Enhanced Transparency, Greater Accuracy
Launched in 2015, the IDR program was piloted in the United States and expanded the following year to companies in Europe and Canada. Japan was added to the market coverage in 2018 and we’ve expanded the program further in 2019 to include Israel, Singapore, India and South Africa. Our goal is to expand enrolment in more markets each year.
The IDR program enables companies to review the key data points used by Glass Lewis in its analysis prior to publication of the final Proxy Paper for institutional investor clients. While the IDR does not contain Glass Lewis’ analysis or voting recommendations, the data points included are critical inputs for Glass Lewis’ analysis. Issuers registered for the IDR can confirm their company data is accurately reflected per disclosure made publicly available to shareholders.
Companies must register to participate in this program. Companies are eligible to participate where their primary listing is in one of the markets in our IDR coverage list, and provided they meet the disclosure deadline of 30 days in advance of the AGM.
Companies which have not previously participated can complete a one-time registration form via the link on this page (see banner above).
Registrations will auto-renew annually unless a company representative notifies our engagement team of the company’s wish to withdraw from the program.
Glass Lewis solely guarantees IDRs for companies which disclose their meeting documents at least 30 days in advance of their meeting date.
Where companies do not publicly disclose their meeting materials by the disclosure deadline, Glass Lewis’ research team reserves the right to defer the company’s participation to the following years’ program.
A Simple Process
Companies which meet the disclosure deadline will receive an email at least three to four weeks prior to their shareholder meeting with their data report and instructions for providing feedback.
From that point, issuers have 48-hours to review the data and provide suggested updates, pointing to any public documentation which supports noted corrections. The 48-hour deadline is strictly administered to ensure Glass Lewis’ research team sufficiently meets their publishing deadline. Where no feedback has been received within the 48-hour period, our research team reserves the right to proceed accordingly with its publishing deadlines.
Returned feedback is reviewed by Glass Lewis’ research analysts who in turn make relevant updates and then provide high-level feedback regarding amendments made.
Accessing Glass Lewis’ Final Proxy Paper
Once the research team submits their response to feedback, they will complete and publish the final Proxy Paper with voting recommendations and analysis. If you are interested in the final report, this is available for purchase.