On November 16, 2017, Institutional Shareholder Services (“ISS”) issued its updated proxy voting guidelines for the upcoming 2018 proxy season. Notable updates applicable to U.S. companies include new or revised policies:

.. to respond to recurring patterns of excessive non-employee director compensation;

.. relating to director elections at companies with poison pills; and

.. to address shareholder proposals on gender pay gaps.

ISS also clarified its policies on a number of other topics.