The Say on Pay Frequency Tracking page has been updated to reflect proxies filed through March 5, 2011.
This past week, the proxy filings began to pick up. 77 new SOP frequency recommendations were filed. The Triennial SWOP just barely remains the frequency recommended by a majority of the companies that have filed their proxies so far this season (50.7%), but the percentage of companies recommending an annual SOP vote frequency jumped again (Annual SOP frequency increased by 6.3 percentage points over the past week, going from 33.4% (week of 2/21/11) to 39.7% (last week)). Last week no companies came out with a biennial SOP frequency recommendation. Finally, five (5) companies this past week came forward with no recommendation on SOP frequency.
Notable companies that filed proxies last week and indicated their preference for say on pay vote frequency:
- Annual: A.O. Smith, Adobe Systems, American Express, Apache, Brink’s, Citigroup, Coca-Cola Enterprises, Comerica, Eastman Chemical,EMC, KeyCorp, McDonald’s, Olin, Pitney Bowes, Reynolds American, T. Rowe Price, Textron, Unisys, Valero Energy, Whirlpool
- Biennial: None last week
- Triennial: Chicago Bridge & Iron, H.B. Fuller, IDEX, OfficeMax, Sealy, Wisconsin Energy
- No Recommendation: Baker Hughes, NYSE Euronext
Here are the current stats:
- Annual: 148 (39.7%)
- Biennial: 16 (4.3%)
- Triennial: 189 (50.7%)
- No recommendation: 20 (5.4%)
Total companies tracked: 373