On December 11, 2025, the President signed an Executive Order titled “Protecting American Investors from Foreign-Owned and Politically-Motivated Proxy Advisors” (the “EO”). The EO focuses on the influence of proxy advisory firms, specifically Institutional Shareholder Services (“ISS”) and Glass, Lewis & Co. (“Glass Lewis”). According to the EO, ISS and Glass Lewis control over 90%
Shareholder Voting
ISS Announces 2026 Benchmark Proxy Voting Guidelines
By Liz Walsh on
In November 2025, ISS Governance (“ISS”) announced its global Benchmark Proxy Voting Guidelines for shareholder meetings with dates on or after February 1, 2026. Consistent with prior years, the 2026 updates were derived from extensive outreach to institutional investors, companies and other affiliated organizations. According to ISS, its proxy voting guidelines “are guided by the…
Webinar Series: Preparing for the 2026 US Proxy & Annual Reporting Season
By Ryan J. Liebl, Jennifer Zepralka, Ali Perry & Liz Walsh on
| 10-K and Disclosure Trends | Proxy Statement and Annual Meeting Preparation |
| Webinar | November 10, 2025 12:00 p.m. – 1:00 p.m. EDT Register here. The proxy and annual reporting season may seem a long way off. However, in light of the amount of work and planning that goes into the proxy statement, annual report, and |
Glass Lewis Announces End to Benchmark Recommendations
By Ali Perry on
On October 14, 2025, Glass Lewis announced that it will no longer offer its benchmark voting recommendations starting in 2027. In lieu of benchmark voting recommendations, it will instead offer a set of options. Glass Lewis cited the growing split between how the United States and European investors approach issues like fiduciary duties and sustainability.
As Shareholder Proposals Proliferate, Boards Might Consider this Framework to Evaluate Voting Results
It’s shareholder meeting season, which means the proxy votes will be rolling in. As corporate boards receive these results of shareholder votes, a framework on how to respond may be helpful. After all, these days corporate ballots may include shareholder proposals on any issue of social significance, without regard to its significance to the company…