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.
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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 firstname.lastname@example.org, email@example.com or firstname.lastname@example.org.