Publication
SW Benefits Update: ISS Follows Glass Lewis and Issues COVID-19 Public Company Executive Compensation Guidance
By Greg Gautam
As noted in my S&W Benefits Update from Tuesday, Glass Lewis (“GL”) recently provided guidance on its approach to balancing management and board executive compensation decisions in response to the COVID-19 pandemic. Yesterday Institutional Shareholder Services (“ISS”) followed GL and released its own guidance, emphasizing a case-by-case approach in analyzing company decisions in response to the pandemic. While I encourage you to read the entire ISS memorandum, ISS addresses two topics related to executive compensation, the adjustment of performance goals and stock option repricings.
In this newsletter, we note a few key concepts from the ISS guidance.
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Founded in 1938, Snell & Wilmer is a full-service business law firm with more than 500 attorneys practicing in 16 locations throughout the United States and in Mexico, including Los Angeles, Orange County and San Diego, California; Phoenix and Tucson, Arizona; Denver, Colorado; Washington, D.C.; Boise, Idaho; Las Vegas and Reno, Nevada; Albuquerque, New Mexico; Portland, Oregon; Dallas, Texas; Salt Lake City, Utah; Seattle, Washington; and Los Cabos, Mexico. The firm represents clients ranging from large, publicly traded corporations to small businesses, individuals and entrepreneurs. For more information, visit swlaw.com.
