Proxy Insight's latest Proxy Monthly includes a number of noteworthy institutional investor voting statistics for the Russell 3000 from the most recent N-PX filings. Among them are somewhat startling say-on-pay "against" votes (e.g., Minnesota State Board of Investment voted against nearly 69%, and Florida State Board of Administration voted against nearly 64% of proposals), and these showing how the largest asset managers voted on director elections and say-on-pay as compared to last year:
The firm reasonably surmises that the 2.4% year-over-year decline in Vanguard's support for directors may be attributable to its new overboarding policy.
If Capital Group is in your stock, this issue also features an interview with Capital Group's Assistant VP - Governance & Proxy Tom Elliot that provides insights into the investor's engagement and voting priorities, philosophy and approach.
Access numerous additional resources on our Proxy Season 2019 page. This post first appeared in the weekly Society Alert!