Covid-19’s Ongoing Impact on Retail Industry, and 1/31 FYE Companies’ Proxy Vote Results

Covid-19’s Ongoing Impact on Retail Industry, and 1/31 FYE Companies’ Proxy Vote ResultsZoom inDownload PDF

The first section of our report looks ahead to Covid-19’s longer-term impact on retail industry executive compensation design and administration. We expect that the challenges faced by retailers will persist into next proxy season and will influence retailers’ outcomes on pay-and-performance tests and in Human Capital Management (HCM) discussions. Year-over-year change in Say on Pay vote results have been minimal thus far, and thus, it is still difficult to estimate Covid-19’s impact on the 2020 proxy season. Please visit our Covid-19 resources, Coronavirus and Executive Compensation, for more information.

2,083 Russell 3000 companies have held Say on Pay votes in 2020. Average vote support has been 90.6%, and 45 companies (2.2%) have failed. Thus far, 12 social proposals and five environmental proposals have received greater than 50% support. This report also tracks Director Election and Equity Proposal vote results.