March 23, 2015
Say-on-Pay: 1st Two Failures in ’15
– Broc Romanek, CompensationStandards.com
As noted in this Semler Brossy report, to date, 134 Russell 3000 companies have had their say-on-pay votes – and 92% are passing with above 70% support. Two companies (1.5%) have failed say-on-pay thus far: Nuance Communications and Schnitzer Steel Industries. Of companies with five years of say-on-pay votes, 104 (94%) have passed all five years, six companies (5%) have passed in three years and failed in one year, and one company (1%) has passed in three years and failed in two years. Proxy advisory firm ISS is recommending ‘against’ say-on-pay proposals at 11% of companies thus far in 2015.