– Broc Romanek, CompensationStandards.com

Over the past week, there have been a flurry of failed say-on-pays (as Mark Borges has beaten me to the punch reporting) and the total for 2012 is now 7. As noted in our list, the latest ones are: NRG Energy (45%); Ryland Group (40%); Cooper Industries (30%); and FirstMerit Bank (47%).

The astounding news – according to the list on page 14 of Semler Brossy’s latest recap of say-on-pay results – is that 35 companies so far have filed additional soliciting material to voice displeasure with a recommendation from either ISS or Glass Lewis!

That’s an overwhelming number considering that ISS has recommended “against” only 43 companies so far (as noted on page 2)! Although the number of failed SOPs is roughly in line with last year’s results, the percentage of companies filing supplemental materials compared to negative recommendations from the proxy advisors is off-the charts…