2017 say-on-pay results show consistent voting outcomes when compared against year-over-year results recorded since 2011, the first year say-on-pay votes were required by U.S. companies. Willis Towers Watson’s Global Executive Compensation Analysis Team compiled these data.

Support constant despite fluctuating TSR

Average support for say-on-pay proposals has been constant since 2011, despite fluctuating total shareholder returns (TSR) during the same period. The consistency also applies to say-on-pay failure rates, as just 1% of companies failed say on pay in 2017. Last year also witnessed the smallest amount of say-on-pay failures since 2011. Companies are now seasoned and more comfortable engaging with shareholders and proxy advisors as well as clearly presenting pay programs in proxy filings.

Read our new Executive Compensation Bulletin for an overview of say-on-pay outcomes by clicking on “DOWNLOAD PDF” above or below.


ABOUT THE AUTHORS

Robert Newbury 

Robert Newbury

Willis Towers Watson
Columbus

Henry Mbom 

Henry Mbom

Willis Towers Watson
New York


Robert Newbury is a director based in Columbus, Ohio who leads Willis Towers Watson’s Global Executive Compensation Analysis Team unit. Henry Mbom is an executive compensation consultant in Willis Towers Watson’s New York office. Email robert.newbury@willistowerswatson.com, henry.mbom@willistowerswatson.com or executive.pay.matters@willistowerswatson.com.