On November 6, 2023, Institutional Shareholder Services, Inc. (ISS) announced the scheduled November 20 opening of its peer group submission window for U.S. and Canadian companies with annual meetings slated to be held between January 15, 2024, and September 30, 2024, and for European companies with meetings anticipated to be held between February 1, 2024, and January 31, 2025. The peer group submission window will open at 9:00 a.m. ET on Monday, November 20, 2023, and will close at 8:00 p.m. ET on Tuesday, December 5, 2023.
Glass Lewis’ peer group submission window is already open and is most relevant for companies holding annual meetings between March 2024 and September 2024. The deadline for submitting peers is Friday, December 15, 2023 (no specific time of day is given).
As background, each proxy season, ISS and Glass Lewis construct peer groups that are used to analyze companies’ executive pay and related matters. These peer groups are constructed before new proxy statement disclosures are available, and thus are generally based on the company-selected peers in the prior year’s proxy statement. Accordingly, those companies that have changed, or anticipate changing, their peer group from their prior year’s proxy statement, may want to consider engaging in these voluntary peer group submission reviews with ISS and/or Glass Lewis during these open windows.