Report Update: Nine Additional Companies Fail Say on Pay – Featuring Trends in Say on Golden Parachute VotesZoom inDownload PDF
Our special topic studies trends in Say on Golden Parachute votes. On average, these votes have fluctuated more and are lower than Say on Pay votes every year since 2011. ISS is more likely to recommend ‘Against’ Say on Golden Parachute proposals. In 2015, companies with an ISS ‘Against’ recommendation received 26% lower support, on average. To date 1,863 Russell 3000 companies have held their Say on Pay votes and 92% are passing with above 70% support. Nine companies have failed since our last report: Argan, Bed Bath & Beyond, BPZ Resources, Furmanite, Marvell Technology, Natural Gas Services, Restoration Hardware, Spectrum Pharmaceuticals, and United Therapeutics. 47 Russell 3000 companies (2.5%) have failed Say on Pay in 2015. ISS is recommending ‘Against’ Say on Pay proposals at 12% of companies.