Coverage of Early Proxy Season Vote Results and Announced Executive and Director Compensation Responses to Covid-19Zoom inDownload PDF
Through April 18, 296 Russell 3000 companies announced or publicly disclosed actions to reduce or differ salaries for Management and 65% of those companies also disclosed Board cash retainer actions. A majority of companies announced comprehensive salary reductions that apply to all or most members of senior management and are not limited to only the CEO or NEOs. Thus far, 57% of Specialty Retailers, 42% of Hotels and Restaurants, and 58% of Airlines companies in the Russell 3000 have announced pay actions. It is still difficult to estimate the impact Covid-19 and the current market downturn will have on the 2020 proxy season; however, we will monitor and report on any trends that develop from the pandemic in our upcoming reports.
165 Russell 3000 companies have held Say on Pay votes in 2020. Average vote support has been 90.7%, and three companies (1.8%) have failed: Acuity Brands, IQVIA Holdings, and Qualcomm. This report also tracks Director Election and Equity Proposal vote results, and previews ESG shareholder proposal voting.