group for 2016 will mean that ISS will likely use the company’s 2015 peer group in its 2017 proxy report.

For more information about the peer group submission process, companies can visit this ISS website:

ISS and Glass Lewis (Equilar) Peer Group Submissions Open

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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