L-Blast | Special Edition | August 2011
Say-on-Pay Year End Review & Notes on Say-on-Pay Lawsuits
ISS recently released its “Preliminary 2011 U.S. Postseason Report.” Key findings of that report are:
- Shareholders voted down management “say on pay” proposals at 37 Russell 3000 companies, or just 1.6% of the total that reported vote results. Most of the failed votes apparently were driven by pay-for-performance concerns.
- During the first year of advisory votes on executive compensation under Dodd-Frank, investors overwhelmingly endorsed companies’ pay programs, providing 91.2% support on average.
SEC Pushes Back Dates for Executive Compensation
As it has done before, the SEC has adjusted its tentative rule-making calendar to push back some of the expected proposal and adoption dates for the remaining executive compensation and corporate governance items on its agenda. On July 29, the SEC modified its schedule for adopting rules relating to the Dodd-Frank Act, including the key provisions applicable to executive compensation.