On April 2, 2020, Glass Lewis announced that “unedited company feedback on its research will now be included with all its proxy research papers and delivered directly to the voting decision makers at every investor client.”
According to the release, companies will now have 7 days to provide Glass Lewis with feedback on their proxy report. The report will then be republished with the company’s feedback, and investors will be notified immediately once it is available.
Among other changes that will go into effect immediately, Glass Lewis stated that it will not edit or respond to a company’s feedback, and that investors will receive the feedback with ample time to change voting decisions if necessary.
With Glass Lewis’ recent peer group methodology changes, companies may be more inclined to provide feedback given that any changes to peer groups could directly impact Glass Lewis’ Say-on-Pay vote recommendation. To provide feedback, companies can use Glass Lewis’ Report Feedback Statement webpage.
