April 6, 2018
Say-on-Pay: Failure Rate at All-Time High (So Far)
– Liz Dunshee
This Semler Brossy report summarizes the proxy results so far for the Russell 3000. Here are a few key findings:
– It’s still early, but 3.9% of companies have failed “say-on-pay” this year – the highest rate since voting began
– The 90.2% average vote thus far in 2018 is down 1.5% from 2017
– Nearly one-third of the S&P 500 has had vote support below 70% at least once since 2011
The report has some good charts on industry differences, the ISS impact on vote results and likely causes for failures. It also looks at CEO pay ratio disclosures & equity plan proposals.