Glass Lewis released its Proxy Paper Policy Guidelines for 2024 and updated policy guidelines on Shareholder Proposals & ESG-Related Issues. Changes to the benchmark policy guidelines (which—together with clarifying changes—are summarized on pages 7-11) cover internal control material weaknesses, cyber risk oversight, board oversight of E&S issues, board accountability for climate-related issues, clawbacks, executive stock ownership guidelines, shareholder equity awards, NOL pills, and control share statutes.
Additional areas of change highlighted in the ESG proposal guidelines and summarized on pages 7 - 8 include shareholder engagement disclosure and management proposals on non-financial reporting.
We reported on the results of Glass Lewis’s inaugural benchmark policy survey in the most recent Society Alert.