The Say on Pay Frequency Tracking page has been updated to reflect proxies filed through February 18, 2011.
Triennial SWOP remains the frequency recommended by a majority of the companies that have filed their proxies so far, the percentage of companies recommending an annual SOP vote frequency increased slightly (Annual SOP frequency has increased by 2.3 percentage points over the past three weeks, going from 28.5% (week of 1/24/11) to 30.8% (last week)). Most of the proxies filed this week again were preliminary proxies. Another company came out with a biennial SOP frequency recommendation. Finally, no companies this past week came forward with no recommendation on SOP frequency.
Larger companies that filed proxies last week and indicated their preference for say on pay vote frequency:
- Annual: The Sherwin-Williams Company, Lennar Corporation, Weyerhaeuser Company
- Biennial: Canandaigua National Corporation
- Triennial: McCormick & Company, Incorporated, Discover Financial Services
Here are the current stats:
- Annual: 77 (30.8%)
- Biennial: 15 (6.0%)
- Triennial: 146 (58.4%)
- No recommendation: 12 (4.8%)
Total companies tracked: 250