Companies that failed Say on Pay in 2014

As of December 31, 2014

• 3,422 companies held Say on Pay votes in 2014
• 66 companies (1.9%) have failed with an average 59% ‘Against’ vote
  • 18 have failed votes in previous years
  • 43 had 1-year total shareholder returns of over +10%
  • 19 received +90% ‘For’ votes in 2013’s vote

Recent Short Takes:
Glass Lewis Releases 2015 Policy Guidelines
ISS Releases 2015 Proposed Changes to Executive Compensation Evaluation Policy
2014 Top 200 Director Compensation Study