trending Market Intelligence /marketintelligence/en/news-insights/trending/r8unIUQJfMsNwZum5Ag-yg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

ISS recommends against CYS Investments' say-on-pay proposal

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

ISS recommends against CYS Investments' say-on-pay proposal

Institutional Shareholder Services is recommending shareholdersvote against the approval of the company's executive compensation for 2015.

The vote on the say-on-pay proposal is not binding.

Glass-Lewis, on the other hand, has recommended voting in favorof the compensation. CYS Investments' board noted that the previous year's proposalwas substantially similar to the current year's; ISS recommended that proposal atthe time and has not explained why its position has changed.

In response to queries made by the company, ISS said there isno reason to discuss its recommendation. CYS Investments disagrees with ISS' position.

The company noted that its executive compensation is tied directlyto operating results, and because stockholder return was below target in 2015, thecompensation of Chairman, President, CEO and Chief Investment Officer Kevin Grantwas cut by 39% compared with the prior year.