May 4, 2020 Executive Compensation Resilience Reports

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Impact of Covid-19 on Executive and Director Compensation Russell 3000

During March of 2020, US stock markets experienced one of the largest drops in history as the COVID-19 pandemic began wreaking havoc on US companies. Starting then, and continuing throughout April, businesses began closing operations and laying off or furloughing employees, resulting in a staggering 30+ million unemployment claims during March and April. Leaders of US public companies have made and continue to face difficult decisions provoked by the need to conserve cash, acknowledging the virus’ effect on their businesses. These decisions have often included – or caused – changes to executive and director compensation, usually in the form of cuts to base salaries and cash compensation.

Since early March, Semler Brossy has been tracking Russell 3000 executive and director pay actions announced in response to the COVID-19 pandemic. Through May 2nd, we’ve identified 432 companies, representing 14.4% of the Russell 3000, as having taken COVID-19-related pay actions impacting executives and/or non-employee directors.


Kathryn Neel

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