Is the peer group you disclose the one you are judged against?

For the committee that has to defend a peer group: your disclosed set read against a matched set chosen without regard to who names whom, with the bias estimate, the reciprocity map and what changed this year.

Who buys it

The company, not the consultant: the CHRO, the corporate secretary or the CFO acting for the compensation committee. The committee is the reader; the company is the payer. Consultancies take this under their own license.

When it is sold

October through January, alongside the disclosure season, with the fact from your own latest filing in the first line of the analysis. Ordered outside that window it is still built, from the disclosure that is current when the work starts.

Prepared from as-filed public disclosure for use as informational reference only. Not investment advice, not a vote recommendation, no warranty of any kind.