Seventy-three percent of companies won at least 90% of the shareholder vote in support of their executive compensation practices based on results of 2,132 companies in the Russell 3000 index reporting results this year through June 20, Towers Watson said in a report Tuesday.
That result is unchanged from all of last year.
So far this year, 48 companies, or 2%, failed to win a majority of the shareholder vote in support of their executive pay. That's the same 2% rate as all of last year, when 58 companies failed to get majority support.
The average shareholder vote was 90% in favor of ratifying executive pay, the same rate as all of last year. The number is based on the sum of the voting percentage at each of the companies.
Nineteen percent of the companies received 70% to 90% voting support for executive pay, up from 18% for all of last year, while 6% of companies got a support level of 50% to 70%, down from 7% in all of last year.