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Corporate Governance - Executive Compensation: ISS Offers Guidance on Its Updated Pay-for-Performance Methodology

Institutional Shareholder Services (ISS), one of the largest proxy advisory firms, recently issued a ''white paper'' outlining how ISS will implement the pay-for-performance proxy voting guidelines announced in its recent U.S. Corporate Governance Policy 2012 Updates (Policy Updates). The white paper provides companies with a limited opportunity to determine how they are likely to perform against some of ISS' payfor- performance criteria in advance of their 2012 annual meetings. The white paper also provides greater visibility into ISS' methodology for assessing pay-for-performance, which often has been criticized for its lack of transparency.

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