Glass Lewis and ISS Release Policy Updates for 2018 - December 5, 2017
Glass Lewis recently published its 2018 proxy voting guidelines. The guidelines include additional clarification on pay-for-performance alignment, how Glass Lewis will consider the CEO Pay Ratio disclosure, and how Boards should respond to shareholder dissent on shareholder proposals.
ISS Releases Proxy Voting Policy Updates for 2018 - November 21, 2017
Last week, Institutional Shareholder Services (“ISS”) published changes to its annual proxy voting guidelines that will go into effect for shareholder meetings on or after February 1, 2018. Several of the changes relate to executive and director compensation as ISS created some new policies and updated other existing practices.
Tax Reform Bill Overhauls Executive Compensation As We Know It - November 8, 2017
Last week, the House of Representatives released the “Tax Cuts and Jobs Act.” The proposed tax code comes with some major changes for US corporations with respect to executive compensation. These new regulations would apply to taxable years beginning after December 31, 2017. Below are highlights from the executive compensation-related provisions of Sections 3801, 3802, and 3803 of the Bill, as well as potential implications for executive compensation design.
ISS Announces QualityScore Methodology Changes - November 1, 2017
On October 30, 2017, Institutional Shareholder Services (“ISS”) announced methodology changes to QualityScore, ISS’ governance risk scoring system and analytical tool. Companies will continue to be scored across four governance pillars: Compensation / Remuneration, Board Structure, Audit and Risk Oversight, and Shareholder Rights. However, effective December 4, 2017, subscribers will be able to compare 21 key factors, or Global Core Factors, across global markets within these pillars. Global Core Factors are shared across all countries/regions under QualityScore (with the exception of Japan). Previously, there were only 6 Global Core Factors.
NYC Prohibits Employers From Requesting Applicant Compensation History - October 31, 2017
Effective October 31, 2017, New York City employers are prohibited from asking job applicants to disclose their prior compensation history or from requesting such information from the applicant’s current or prior employers. This is a result of a law approved by New York City Mayor, Bill de Blasio, in May. Additionally, if applicants voluntarily disclose their compensation history, employers are unable to use this information to determine future compensation. The intended purpose of the bill is to prevent gender and racial-based wage inequality.
The NASPP Blog recently featured Yonat Assayag of ClearBridge Compensation Group in their “Meet the Speaker” series.