April 29, 2025
Say-on-Pay: Encouraging Stats From This Season’s Early Votes
Semler Brossy recently published its first say-on-pay report for 2025. Based on 140 Russell 3000 companies and 37 S&P 500 companies that have had meetings on or prior to April 8th, the results are looking good. Here’s more detail:
– The average Russell 3000 vote result (92.5%) thus far in 2025 is 160 basis points higher than the index’s 2024 average (90.9%)
– No companies have failed Say on Pay yet in the Russell 3000, compared to one failure at this time last year
– 5.0% of Russell 3000 companies and 2.7% of S&P 500 companies have received an “Against” recommendation from ISS thus far in 2025, both of which are lower than the rates at this time last year
The report notes that these results continue a positive multi-year trend of increasing say-on-pay support and fewer failures. But it also cautions that this is a small sample size and summary results are likely to change over the course of the year. Stay tuned!
– Liz Dunshee