What is a proxy voting policy?
A proxy vote is a ballot cast by one person or firm for a company’s shareholder who can’t attend a meeting, or who doesn’t want to vote on an issue. Prior to a company’s annual meeting, eligible shareholders may receive voting and proxy information before a shareholder vote.
Who is ISS Glass Lewis?
What are ISS and Glass Lewis? ISS and Glass Lewis are the two most prominent proxy advisory services, at least in North America. Because institutional investors sometimes hold hundreds or thousands of different stocks at a point in time, they tend to need assistance in voting their shares come annual meeting time.
What do proxy advisory firms do?
What Are Proxy Advisory Firms? Proxy advisory firms provide institutional investors with research and data, as well as recommendations on management and shareholder proxy proposals that are voted on at an organization’s annual and special meetings.
How long is a proxy valid?
11 months
Proxies submitted in “hard copy” (via US mail) must be signed by the member. Proxies may be granted via telephone or electronic mail as well as the standard written form. A proxy is valid for 11 months from the date on which it was signed unless a different period is specifically provided in the proxy form.
What happens if I don’t vote my proxy?
For certain routine matters to be voted upon at shareholder meetings, if you don’t vote by proxy or at the meeting in person, brokers may vote on your behalf at their discretion. These votes may also be called uninstructed or discretionary broker votes.
Where is Glass Lewis based?
San Francisco
Founded in 2003, Glass Lewis is headquartered in San Francisco and has offices in New York, Washington DC, Kansas City, Ireland, Germany, and Australia. In September 2006, Glass Lewis acquired Sydney-based proxy advisory firm Corporate Governance International, which then became known as CGI Glass Lewis.
What do Glass Lewis do?
Glass Lewis is the world’s choice for governance solutions. We enable institutional investors and publicly listed companies to make sustainable decisions based in research and data. We cover 30,000+ meetings each year, across approximately 100 global markets.
How do proxy advisory firms make money?
Proxy advisory firms charge fees to institutional investors and provide regular, independent voting recommendations on the companies that the latter own.
Why do mutual funds rely on proxy voting advisory services?
Proxy advisors provide recommendations to institutional investors on how to vote at shareholder meetings on issues such as climate change, executive pay and board composition. Their influence has grown as pressure on investors to cast votes as part of their stewardship activities has increased.
Does a proxy have to be signed?
A proxy is the written authorization that allows one person qualified to vote to appoint another (the proxy holder) to vote on his or her behalf. A proxy is customarily assigned without a Notary’s stamp, requiring only the signature of the owner of the address that proxy, or substitute vote, represents.
Is proxy voting mandatory?
Given the fiduciary duties that are personal to each director, and the need for directors to deliberate to ensure properly considered decisions, proxy voting by directors is usually prohibited by statute.
Is Glass Lewis a good company?
Is Glass Lewis & Co a good company to work for? Glass Lewis & Co has an overall rating of 4.2 out of 5, based on over 226 reviews left anonymously by employees. 86% of employees would recommend working at Glass Lewis & Co to a friend and 76% have a positive outlook for the business.
How much does a Glass Lewis report cost?
To be clear, Glass Lewis does not charge any fees for resolving these types of issues. Further, through Glass Lewis’ free IDR program, companies can check the data used to formulate Glass Lewis’ research reports prior to such reports being published to its clients.
How do proxy advisors make money?
Why proxy voting is important?
The proxy statement is one of the most important SEC filings for investors to read, as it contains information about the topics to be covered at the annual meeting, including nominations for the board of directors and the pay packages of the top executives.
Who votes proxies for mutual funds?
shareholders
As part of its fiduciary duty to shareholders, a fund’s board of directors, acting on behalf of the fund, is responsible for the voting of proxies relating to the fund’s portfolio securities.
Who regulates proxy voting?
First, the SEC has taken the position since 2010 that proxy voting advice may be “solicitation” subject to regulation under Section 14 of the Securities Exchange Act of 1934.
How long is a proxy valid for?
Who are Glass Lewis clients?
About Glass Lewis
Our customers include the majority of the world’s largest pension plans, mutual funds, and asset managers, collectively managing over $40 trillion in assets.
How do I get a Glass Lewis report?
Complete our form for public companies. Select “Get Preview Report for My Organization“ for access to data that will be incorporated into our report. Select “Gain Access to BitSight Platform” for access to underlying forensic data that Ratings are based on.
What happens if you don’t vote in a proxy?
What are the proxy rules?
The proxy rules require the company to provide certain disclosures in a proxy statement to its shareholders, together with a proxy card in a specified format, when soliciting authority to vote the shareholders’ shares.
Do proxy rules apply to private companies?
The “proxy access” rules apply to all companies that are subject to the Exchange Act proxy rules — including investment companies and controlled companies — other than companies that are subject to the Exchange Act solely because they have debt securities registered under the Act.
What is a Glass Lewis report?
® Glass Lewis’ Proxy Paper research reports feature case-by-case, independent analysis of all the proposals contained in tens of thousands of shareholder meetings held each year across more than 100 markets worldwide.
Does a proxy have voting rights?
Proxy voting is a form of voting whereby a member of a decision-making body may delegate their voting power to a representative, to enable a vote in absence. The representative may be another member of the same body, or external.