2017 Year-End Report: Average Say on Pay Support at All-Time HighZoom inDownload PDF
2,357 Russell 3000 companies held Say on Pay votes in 2017 and the average Say on Pay support in 2017 (91.7%) was the highest observed rate since voting began.
35 companies (1.5%) failed Say on Pay in 2017, resulting in the lowest failure rate since the first year of Say on Pay in 2011. The four new companies that have failed since our last report are Bofl Holding, Oracle, United Natural Foods, and Western Digital.
We will begin to issue Say on Pay updates for the 2018 proxy season in March 2018. We expect that the newly required CEO pay ratio will influence Say on Pay voting in 2018, and governance topics like board diversity to continue to be in the forefront.