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Over the last few weeks, Glass Lewis has been busy modifying its policies and practices in response to the rapidly evolving COVID-19 pandemic and its impact on people and the workplace. The proxy advisor’s latest update came on April 2, 2020, with the announcement that “unedited company feedback on its research will now be included with all proxy research papers and delivered directly to voting decision makers at every investor client.”
To submit feedback to Glass Lewis for inclusion, a company will have up to seven days following the initial publication of the proxy advisor’s research report and no later than 14 days prior to a company’s annual meeting. The feedback will be noted on the front page of each report and linked to the section of the report containing the feedback statement. Investors will be notified immediately, allowing them to review and consider the information in a timely manner to make any necessary changes to their voting decisions ahead of the scheduled meeting date.
Glass Lewis confirms that it will not edit a company’s feedback or add competing statements at any time. SVP and Head of Research and Engagement at Glass Lewis, Aaron Bertinetti, describes the change as a win-win, where “companies get their say and investors get the most complete, consistent, timely and independent information for their voting decisions.”
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