Hercules Offshore is the first company to fail Say on Pay in both 2011 and 2012, with 41% approval last year and 48% this year. We looked into the circumstances at Hercules Offshore and suspect that the failed 2012 Say on Pay vote was likely the result of increased pay year over year due to special retention awards coupled with proxy advisor concerns with several aspects of the program. Read more
Vote of the WeekZoom inCurrent Report
Our "Vote of the Week" reports discuss Say on Pay votes and results from specific companies and offers insights on what worked and what didn't.
OM Group's 2012 vote result was 23%, the lowest result recorded this season. The result represents a year over year decline in support of 57%. We looked into the circumstances at OM Group and suspect that the failed 2012 Say on Pay vote was likely the result of increases in CEO pay during a period of poor stock performance. Reported CEO total pay increased ~9% to $5m, Additionally, shareholders may have been concerned over high relative pay levels and changes to the annual incentive program. Read more