The Say on Pay Frequency Tracking page has been updated to reflect proxies filed through January 30, 2011.
Triennial SWOP still remains the frequency recommended by a majority of the companies that have filed their proxies so far — I might even say it appears to be the break-out star. Of course, the voting of several SWOP proposals was announced this week too, i.e., for Monsanto and Roebling Financial where Triennial was not embraced by Monsanto’s shareholders but was embraced by Roebling Financial’s shareholders.
Several well-known companies this week filed proxies and indicated their preference for the say on pay vote frequencies:
- Annual: Starbucks Corporation, The Walt Disney Company
- Triennial: Alberto-Culver Company, Applied Materials, Inc., Franklin Resources, Inc.
Here are the current stats:
- Annual: 59 (28.5%)
- Biennial: 13 (6.3%)
- Triennial: 123 (59.4%)
- No recommendation: 12 (5.8%)
Total companies tracked: 207
One January 25, 2011, the SEC adopted the final rules for the say on pay (SOP), say when on pay (SWOP), a/k/a SOP frequency, and the Golden Parachute votes. The full text of these rules can be found at:
http://www.sec.gov/rules/final/2011/33-9178.pdf
A summary of the final rules will be prepared and posted.
The Say on Pay Frequency Tracking page has been updated to reflect proxies filed through January 23, 2011.
Triennial SWOP still remains the frequency recommended by a majority of the companies that have filed their proxies so far. Several well-known companies this week filed proxies and indicated their preference for the say on pay vote frequencies, i.e., Annual: Agilent Technologies, Hill-Rom Holdings, Johnson Outdoors, and Raymond James Financial; Triennial: Qualcomm, Toll Brothers, Viacom.
Here are the current stats:
- Annual: 42 (29.1%)
- Biennial: 13 (8.2%)
- Triennial: 88 (55.7%)
- No recommendation: 11 (7.0%)
Total companies tracked: 158
On January 18, 2011, the SEC posted a Sunshine Act Meeting notice indicating that it will hold a meeting on January 25, 2011 to consider final rules under Section 951 of the Dodd-Frank Act, i.e., say on pay, say on pay frequency and say on golden parachutes.
The full text of the SEC meeting notice can be found at:
The Say on Pay Frequency Tracking page has been updated to reflect proxies filed through the end of 2011.
Triennial SWOP still remains the frequency recommended by a majority of the companies that have filed their proxies so far. Several well-known companies this week filed proxies and indicated their preference for the say on pay vote frequencies, i.e., Annual: Deere & Company, Triennial: TFS Financial Corporation and Warner Music Group.
Here are the current stats:
- Annual: 34(28.3%)
- Biennial: 9 (7.5%)
- Triennial: 67 (55.9%)
- No recommendation: 10 (8.3%)
Total companies tracked: 120
The Say on Pay Frequency Tracking page has been updated to reflect proxies filed through January 9, 2011.
Triennial SWOP still remains the frequency recommended by a majority of the companies that have filed their proxies so far. That being said, several well-known companies this week recommended annual say on pay vote frequencies, i.e., Apple (had annual vote in 2010), TD Ameritrade, and Hillenbrand.
Here are the current stats:
- Annual: 25 (28.4%)
- Biennial: 9 (10.2%)
- Triennial: 46 (52.3%)
- No recommendation: 8 (9.1%)
Total companies tracked: 88
Note: This post has been updated to reflect the deletion of 1 duplicate from the frequency tracking page.
The Say on Pay Frequency Tracking page has been updated to reflect proxies filed through the end of 2010.
Triennial SWOP still remains the heavy favorite with companies that have filed their proxies so far. Here are the current stats:
- Annual: 17 (23.3%)
- Biennial: 8 (10.9%)
- Triennial: 41 (56.2%)
- No recommendation: 7 (9.6%)
Total companies tracked: 73
