The Advisors' Blog

This blog features wisdom from respected compensation consultants and lawyers

December 10, 2013

Parsing the Pay Ratio Comments from Companies

Broc Romanek, CompensationStandards.com

Last week, I highlighted some of the comments that the SEC has received from investors. We are now up to 115,000 pay ratio comments overall, with many more posted from investors. Some comments continue to come in, even though we are a week past the December 2nd deadline.

So far, there are not too many comments submitted by companies – and some don’t provide specific cost data. I might have missed some – sometimes the comments are not labeled clearly – but my survey shows that only 5 out of the 20 comments submitted by companies provide cost data.

These are the ones I found that include cost data:

General Mills
Dover Corp
Avery Dennison
Hyster-Yale Materials Handling
NACCO Industries

Here are the ones that I found that don’t include cost data:

ExxonMobil
Microsoft
Eaton
Johnson & Johnson
Vectren
PNC Financial
Cummins
Freeport-McMoRan Copper & Gold
Bill Barrett Corp
Semtech
Emergent BioSolutions
International Bancshares
Tesoro
Garmin
FuelCell Energy

Thanks to Mercer’s Carol Silverman for help spotting these! And here’s a analytical comment letter from “Anonymous”…