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ARTICLE · 02 JANUARY 2024

Board Diversity, Executive Compensation Key ISS Policy Updates For 2024

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Directors of Canadian publicly traded companies should take note of the following updated ISS Guidelines for the 2024 proxy season.

CanadaCorporate/Commercial Law
Laura Levine
Laura Levine
Emily Milana
Emily Milana
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Institutional Shareholder Services (ISS) has published policy updates for its 2024 Global Proxy Voting Guidelines (Guidelines) which include key developments with respect to board diversity disclosure and executive compensation. ISS' updated Guidelines will apply to shareholder meetings beginning on Feb. 1, 2024.

Takeaways

Directors of Canadian publicly traded companies should take note of the following updated ISS Guidelines for the 2024 proxy season:

  • Constituents of the S&P/TSX Composite Index are expected to have at least one racially or ethnically diverse member on their boards in addition to any gender diversity expectations.
  • For TSX-listed issuers, ISS is removing legacy language regarding percentage limits for non-executive directors' option grants and ISS' analysis of equity compensation plan proposals.

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