NEW YORK, July 8, 2013 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE:BR) and PwC's Center for Board Governance today released the second edition of their ProxyPulse™ report. The report provides data and analysis on key shareholder voting trends and behaviors.
"This second report encompasses 2,858 shareholder meetings, five times more than the first ProxyPulse report. It looks at street shareholder voting based on company size and also provides an update on voting for directors, executive compensation and certain other proposals," said Chuck Callan, Senior Vice President of Corporate Affairs, Broadridge.
Mary Ann Cloyd, leader of PwC's Center for Board Governance, explained, "Examining the data by company size and investor make-up allows companies to better understand and benchmark shareholder behavior."
Key findings of the research include:
- Retail shareholders own 32% of the street shares but only vote about 29% of shares they own. Their voting participation is fairly consistent across companies of different sizes.
- Eighty-one percent of all directors received favorable votes of at least 90%. Support varies directly with company size; that is, directors of larger companies attained greater levels of support than directors of smaller companies.
- Ten percent of all say on pay proposals received less than 70% support. Micro cap companies show the lowest levels of support.
- Proposals to declassify boards received significant support at companies of all sizes.
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