ISS released its Executive Summary of its 2022 proxy voting guidelines updates and policy development process and its Proxy Voting Guidelines Updates for 2022, which are largely consistent with the proposed policies that we reported on previously (here, here, and here) as respects board diversity, board accountability for climate change risk, and climate change proposals. As anticipated based on the proposed policies and past practice of grandfathering now-mature companies with unequal voting rights, the updated policies also provide that beginning February 1, 2023, ISS will generally recommend a vote against directors on boards of companies with unequal voting rights subject to an exception for newly public companies that subject their unequal voting rights structure to a 7-year sunset provision. ISS also released updated compensation policy FAQs.
See ISS’s release, Stinson’s post, and additional resources on our Proxy Advisors page.