Clifford Chance

ISS and Glass Lewis Issue Proxy Voting Policy Updates for the 2021 Proxy Season

January 4, 2021

The two largest proxy advisory firms in the U.S., Institutional Shareholder Services Inc. and Glass, Lewis & Co., have released their updated proxy voting guidelines. ISS’ policy updates are effective for annual shareholder meetings held on or after February 1, 2021. Glass Lewis’ policy updates are effective for annual shareholder meetings held on or after January 1, 2021.

This client briefing discusses both ISS’ and Glass Lewis’ 2021 policy updates for U.S. companies. We note certain key changes, and action items that companies should implement in response. These policy changes and the voting policies of a company’s major shareholders should inform proxy drafting and shareholder engagement for the upcoming annual meeting season.

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