Issuer Data Report

The Issuer Data Report (IDR) service gives issuers access to a data-only version of their Glass Lewis Proxy Paper reports – for free – prior to our completing the Proxy Paper analysis that is derived largely from the data featured in the IDR.

SIGN UP FOR IDR

2018 IDR Service Sign Ups Now Available

Glass Lewis is pleased to announce the limited expansion of its IDR service to the Japanese market for 2018. While support for the IDR service in North America and European markets is provided by Meetyl, in it’s pilot year, Glass Lewis will provide support for all Japanese IDR sign ups.

More Transparency, Greater Accuracy.

IDRs enable corporate issuers to review the key data points used by Glass Lewis in its analysis prior to a full Proxy Paper research report being published for institutional investor clients. Issuers can confirm that their company data accurately reflects the information publicly available to shareholders. While the IDR does not contain Glass Lewis’ analysis or voting recommendations, the data points included are critical inputs for Glass Lewis’ analysis.

Launched in 2015, the IDR initially rolled out in the United States and in 2016 expanded to companies in Europe, the UK and Canada. Our goal is to make the IDR available to all subject companies for all the meetings we cover globally, expanding enrollment in more markets each year.

A Simple Process.

Companies interested in receiving their IDR first sign up and receive a response to confirm participation. Approximately three to four weeks prior to their shareholder meeting, the issuer’s IDR is distributed via email.

Issuers are generally given 48 hours to review their IDR and provide any suggested corrections to Glass Lewis, with the public documentation supporting such corrections. Glass Lewis reviews responses and updates any relevant information prior to publishing the completed Proxy Papers. This review process provides sufficient time for issuer review, while allowing Glass Lewis to meet its publishing deadlines and its investor clients to use the completed reports to make informed proxy voting decisions.

Frequently Asked Questions

Glass Lewis is dedicated to developing high quality, accurate corporate governance research based on publicly available information. We recognize that constructive engagement with corporate issuers enhances the quality of our Proxy Paper research reports by helping to ensure we consider the most relevant information about each public company. During meetings with companies, we encourage public disclosure of all relevant information. Glass Lewis’ reliance only on public information ensures that our research reports reflect the most current and accurate data available to shareholders.

To facilitate greater transparency and accuracy and as part of our ongoing engagement program, Glass Lewis is making the IDR available to requesting issuers, initially in select markets only. The IDR comprises the key data points used by Glass Lewis in developing reports on the subject company’s annual meeting. IDR users will be able to review the data, provide feedback on perceived inaccuracies and update Glass Lewis on new public information.

Glass Lewis intends to roll out IDRs for every meeting covered globally. In order to ensure the success of the program and our ability to properly respond to issuer questions and feedback, the expansion will be gradual.

IDRs contain key data points that are central to Glass Lewis corporate governance analysis, such as information about a company’s board of directors, including board composition, governing documents, independent public auditor, compensation practices, summary compensation data and equity plans. Additional information will be included when the company has certain items on its agenda, such as equity plan data for equity plan proposals or detailed compensation-related information for an advisory vote on executive compensation. The content of some proposals will not be included in the IDR. The IDR will not contain Glass Lewis’ analysis or voting recommendations.

No, IDRs are offered at no charge to participating issuers.

No. All IDRs are confidential and can only be shared with employees of the subject company that will be reviewing the information for accuracy. Users are prohibited under any circumstance from redistributing the IDR to anyone outside of the participating company.

Full versions of Proxy Paper research reports are available for purchase after they are published and in advance of the shareholder meeting, and can be distributed to shareholders following conclusion of the shareholder meeting.  For more information, please go to our Purchase a Proxy Paper page.

The IDR service is available in the selected markets below:

  • U.S. companies listed on the NASDAQ and NYSE exchanges
  • Canadian companies listed on the TSX exchange
  • European companies listed on a main market segment of a primary stock exchange

No. Only representatives of public companies may request IDRs and return PDFs with comments back to Glass Lewis.

Interested companies must submit a request for an IDR, with contact information, to Glass Lewis during the enrollment period each year, usually during the month of January. IDRs will only be issued for companies that have released all proxy materials no less than 30 days before the shareholder meeting date.

IDRs related to special or extraordinary meetings are not available at this time. This includes proxy contests, mergers or meetings with particularly contentious issues. Glass Lewis typically publishes these reports closer to the meeting date, as the factors driving voting recommendations are more dynamic and likely to change. As such, there is not enough time for prior review.

While Glass Lewis expects to provide IDRs to all companies requesting one, circumstances may arise reasonably beyond the control of Glass Lewis that may preclude the production of an IDR for a given company. Glass Lewis, at its sole discretion, retains the right to exclude any party from the Issuer Data Report program.

Participating issuers receive their IDR approximately three to four weeks prior to their annual meeting. However, distribution times are subject to change depending on the complexity of analysis involved. IDRs may be released as close as 16 days before the meeting.   We attempt to alert issuers, via email, one to seven business days before the IDR is expected to be available for review.

In view of Glass Lewis’ tight deadlines for issuing its proxy research reports, issuers have a maximum of 48 hours to respond to their IDR. Depending on the complexity of the report and the volume of meetings, in limited circumstances we may shorten the review period to 24 hours. Due to the around-the-clock demands of proxy season and importance of meeting client deadlines, the 48-hour review window may include weekends.

We notify issuers via email when their IDR is available for review. Issuers are prompted to provide point-of-contact email addresses through the IDR request form.

Issuers receive their IDR in PDF format. All comments should be made electronically within the PDF using the highlight/comment function in a PDF viewer. IDRs with corrections should be saved and returned to Glass Lewis. Full instructions are included when the IDR is sent for review.

Issuers who believe they have identified an error should note the specific error in the IDR and include citations to correct information, including page number and paragraph, from their proxy documents or other publicly available information. Glass Lewis policy prohibits the use of any non-public information.

Issuers receive their IDR in PDF format. All comments should be made electronically within the PDF using the highlight/comment function in a PDF viewer. IDRs with corrections should be saved and returned to Glass Lewis. Full instructions are included when the IDR is sent for review.

Glass Lewis analysts review comments submitted by companies and determine whether the company has identified a factual inaccuracy or relevant omission in Glass Lewis’ data. We respond to all issuers who inform us of errors and when an error is confirmed, we correct it.

We encourages companies to review the information regarding our policies and methodologies used in developing our analysis on the Guidelines page.

The IDR is intended to provide issuers with a comprehensive snapshot of Glass Lewis corporate governance analysis. During the IDR review process, Glass Lewis will not comment on Glass Lewis policies. Engagement meetings with Glass Lewis may be scheduled outside of the proxy solicitation period and outside of Proxy Season. For more information, please see our Engagement Policy page .