
Approximately 85 percent of Russell 3000 firms have held their annual shareholder meetings by June 30. As a preamble to ISS’s post-season review reports, we take a look at some of the key takeaways from the 2018 proxy season.
- Board election vote results tell a complex story, whereby average rates of support have not changed, but investors appear to place greater scrutiny on a wider range of topics.
- In compensation, we see an uptick in votes against say-on-pay proposals, potentially as a response to record-level payouts and CEO pay increases.
- On the shareholder proposals front, individual investors seemed determined to make headway on issues such as special meeting rights, independent board chair, and the ability to act by written consent.
- Environmental and social issues continue to gain momentum, with high levels of support and a record number of withdrawn proposals.