The Advisors' Blog

– Liz Dunshee

Earlier this year, Broc blogged that State Street would start using “abstain” votes on pay proposals for which it previously would’ve cast a qualified “yes.” State Street has now circulated this memo to clarify the types of situations this “abstain policy” will apply to. The situations include:

– Large one-time payments that can’t be justified or explained
– Lack of adequate disclosure or some concerns with performance metrics but recognition of strong long-term performance etc.
– Where companies have responded to some but not all of State Street’s concerns

State Street has also released its “2017 Corporate Responsibility Report” – which highlights its progress on improving the environment, corporate citizenship and diversity & inclusion.