Glass Lewis has released updates to its proxy voting guidelines applicable generally for shareholder meetings held after January 1, 2021. Noteworthy changes focus on board diversity and refreshment, board oversight responsibilities relating to environmental, social and governance issues, special purpose acquisition companies and executive compensation topics. The updates also refine and codify certain other existing policies. In a prior Alert, we discussed 2021 policy updates by Institutional Shareholder Services. Companies and directors should familiarize themselves with these policies, which could influence the results of director elections.
In this Alert, we summarize Glass Lewis’ key voting policy updates and provide practical tips on “What to do Now?”