Companies that failed Say on Pay in 2015

As of December 31, 2015

• 2,905 companies held Say on Pay votes in 2015
• 70 companies (2.4%) have failed with an average 60% ‘Against’ vote
  • 19 have failed votes in previous years
  • • 14 failed in 2014
    • 2 have failed every say on pay vote
  • 43 had negative 1-year total shareholder returns
  • 19 had 1-year total shareholder returns of over +10%
  • 17 received +90% ‘For’ votes in 2014’s vote