September 28, 2023 Executive Compensation Shareholder Voting, SOP, and Proxy Results Reports

2023 Say on Pay Reports S&P 500 and Russell 3000 Failure Rate & Pay Vote Analysis

Say on Pay results remain positive as proxy season winds down

Shareholders have voted on 2,226 Russell 3000 Say on Pay proposals thus far in 2023. The average vote result for the Russell 3000 is 90.0%, which is 80 basis points higher than the average vote at this time last year. The failure rate is 2.1%, 160 basis points lower than at this time last year.

There have been 241 social proposals and 100 environmental proposals voted on so far in 2023. Five social proposals (2%) and two environmental proposals (2%) have received greater than 50% support. Median support has decreased by seven percentage points for social proposals and nine percentage points for environmental proposals when compared to 2022 year-end median support.

Average vote support for equity proposals thus far in the proxy season (86.7%) is 290 basis points below the average vote support observed at this time last year (89.6%). The eight failed proposals thus far in 2023 are the most observed in a single year over the past decade.


Todd Sirras

Austin Vanbastelaer

Justin Beck

Previous Volumes

This report has many volumes. Previous volumes are available for download:

Related Insights