List of companies that have failed Say on Pay in 2013

List of companies that have failed Say on Pay in 2013

December 31 2013
  • 3,363 companies have held Say on Pay votes in 2013
  • 73 companies have failed with an average 60% ‘Against’ vote
    • Two additional companies received less than 50% ‘For’ but considered the vote a win because ‘For’ votes outnumbered ‘Against’ votes due to abstentions
    • One company, Looksmart, received 100% ‘Against’ on their Say on Pay vote
      • Board recommended shareholders vote ‘Against’
        • “The current directors of the Company and the current compensation committee members believe that the executive compensation and the related practices of the former directors and former executive officers were ineffective and inappropriate and that the former directors and former executive officers consistently awarded themselves excessive compensation without regard to performance or what was in the best interests of the stockholders.”
    • 15 companies have failed previous votes
      • Abercrombie & Fitch Co. failed in 2012
      • Big Lots, Inc. failed in 2012
      • Cogent Communications failed in 2011
      • Comstock Resources failed in 2012
      • DFC Global Corp. failed in 2012
      • Freeport McMoran Copper & Gold, Inc. failed in 2011
      • Gentiva Health Services failed in 2012
      • Healthways, Inc. failed in 2012
      • Hemispherx Biopharma, Inc. failed in 2011
      • Insite Vision, Inc. failed in 2012
      • Masimo Corp failed in 2012
        • Received more ‘For’ than ‘Against’ votes in 2013, but Abstentions count as ‘Against’ votes
      • Oracle Corp. failed in 2012
      • Three companies have failed all three of their say on pay votes (2011, 2012 & 2013)
        • Kilroy Realty Corp.
        • Nabors Industries Ltd.
        • Tutor Perini Corp.

SOP_Fails (12.31.2013) (Legal)