Georgeson | Proxy Insight

Preview the 2018 Annual Corporate Governance Review

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:

  • 2018 proxy season voting data for say-on-pay, shareholder proposals and director elections
  • Investor voting policy highlights, updates and trends
  • Instructions on how to order the 2018 Annual Corporate Governance Review

2018 Proxy Season Voting Results

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.

Say-on-pay: Trends and Highlights in S&P 500

The average level of ‘FOR’ support in 2018 was 90%. S&P 500 vote support levels were as follows:

  • 11 companies failed (received under 50% of votes cast)
  • 22 companies were in the “red zone” (received between 50% - 70%)
  • 379 companies received over 90% support

Say-on-pay 2018 – S&P 500

Over 90% FOR
Between 70-90% FOR
Between 50-70% FOR
Under 50% FOR

Shareholder Proposals:
Trends and Highlights in S&P 1500

Top 3 Environmental & Social Shareholder Proposals 2018 – S&P 1500

    Number of
Proposals Voted
Average
'FOR' Vote
Report on Political/Lobbying Contributions 55 28%
Report on Industrial Waste/Pollution/GHG Emissions 15 30%
Report on Board/Employment Diversity 11 37%

Top 3 Governance Shareholder Proposals 2018 – S&P 1500

    Number of
Proposals Voted
Average
'FOR' Vote
Right to Call Special Meeting 57 40%
Independent Board Chairman 46 32%
Proxy Access 37 33%

Top 3 Compensation Shareholder Proposals 2018 – S&P 1500

    Number of
Proposals Voted
Average
'FOR' Vote
Pro-rata Vesting of Equity Awards 8 31%
Clawback of Incentive Payments 7 39%
Report on Integrating Risks Related to Drug Pricing into Senior Executive Compensation 5 23%

Historical View of Shareholder Proposal – Amend Right to Call Special Meeting

  • Number of Resolutions Voted On
  • Average Level of Support

Director Elections

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

Order the 2018 Annual Corporate Governance Review

Interested in learning more about the 2018 Annual Corporate Governance Review?
Pre-order your copy of the 2018 Annual Corporate Governance Review below.

Questions? Please contact Georgeson by email info@georgeson.com or call 212 440 9800

For more proxy season news, check out Proxy Insight’s July 2018 Proxy Monthly report.