A BRIEF HISTORY OF SAY ON PAY

In 2007, the real start of the Say on Pay campaign in the US, no one would have predicted that, by the 2009 proxy season, there would be over 400 companies with a management proposal to approve executive compensation. While its history is a relatively short one in the US, it is longer elsewhere and...

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Bibliographic Details
Published inIvey Business Journal (Online) p. N_A
Main Author Hodgson, Paul
Format Trade Publication Article
LanguageEnglish
Published London University of Western Ontario 01.09.2009
Subjects
Agreements
American Recovery & Reinvestment Act 2009-US
Employment
Excise taxes
Executive compensation
Incentive plans
Legislation
Proposals
Proxy statements
Regulation
Shareholder voting
Stockholders
Wages & salaries
United Kingdom > UK
United States > US
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Summary:In 2007, the real start of the Say on Pay campaign in the US, no one would have predicted that, by the 2009 proxy season, there would be over 400 companies with a management proposal to approve executive compensation. While its history is a relatively short one in the US, it is longer elsewhere and longest in the UK. In August 2002 the UK government introduced the Directors' Remuneration Report, regulations which included the requirement to put a remuneration report to a shareholder vote at each annual general meeting. In the US, average support for Say on Pay proposals from 2007 to 2008 increased modestly, from 40.8% to 41.7%. In March 2009, the SEC reacted to legislation in the American Recovery and Reinvestment Act that would require all companies receiving funds from the US Treasury to place a Say on Pay vote on their ballot.
ISSN:1492-7071