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 17 locations throughout the United States and in Mexico, including Los Angeles, Orange County, Palo Alto 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.
