ISS Launches New Equity Plan Data Verification Portal
Institutional Shareholder Services, Inc. (ISS) recently announced that as part of its “commitment to advancing the level of transparency and engagement” in its data collection process they have opened a new Equity Plan Data Verification portal for U.S. companies. This new portal will provide U.S. companies including an equity plan on the ballot in any proxy statement filed after September 8, 2014 the ability to verify key data points underlying ISS’ evaluation of the plan.
Companies must register with ISS to receive notification of the availability of their data on the portal. Upon receiving notification, companies have two business days (9:00 a.m. ET on the first day until 9:00 p.m. ET on the second day) to verify the data and/or request modifications.
We strongly encourage companies that are proposing a new/amended equity plan to review the data in the equity plan portal in order to correct any errors prior to ISS making a recommendation. If you wish to discuss further, please don’t hesitate to contact us.