Public Company Update: Glass Lewis Releases Updated Guidelines for 2024 Proxy Season

On November 16, 2023, proxy advisory firm Glass Lewis released its 2024 Proxy Voting Policy Guidelines. The new guidelines apply to shareholder meetings occurring after January 1, 2024. Unsurprisingly, many of Glass Lewis’s significant changes focus on topics that have seen recent attention from the SEC or other regulators. In a welcome development for public companies, Glass Lewis did away with its board responsiveness policy for 20% supported shareholder proposals. This Public Company Update summarizes the most salient changes for US public companies applicable in the upcoming proxy season.