Say on Pay Failure Rate Remains at All-Time Low

Say on Pay Failure Rate Remains at All-Time LowZoom inDownload PDF

The current Say on Pay failure rate of 0.6% is the lowest since voting began in 2011. Seven Russell 3000 companies have failed Say on Pay thus far in 2017; the two new companies that have failed since the last report are ConocoPhillips and Whitestone REIT. 1,205 Russell 3000 companies have held Say on Pay votes in 2017 with an average vote result of 92.6%. This week we compared Say on Pay vote results of S&P 500 companies to all other companies in the Russell 3000. ISS has recommended “Against” Russell 3000 companies (not in the S&P 500) nearly 50% more often than companies in the S&P 500 since 2013; however, both groups have had similar average vote results over the past two years.