2012 Say on Pay Results Mirroring 2011 Results
Despite concerns that this year’s Say on Pay vote would be tougher than last year’s, it appears to be no better or worse. These findings are based a review of Say on Pay voting results through the first week of May in 2011 and 2012.
While more companies had disclosed their Say on Pay results at this point last year than this year (827 vs. 682), the Say on Pay failure rate for 2012 of 1.8% equals the 2011 rate.
Additionally, we note that the average ‘For’ and ‘Against’ votes among all companies this year is identical to last year (91% ‘For’ vs. 9% ‘Against’).