2018 Enhancements of “Shareholder Support Rankings” Voting Graphs
Voting Turnout
Multiple Voting Classes of Shares
WSJ/Drucker Rankings Median
The Forum’s website graphing tool for
Shareholder Support Rankings™
has been updated for 2018 proxy season results, and also provides the
following new analytical elements.
Voting Turnout
Of particular interest to both corporate
managers and investors concerned with attracting support for contested
proposals, the new graph now includes a pie chart reporting “Turnout” to
the right of each year’s bar of voting support. The percentage reported in
the blue section of the circle is calculated from the total number of
shares voted by shareholders for, against and abstaining or withheld,
divided by the number of shares outstanding, as reported by the company to
the SEC.
Multiple Voting
Classes of Shares
Since voting percentages are not
meaningful if companies have multiple classes of stock with different
voting rights, the new graphs will no longer report shareholder support
results for those companies. Based on
research provided by the Council of Institutional Investors (“CII”)
and used with their permission, companies identified as having multiple
voting classes of shares applicable to approvals of executive compensation
will simply be reported as such.
WSJ/Drucker Rankings
Median
Reflecting the growing interest in “smart
beta” investing, the new database includes a median for the
Wall Street Journal’s “Management Top 250”
companies based on the
Drucker Institute rankings that have provided a model for
selective indexing.[*] (The medians for the
standard Russell indices continue to be available.) We will welcome
suggestions of other selective indices for similar reporting.
GL – June 25, 2018
Gary Lutin
Chairman, The Shareholder Forum
575 Madison Avenue, New York, New York
10022
Tel: 212-605-0335
Email:
gl@shareholderforum.com
[*] It should be noted that the Forum has
agreed to support its participants’ collaborations with the Drucker
Institute to develop variations of rankings for indexing or analytical
applications. |