Most companies have already filed their proxy statements – or at least sent them to the printer – so we are all in a waiting game now. However, as reported in Mark Borges' Blog, as of Friday evening, April 1st, the breakdown of company recommendations for the "Say on Pay" frequency vote in definitive and preliminary proxy statements that had been filed for the 2011 proxy season was as follows:

  • 685 companies (including 11 smaller reporting companies) had recommended an annual vote;
  • 571 companies (including 36 smaller reporting companies) had recommended a triennial vote;
  • 48 companies (including two smaller reporting companies) had recommended a biennial vote; and
  • 45 companies (including six smaller reporting company) had made no recommendation.

And through Friday, April 1st, 216 companies had reported the voting results from their annual meeting of shareholders.

  • Four companies, Beazer Homes USA, Hewlett-Packard, Jacob Engineering Group, and Shuffle Master are the only companies to have had their "Say on Pay" proposals rejected by shareholders.
  • Of the 125 companies where the Board of Directors has recommended that future "Say on Pay" votes be held every three years, 54 (or 43%) have seen their shareholders indicate a preference for annual "Say on Pay" votes. That number decreases to 41% (43 of 105 companies) when you exclude smaller reporting companies.
  • Of the 12 companies that recommended a biennial vote, nine have seen their shareholders express a preference for annual votes.
  • Of the eight companies where the Board of Directors has made no recommendation at all with respect to the frequency vote (excluding smaller reporting companies), seven have seen their shareholders state a preference for annual "Say on Pay" votes.

On April 6, 1895, the song Waltzing Matilda, said to be the unofficial national anthem of Australia, was first performed by Sir Herbert Ramsay at the North Gregory Hotel in Winton, Queensland.