Law360, New York (June 29, 2011, 2:31 PM ET) -- As the annual shareholder meetings season winds down, say-on-pay votes have been winning shareholder approval more widely than expected in the first year of mandatory voting on executive compensation as required by federal financial reform, according to a new analysis.
The study, released Tuesday by Schulte Roth & Zabel LLP, found that of the 2,225 publicly traded companies on the Russell 3000 Index that had held the vote as of June 17, only 36 companies saw their say-on-pay measures rejected.
"Going into this year’s annual meeting season,...
Say-On-Pay Votes Are Largely Successful: Analysis
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