ISS Issues 2013 Draft Policies for Comment

Institutional Shareholder Services, Inc. (?Ç£ISS?Ç¥) issued draft policies for 2013 relating to board governance and to executive compensation.?á ISS is proposing the following changes:

• Recommend a vote ?Ç£against?Ç¥ or ?Ç£withhold?Ç¥ from the entire board if the board failed to act on a shareholder proposal that received the support of a majority of shares cast (rather than outstanding) in the previous year.
• Use a company?ÇÖs selected peers with size constraints as an input to its peer group methodology
• Incorporate a comparison of realizable pay to grant date pay as part of the qualitative evaluation of pay-for-performance alignment.
• Add pledging of company stock as a factor that may lead to negative recommendations under the existing problematic pay practices evaluation.
• Include existing change-in-control arrangements maintained with named executive officers in its current policy on Golden Parachute proposals (rather than focusing only on new or extended arrangements).

A copy of the draft policies is?áhere.