ISS and Glass Lewis 2013 Executive Compensation Policies
Both ISS and Glass Lewis recently released final policy guidelines for the 2013 proxy season. The primary executive compensation related changes have been highlighted below. Complete details for the ISS policy guidelines can be found here and for Glass Lewis can be found here. Some of the concepts included in the new ISS policy guidelines remain undefined; the FAQs, which provide additional information about how these policies will be applied in practice, are expected in December.
The ISS guidelines will be effective for all companies with annual meetings on or after February 1, 2013. Glass Lewis did not provide an effective date for their policies, although the release makes it clear that the changes are applicable to the 2013 proxy season.