August 30, 2011 Executive Compensation Shareholder Voting Reports

2011 Say on Pay Report Shareholder Voting and Responses to Proxy Advisers

  • 34 Russell 3000 companies failed to receive at least 50% of the Say on Pay vote (8 companies in the S&P 500)
  • Nearly three‐quarters of companies have passed Say on Pay with over 90% shareholder approval
  • ISS has recommended that shareholders vote against Say on Pay at about 12.5% of the companies it has assessed
  • On average, shareholder support was 25% lower at these companies
    • Average approval with ISS ‘for’: 94%
    • Average approval with ISS ‘against’: 69%
  • Approval of Say on Pay has been high across industries with only a few variations
    • Energy received the lowest shareholder support’
    • Energy and Telecommunications received the highest proportion of ISS ‘against’
    • Materials and Utilities received the lowest proportion of ISS ‘against’ recommendations

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