The Advisors' Blog

– Broc Romanek

As noted on page 45 of their voting report, the UK institutional investor – Legal & General Investment Management – voted against 42% of pay proposals at US companies in 2016, based on its position that at least 50% of long-term equity awards should be based on achieving pre-set performance targets. Compare that number to ISS’s recommendations “against” at “just” 9% of US companies!

LGIM also voted against management on at least one proposal at 65% of its US portfolio companies (see chart on page 10). As noted on page 23, it’s one of those companies that want to see pay ratio disclosure…