Georgeson is pleased to announce the upcoming release of the 2018 Annual Corporate Governance Review, a comprehensive analysis of annual meetings and shareholder initiatives for U.S. public companies. When released, the report will provide voting data on companies who held an annual and/or special meeting during the time period July 1, 2017 through June 30, 2018. Special thanks to our partner Proxy Insight for the coordination of voting data and analytics.
The following preview of the report provides an initial summary of noteworthy findings from the 2018 U.S. proxy season. The full report will cover these and additional topics in greater detail. Note, some of the results in the preview report are preliminary.
The preview report covers:
The tables below showcase voting trends from the 2018 proxy season and some comparative year-over-year data and insights. The full 2018 Annual Corporate Governance Review will include a fuller set of data from 2018 as well as additional comparative information.
The average level of ‘FOR’ support in 2018 was 90%. S&P 500 vote support levels were as follows:
|Over 90% FOR|
|Between 70-90% FOR|
|Between 50-70% FOR|
|Under 50% FOR|
416 shareholder proposals voted on at S&P 1500 companies
Average level of ‘FOR’ support was 32%
42 proposals received majority vote (over 50% of votes cast)
Top 3 sectors with shareholder proposals voted on at annual meetings:
Top 5 shareholder proposal proponents:
Over 11,000 director nominees up for election at S&P 1500 companies
Average ‘FOR’ vote was 96%
Overwhelming majority of directors received over 90% of votes cast
16 directors received less than 50% of votes cast
In advance of the 2018 proxy season, a number of large U.S. institutional investors published updated voting policy guidelines around key governance topics, including board diversity.
State Street Global Advisers
T. Rowe Price
The 2018 Annual Corporate Governance Review will feature N-PX research showcasing disclosed voting decisions from large investors on key 2018 proxy season proposals.
Interested in learning more about the 2018 Annual Corporate Governance Review?
Pre-order your copy of the 2018 Annual Corporate Governance Review below.