Below is an excerpt from ISS Corporate Solutions’ recently released 2023 Proxy Season Digest. The full report is available on the ISS Corporate Solutions (ICS) online library.
Each year during proxy season, ISS Corporate Solutions (ICS) analyzes recently collected data from Russell 3000 company filings. This year we focused on director support and diversity, executive compensation, and shareholder proposals. In this season-ending review, we aggregate our findings for a comprehensive lookback on the 2023 proxy season.
- Boards continued to diversify while director support levels trended slightly lower.
- Failed Say-on-Pay proposals were down, but median support levels are also declining.
- One year Say-on-Pay frequency is increasingly becoming the norm among smaller companies.
- ESG-related performance metrics are gaining popularity in executive compensation packages.
- Environmental and Social shareholder proposals are gaining prevalence, but support has weakened.
Toby Huang, Associate, Data Analytics, ISS Corporate Solutions
Sandra Herrera Lopez, Ph.D., Vice President, ESG Content & Data Analytics, ISS Corporate Solutions