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Say on Pay 2014: Losing Steam in Canada

Author(s): Andrew MacDougall, Sean Bernstein

November 2014

Over the past several years, executive compensation has been the subject of increased scrutiny and debate. Since 2011, a growing number of Canadian companies have introduced say on pay votes, essentially providing shareholders with the chance to vote on a non-binding advisory resolution to approve executive compensation disclosure.

In this chapter of Osler’s Planning for 2015: A 2014 Canadian Proxy Season Retrospective, we discuss the progress of this trend in 2014 and analyze the levels of shareholder support Canadian companies are experiencing. In particular, this report answers the following questions:

  • How many companies conducted say on pay votes in 2014?
  • What were the shareholder approval levels?
  • What are the characteristics of the companies conducting say on pay votes?
  • What strategies have companies implemented to improve support levels year-over-year?
  • What are the consequences of maintaining poor executive compensation practices?
  • What is the status of say on pay votes internationally?

DOWNLOAD PDF: Say on Pay 2014

Part of the 2014 Canadian Proxy Season Retrospective.

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