The Advisors' Blog

Early returns are in for this year’s equity plans. I don’t want to jinx it, but things are looking good so far! Here are stats from Semler Brossy as of May 15th (pg. 6):

• Average vote support for equity proposals thus far in the proxy season (90.3%) is 40 basis points above the average vote support observed at this time last year (89.9%)

• No companies have received vote support below 50% in 2025

• ISS has recommended “Against” 21.3% of equity proposals, which is far below the 2024 full-year rate

• Average support for equity proposals that received an ISS “Against” recommendation thus far in 2025 (78%) is aligned with average vote support observed for companies that received an ISS “Against” in the past decade (76%)

The report goes on to spell out what is already implicit in the stats above: companies that receive an “Against” recommendation from ISS see support levels about 15% below than those that receive a “For” recommendation. It’s not clear whether this year’s results are a function of companies incorporating the plan features – and prohibitions – that investors and ISS want to see, or if there has been an update to how the methodology is being applied this year.

With equity being such an important part of compensation – not just for executives, but for much of the workforce – it’s important to be able to incorporate info about the latest trends into your own decisions and proposals. Especially in today’s volatile environment…what approach protects the share pool while also giving flexibility?

We’ll be diving into this and other compensation trends & tips at our “2025 Proxy Disclosure & 22nd Annual Executive Compensation Conferences” – in Las Vegas on Tuesday & Wednesday, October 21st & 22nd. Register now to attend in person with the Early Bird price before it’s gone! Here’s the full agenda, and here’s the lineup of excellent speakers – including representatives from ISS and Glass Lewis, and Blair Jones of Semler Brossy!

– Liz Dunshee