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Initial Look at Say on Pay Votes in Response to Recent COVID-19 Disclosures, and 2,248 Russell 3000 Vote Results

Initial Look at Say on Pay Votes in Response to Recent COVID-19 Disclosures, and 2,248 Russell 3000 Vote ResultsDownload PDF

This week’s report highlights companies with non-calendar fiscal year-end dates between 3/31 and 6/30 that disclosed actions in relation to COVID-19, and the response from shareholders and proxy advisors thus far. Companies will be expected to provide a heavy burden of proof to justify compensation levels and programmatic changes in a drastically different market. Year-over-year change in Say on Pay vote results have been minimal thus far, and thus, it is still difficult to estimate COVID-19’s impact on the 2020 proxy season. Please visit our COVID-19 resources, Coronavirus and Executive Compensation, for more information.

2,248 Russell 3000 companies have held Say on Pay votes in 2020. Average vote support has been 90.5%, and 52 companies (2.3%) have failed. Thus far, 13 social proposals and five environmental proposals have received greater than 50% support. This report also tracks Director Election and Equity Proposal vote results.