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ISS-Corporate Forecasts Key Themes for Unprecedented 2026 U.S. Proxy Season
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2026 U.S. Proxy Season Preview: Proxies in Uncharted Waters

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    Press Release

    ISS-Corporate Forecasts Key Themes for Unprecedented 2026 U.S. Proxy Season

    NEW YORK (February 26, 2026) – ISS-Corporate, a leading provider of robust SaaS and expert advisory services to companies globally, today released an analysis of key trends and themes expected to shape the 2026 U.S. proxy season. Amid a corporate governance landscape undergoing unprecedented changes with long-held governance norms upended, paradigm shifts challenging conventional wisdom, and artificial intelligence (AI) disrupting the proxy ecosystem, the report projects trends amid uncharted territory this proxy season, as well as the potential for investor pushback.

    Key anticipated trends and early findings include:

    • The Securities and Exchange Commission’s overhaul of the shareholder proposal process in its November 17 statement has shifted power to companies, empowering them to decide which proposals to exclude. The report found more than 70 percent of proposals for confirmed meetings have proceeded to a vote thus far, reflecting a cautious approach among early filers.
    • Early data show traditional governance and environmental shareholder proposals regaining prominence among the Russell 3000, while so-called anti‑ESG proposals represent a smaller portion of proposal submissions thus far.
    • While boards have enjoyed rising levels of director election support in recent years, the report suggests that accountability pressures are intensifying. Boards’ handling of shareholder proposals, as well as director compensation levels, are anticipated to be under increased scrutiny this proxy season.
    • The report predicts a potential uptick in failed say-on-pay votes in 2026, following a period of strong say-on-pay support in the 2024 – 2025 season. This comes as executive compensation expectations shift toward longer time horizons with emphasis on pay and performance alignment over a five-year period, and one-time grants resurge.
    • AI is beginning to reshape governance and proxy ecosystems, and is expected to play a larger role this proxy season, as companies expand board‑level AI oversight disclosures and institutional investors and service providers move to incorporate AI tools into the proxy voting value chain.
    • Investor expectations are becoming more fragmented, with choice and customization increasing. The report suggests that boards will have to navigate conflicting investor signals, identify common drivers of voting behavior, and tailor their engagement and disclosures across multiple viewpoints for success.

    To read the full report, please click here.

    ISS-Corporate is a leading provider of robust SaaS and expert advisory services to companies, globally. ISS-Corporate’s data-driven, research-backed Compass platform empowers businesses to understand and shape the signals they send to institutional investors, regulators, lenders, and other key stakeholders. By delivering essential data, tools, and advisory services, ISS-Corporate can help businesses around the world to be more resilient, align with market demands, and proactively manage governance, compensation, sustainability, and cyber risk initiatives. ISS Corporate Solutions, Inc. (“ISS-Corporate”) is a wholly owned subsidiary of Institutional Shareholder Services Inc. (“ISS”) and part of the ISS STOXX GmbH group of companies. This document and all of the information contained in it, including without limitation all text, data, graphs, charts (collectively, the “Information”) is the property of ISS-Corporate or its affiliates. The Information may not be reproduced or disseminated in whole or in part without prior written permission of ISS-Corporate. ISS-Corporate MAKES NO EXPRESS OR IMPLIED WARRANTIES OR REPRESENTATIONS WITH RESPECT TO THE INFORMATION. ISS-Corporate provides advisory services, analytical tools and publications to companies to enable them to improve shareholder value and reduce risk through the adoption of improved corporate governance practices. The ISS STOXX Governance and Sustainability research teams, which are separate from ISS-Corporate, will not give preferential treatment to, and are under no obligation to support, any proxy proposal of a corporate issuer nor provide a favorable rating, assessment, and/or any other favorable results to a corporate issuer (whether or not that corporate issuer has purchased products or services from ISS-Corporate). No statement from an employee of ISS-Corporate should be construed as a guarantee that ISS STOXX will recommend that its clients vote in favor of any particular proxy proposal or provide a favorable rating, assessment or other favorable result. For more information, please visit https://www.iss-corporate.com

    ISS STOXX GmbH, through its group companies, is a leading provider of comprehensive and data-centric research and technology solutions that help capital market participants identify investment opportunities, detect qualitative and quantitative portfolio company risks, and meet evolving regulatory requirements. With roots dating back to 1985, we today deliver world-class benchmark and custom indices across asset classes and geographies and serve as a premier source of independent corporate governance, sustainability, cyber risk, and fund intelligence research, data, and related offerings. Our products and services give clients the scale and leverage they need to grow their business more effectively and efficiently. ISS STOXX, which is majority owned by Deutsche Börse Group, is comprised of more than 3,800 professionals operating across 30 global locations in 20 countries. Its approximately 5,500 clients include many of the world’s leading institutional investors who turn to ISS STOXX for its objective and varied offerings, as well as companies focused on ESG, cyber, and governance risk mitigation as a shareholder value enhancing measure. Clients rely on ISS STOXX’s expertise to help them make informed decisions to benefit their stakeholders.