In advance of the 2024 proxy season, Glass Lewis reviewed the executive share ownership policies and practices in place at companies in the Russell 3000 Index. Below are some of the key takeaways from the report:

• The overwhelming majority of companies in the U.S. market set their executive ownership requirement as a multiple of base salary, typically ranging from five to six times base salary.
• It's not always clear what types of equity do or don't count towards meeting the requirement. Among companies that have ownership guidelines, 42 percent have not disclosed their counting methodology.
• Financial institutions, including three of the largest banks in the U.S., Morgan Stanley, Bank of America and Citigroup, are more likely to require executives to retain more of their equity for longer – in some cases until retirement.