Say on Pay

Say on Pay Reports

Say on Pay ReportsZoom inCurrent Report

Our weekly "Say on Pay Reports" provide comprehensive coverage of vote results. Find out how companies in the Russell 3000 fared on Say on Pay votes.

Report update: 34 votes ‘against’ pay

Now well into the proxy season with 1,400+ Russell 3000 companies having reported Say on Pay voting results, nearly three-fourths of companies are passing with strong support (above 90%). To date, 34 companies have failed Say on Pay - roughly 2.4% of companies, compared to 1.4% in 2011. This week, Kilroy Realty became the second company to fail in both 2011 and 2012. This week’s Vote of the Week discusses MDC Holdings, a company that failed in 2011 but made significant changes to its program and garnered 38% more support in 2012 from shareholders. Five other companies have failed since our report last Wednesday: Chiquita Brands, Rigel Pharmaceuticals, Big Lots, NuVasive, and VCA Antech. Read more

Report update: votes ‘against’ pay total 28; results by industry

Now 11 weeks into our Say on Pay research and with 1200+ companies having reported, we've identified 28 total companies that have failed Say on Pay -- 10 more than last week. The additions are: Pitney Bowes, Hercules Offshore, Viad Corp, Community Health Systems, Phoenix Companies, CryoLife, Infinera Corporation, Palomar Medical, Simon Property Group, and Chemed Corporation. As we noted earlier this week, Hercules Offshore became the first company to fail Say on Pay in both 2011 and 2012. We delve into the context at Hercules in our 'Vote of the Week' (p. 3). This week, our report contains a new feature: Vote Results by GICS Sector (p. 5). Our early takeaway is that health care companies have received a disproportionate share of shareholder and proxy advisory opposition. Also notable...all companies in the consumer staples sector have passed Say on Pay. Only one company of 45 in the sector has received under 70% support. Read more

Report update: five new failures, high support continues…

To date, 934 Russell 3000 companies have had their Say on Pay votes – and over 92% are passing with above 70% support. This week, five more companies announced failures: Sterling Bancorp, Knight Capital, OM Group, Gentiva Health Services, and Charles River Laboratories. This brings the total for the season to 18. We analyze the reasons behind OM Group's 2012 vote result in our "Vote of the Week" feature. Read more

Report update: Total ‘failures’ at 13…

To date, 677 Russell 3000 companies have had SOP votes – and over 92% are passing with above 70% support. This week, five more companies announced failures, bringing the total to 13: Mylan, Comstock Resources, Tower Group, Cenveo, and Manitowoc Company. Read more