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“Say on Pay” Wins Majority Votes June 18th, 2008
“Say on Pay” is a campaign to give shareholders a voice in executive compensation. The Missionary Oblates co-filed “Say on Pay” Resolutions through ICCR with Apple Computer and Cisco Systems this year.
Brought about by excessive compensation packages for corporate executives, over 90 “Say on Pay” proposals were filed with companies in the 2008 filing season. Pay vote proposals have averaged 43.1% support over the 35 meetings where results are known. To date, nine majority votes have been recorded so far.
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