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Glass Lewis Revamps Reviews of Proxy Access Proposals

Joe Mont | January 29, 2015

When the Securities and Exchange Commission’s Division of Corporation Finance announced it will not offer no-action relief for companies seeking to exclude a shareholder proposal because it conflicts with one of their own this proxy season, a big question was how proxy advisory firms would react. While Institutional Shareholder Services has not weighed in (“We’ll have to decline comment at this point,” we were told by a spokesman), rival Glass Lewis has now detailed its approach.

In 2015, approximately 100 companies will face shareholder proposals seeking proxy access, 75 of them from an...

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