NEW YORK, June 20, 2016 /PRNewswire/ -- Broadridge
Financial Solutions, Inc. (NYSE:BR) and PwC's Governance Insights
Center today released their ProxyPulse™ report for the 2016
proxy mid-season analyzing data from 1,881 U.S. public company
shareholder meetings held between January 1,
2016 and May 15, 2016.
The report revealed that say-on-pay support at micro-cap
companies fell 10 percentage points from the same period last year,
while small-cap companies saw a decrease in say-on-pay support of
two percentage points from 2015 to 87 percent this year.
"Say-on-pay continues to foster discussion between companies of
all sizes and their shareholders," said Chuck Callan, senior vice president, regulatory
affairs, Broadridge.
Another finding in the report is that support for directors
weakened over the same period last year. Although there were fewer
directors standing for election, more directors failed to achieve
majority support this year than last. Almost half of the companies
that had at least one director fail to gain majority support
last year also had a director fail to do so this year.
Proxy access continues to be a major theme this season. "So far
this proxy season, over 30 shareholder proposals for proxy access
came to a vote and more than half have failed to achieve majority
support. Although overall support was slightly lower than last
year, many companies have voluntarily adopted proxy access bylaws
-- thereby averting a shareholder vote," said Paul DeNicola, managing director of PwC's
Governance Insights Center.
The report also includes a preview of demographic data on US
equity shareholders.
About ProxyPulse
ProxyPulse is based in part on Broadridge's processing of shares
held in street name, which accounts for over 80 percent of all
shares outstanding of U.S. publicly-listed companies. Shareholder
voting trends during a proxy season represent a snapshot in time
and may not be predictive of full-year results.
ProxyPulse is a collaboration between Broadridge, the leading
provider of investor communication solutions for financial services
firms, mutual funds and corporate issuers globally, and PwC's
Governance Insights Center a group that supports directors and
investors with governance knowledge to answer tough questions and
tackle complex challenges. Visit ProxyPulse.com to access the full
report.
About Broadridge
Broadridge Financial Solutions, Inc. (NYSE: BR) is the leading
provider of investor communications and technology-driven solutions
for broker-dealers, banks, mutual funds and corporate issuers
globally. Broadridge's investor communications, securities
processing and managed services solutions help clients reduce their
capital investments in operations infrastructure, allowing them to
increase their focus on core business activities. With over 50
years of experience, Broadridge's infrastructure underpins proxy
voting services for over 90% of public companies and mutual funds
in North America, and processes on
average $5 trillion in equity and
fixed income trades per day. Broadridge employs approximately 7,400
full-time associates in 14 countries.
For more information about Broadridge, please visit
www.broadridge.com.
About PwC US
At PwC, our purpose is to build trust in society and solve
important problems. We're a network of firms in 157 countries with
more than 208,000 people who are committed to delivering quality in
assurance, advisory and tax services. Find out more and tell us
what matters to you by visiting us at www.pwc.com.
PwC refers to the PwC network and/or one or more of its member
firms, each of which is a separate legal entity. Please see
www.pwc.com/structure for further details.
About PwC's Governance Insights Center
We support you with governance knowledge to answer tough
questions and tackle complex challenges. Learn from our network of
subject-matter experts, business leaders, and experienced peers as
they share their insights and the latest thinking on current
issues. Beyond governance, we help directors and investors alike
better understand new financial accounting standards so they can
make better oversight and investment decisions. You can count on us
to help you connect all the dots for a more complete perspective —
and step ahead with confidence. For more information about PwC's
Governance Insights Center, please visit
http://www.pwc.com/us/en/governance-insights-center
Media Contacts:
Jenna J. Focarino
+1-212-681-1700 ext.115
+1-845-893-7586 cell
jfocarino@torrenzano.com
Stephanie C. Corzett
PwC US
+1-617-530-4977
Stephanie.c.corzett@us.pwc.com
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SOURCE Broadridge Financial Solutions, Inc.