May 1, 2024
Say-on-Pay: Things Are Looking Up!
Average say-on-pay support for Russell 3000 companies is sitting at 91% so far this year – with only 1 failure – which is trending higher than last year’s results. That’s according to this WTW snapshot from last week. The update also notes:
– Last year’s season-long failure rate was 2%, based on a total of 53 failed votes, compared to 1% so far this year
– ISS is issuing fewer negative vote recommendations (8% this year vs. 13% last year)
– Pay-for-performance continues to be the biggest driver of ISS “against” recommendations
Depending on when the snapshot is taken, S&P 500 companies are either experiencing similar results (per the WTW snapshot) or lagging slightly behind (according to this Semler Brossy report that’s available for download).
– Liz Dunshee