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ISS 2026 equity plan assessment methodology 

January 9, 2026
Equity awards are the largest component of most executive pay packages so securing shareholder approval of an equity plan is critical. Unlike say-on-pay proposals, which are advisory and nonbinding on the company, proposals to adopt or amend an equity plan are binding. If the proposal fails to receive shareholder support, the company can’t issue equity awards. A key step in obtaining approval of an equity plan or plan amendment is securing a favorable recommendation from proxy advisor Institutional Shareholder Services (ISS). ISS uses a proprietary equity plan scorecard (EPSC) and qualitative assessments to evaluate most equity plan proposals. Investors that rely on the proxy adviser’s evaluations may follow ISS voting recommendations or use ISS analyses — particularly plan cost and burn rate — to make an independent voting decision. 

ISS has updated the EPSC effective for plans voted on at annual meetings occurring on or after Feb. 1, 2026. Key changes include a new negative overriding factor, a new factor in the plan features pillar, tweaks to the scoring of factors, and updated burn-rate benchmarks.

This article provides an overview of how the EPSC works and situations where ISS assesses equity plan proposals outside of the EPSC, as described in its 2026 equity compensation plans FAQs.

About the authors
Carol Silverman

is a Partner and Senior Legal Consultant in Mercer's Law & Regulatory Group (L&R) based in New York. She specializes in technical legal and regulatory issues affecting executive compensation and corporate governance. She focuses on SEC disclosure, tax, employment and change in control agreements, equity programs, and employee benefit issues that arise in the context of corporate transactions and initial public offerings.  

Amy Knieriem

is a Senior Legal Consultant in Mercer's Law & Regulatory Group (L&R) based in Washington DC. She provides expert analyses on a variety of US and Canadian compliance and policy matters, and advises clients on securities and corporate governance issues affecting executive pay in North America. 

David Thieke

is a Parter and the Head of Mercer’s US & Canada Executive Rewards Practice. He advises US and Canadian companies’ Compensation Committees and senior leadership teams on a wide variety of executive compensation topics and Board of Director pay issues.  In addition, he leads the go-to-market strategies, as well as the development of intellectual capital and technical solutions, for Mercer’s Executive Rewards Practice in the US and Canada.  

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