SAY ON PAY
  • April 16, 2014download

    Vote of the Week: Mylan

    Our "Vote of the Week" features Mylan. Mylan received 60% vote support in 2014 after receiving 70% in 2013. The year-over-year decreased support is likely due to a large pay package to the Executive Chairman (who earns more than the CEO) as a result of $20MM cash award, and an extension of three executives' contracts which included an excise tax gross-up provision.

    Read our Vote of the Week

  • April 16, 2014download

    2014 report: No new failures; ISS recommending against 9% of companies

    We have collected Say on Pay vote results for 16 additional Russell 3000 companies, bringing our total to 196. The average vote result for all companies in 2014 is 94%. To date, only one company has failed Say on Pay: Hologic. Of companies with four years of Say on Pay votes, 114 (92%) have passed all four years while 10 (8%) have passed in three years and failed in one year. Proxy advisory firm ISS is recommending 'against' Say on Pay proposals at 9% of companies in 2014 (compared to 14% in 2013 and 2012).

    Read this week's report here

  • April 10, 2014download

    Vote of the Week: Starbucks

    Our "Vote of the Week" features Starbucks. Starbucks received 87% vote support in 2014 after receiving 73% in 2013. The year-over-year increased support is likely due to no grants of any special time-based awards, mostly flat cash compensation levels year over year, continued strong financial performance, and active shareholder outreach

    Read our Vote of the Week

  • April 10, 2014download

    2014 report: No new failures; ISS recommending against 7% of companies

    We have collected Say on Pay vote results for 8 additional Russell 3000 companies, bringing our total to 180. The average vote result for all companies in 2014 is 94%.  To date, only one company has failed Say on Pay: Hologic. Of companies with four years of Say on Pay votes, 102 (93%) have passed all four years while 8 (7%) have passed in three years and failed in one year. Proxy advisory firm ISS is recommending 'against' Say on Pay proposals at 7% of companies in 2014 (compared to 14% in 2013 and 2012).

    Read this week's report here

  • April 2, 2014download

    Vote of the Week: Quiksilver

    Our "Vote of the Week" features Quiksilver. Quiksilver, a company with triennial Say on Pay votes, received 84% vote support in 2014 after receiving 98% in 2011 at its last vote. The lower support this year is likely due to high absolute levels of CEO pay even though equity awards are tied to rigorous performance goals, single-trigger vesting acceleration for equity upon a change in control, and lack of risk-mitigating features such as clawback policy, ownership guidelines, or anti-hedging/anti-pledging policies.

    Read our Vote of the Week