Institutional Shareholder Services Inc. (ISS) announced today the launch of a new data verification portal covering information on equity-based compensation plans that U.S. companies submit for approval by their shareholders. The noble goal is to ensure that ISS’ proxy analyses will better reflect the latest and most accurate data for each company receiving a proxy recommendation.
Under the new process, all U.S. companies that file their proxy statements with the SEC after September 8, 2014, seeking shareholder approval of an equity plan can utilize the new platform to verify key data points underlying ISS’ evaluation of the plan. ISS is encouraging affected companies to register to receive notification of the availability of their data. Upon notification by ISS, companies will have two business days to verify the data and/or request modifications. ISS will make the data available from 9:00 a.m. ET on the first business day after it collects the company’s/plan’s data and publishes it to the portal, until 9:00 p.m. ET on the second business day.
The Portal also includes a Frequently Asked Questions section that provides more information on the data verification process.
This looks like an opportunity for folks who have had issues with ISS’ information in the past to attempt to rectify any areas of disagreement before ISS makes it voting recommendation.