April 22, 2013
7th Say-on-Pay Failure of the Year: 1st Company to Fail Twice – But Not in Consecutive Years
– Broc Romanek, CompensationStandards.com
As noted in its Form 8-K, Cogent Communications Group is the 7th company holding an annual meeting in 2013 to fail to gain majority support for its say-on-pay (40% support). Cogent also failed in 2011, with 39% support. That makes them the first company to fail, pass (68% in ’12), then fail again. Hat tip to Karla Bos of ING Funds for pointing this out!