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Record Low ISS S&P 500 Say on Pay Opposition: The Trends Behind the Decline

Posted on October 24, 2024: By Linda Pappas, Perla Cuevas and Olivia Wright

In our prior Viewpoint, “Recap of the 2024 Say on Pay Season,” we reported that Institutional Shareholder Services (ISS) opposed 7.7% of S&P 500 Say on Pay (SOP) proposals, an unprecedented low. Prior to 2024, ISS opposed about 11% of S&P 500 SOP proposals, on average, each year. In this Viewpoint, the second of our 2024 SOP series, we explore the trends that may have led ISS to recommend against SOP at a historically low rate.

WRITTEN BY Linda Pappas

Linda provides strategic counsel to compensation committees, drawing on her deep expertise in evolving executive compensation and governance practices. She also leads our Proxy Advisor and Governance team, serving as a trusted authority on proxy advisor and investor voting policies, and helping clients navigate complex expectations.

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WRITTEN BY Perla Cuevas

Perla is a Consultant with nearly 10 years experience advising boards on executive pay, governance, and proxy advisory matters.

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WRITTEN BY Olivia Wright

Olivia is a Consultant with 6 years experience in executive pay and governance across biotech, energy, consumer, and finance.

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