{"id":23689,"date":"2025-07-31T04:59:00","date_gmt":"2025-07-31T03:59:00","guid":{"rendered":"https:\/\/www.labrador-transparency.com\/?p=23689"},"modified":"2026-06-05T05:23:20","modified_gmt":"2026-06-05T04:23:20","slug":"disclosure-considerations-after-a-low-failed-say-on-pay-vote","status":"publish","type":"post","link":"https:\/\/www.labrador-transparency.com\/en\/blog\/disclosure-considerations-after-a-low-failed-say-on-pay-vote\/","title":{"rendered":"Disclosure Considerations After a Low\/Failed Say-on-Pay Vote"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"23689\" class=\"elementor elementor-23689\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7c1e8cd6 e-ecs-flex e-flex e-con-boxed e-con e-parent\" data-id=\"7c1e8cd6\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;ecs_container_type&quot;:&quot;flex&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-82de5cc elementor-widget elementor-widget-heading\" data-id=\"82de5cc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">ISS\u2019 review takes into consideration the following when a say-on-pay proposal receives less than 70% support:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d7b34b9 bullet-list elementor-widget elementor-widget-text-editor\" data-id=\"d7b34b9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li style=\"font-weight: 400;\" aria-level=\"1\">The disclosure of details on the breadth of engagement, including information on the frequency and timing of engagements, the number of institutional investors, and the company participants (including whether independent directors participated);<\/li><li style=\"font-weight: 400;\" aria-level=\"1\">The disclosure of specific feedback received from investors on concerns that led them to vote against the proposal;<\/li><li style=\"font-weight: 400;\" aria-level=\"1\">Specific and meaningful actions taken to address the issues that contributed to the low level of support;<\/li><li style=\"font-weight: 400;\" aria-level=\"1\">Other recent compensation actions taken by the company and\/or the persistence of problematic issues;<\/li><li style=\"font-weight: 400;\" aria-level=\"1\">Whether the issues raised are recurring or isolated;<\/li><li style=\"font-weight: 400;\" aria-level=\"1\">The company\u2019s ownership structure; and<\/li><li style=\"font-weight: 400;\" aria-level=\"1\">Whether the proposal\u2019s support level was less than 50 percent, which would warrant the highest degree of responsiveness.<\/li><\/ul><p><a href=\"https:\/\/www.issgovernance.com\/file\/policy\/latest\/americas\/US-CompensationPolicies-FAQ.pdf\" target=\"_blank\" rel=\"noopener\">https:\/\/www.issgovernance.com\/file\/policy\/latest\/americas\/US-CompensationPolicies-FAQ.pdf<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4088ba1 elementor-widget elementor-widget-image\" data-id=\"4088ba1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"600\" height=\"300\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-02-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp\" class=\"attachment-large size-large wp-image-23053\" alt=\"img 02 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-02-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 600w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-02-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-300x150.webp 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-74a5129 elementor-widget elementor-widget-heading\" data-id=\"74a5129\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Glass Lewis\u2019 review takes into consideration the following when a say-on-pay proposal receives less than 80% support<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2149b7a bullet-list elementor-widget elementor-widget-text-editor\" data-id=\"2149b7a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Our review of a company\u2019s practices also takes into consideration the compensation committee\u2019s response to previous say-on-pay votes and the level of shareholder support. When a company receives low support for its say-on-pay proposal, we believe the compensation committee should provide some level of response to shareholders\u2019 concerns, including engaging with large shareholders to identify the concerns driving the opposition. Shareholders should also expect adequate disclosure of any such engagement and any resulting feedback or changes being made to address outstanding concerns.<\/p><p><a href=\"https:\/\/www.glasslewis.com\/say-on-pay\/\">https:\/\/www.glasslewis.com\/say-on-pay\/<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-02cb65a elementor-widget elementor-widget-heading\" data-id=\"02cb65a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Disclosure Examples<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5bfd1d0 elementor-widget elementor-widget-heading\" data-id=\"5bfd1d0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Presenting Compensation in the Proxy Summary<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d816d2 bullet-list elementor-widget elementor-widget-text-editor\" data-id=\"1d816d2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>To reduce duplication, consider a \u201clight\u201d approach to compensation information in the Proxy Summary with the \u201ccompensation story\u201d pages being in the CD&amp;A.<\/li><li>Elements to consider for the Proxy Summary, as appropriate:<ul><li>The breadth and scope of the business (background about the company).<\/li><li>Business highlights (not necessarily specifically tied to compensation metrics, although financial and non-financial results tied to compensation metrics should be included).<\/li><li>Compensation elements and their metrics (not goals or outcomes \u2013 the summary introduces readers to the compensation plan).<\/li><li>Pay for performance alignment over time \u2013 with the performance metric that\u2019s most relevant for the company and its industry.<\/li><li>Compensation governance (\u201cwhat we do \/ don\u2019t do\u201d).<\/li><li>Shareholder outreach and a summary of resultant changes.<\/li><\/ul><\/li><li>If it tells the right story, consider also showing (briefly\/visually) that the program works by showing pay for performance over time, whether that is actual pay, realizable pay, or plan payouts over a 3- or 5-year period.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5d398ae elementor-widget elementor-widget-heading\" data-id=\"5d398ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/50863\/000005086322000011\/proxy2022.htm\" target=\"_blank\" rel=\"nofollow\">Intel Corporation<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aabff85 elementor-widget elementor-widget-image\" data-id=\"aabff85\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"2252\" height=\"1336\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-03-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp\" class=\"attachment-full size-full wp-image-23055\" alt=\"img 03 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-03-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 2252w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-03-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-300x178.webp 300w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-03-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1024x607.webp 1024w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-03-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x456.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-03-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1536x911.webp 1536w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-03-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-2048x1215.webp 2048w\" sizes=\"(max-width: 2252px) 100vw, 2252px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a79f178 e-con-full e-ecs-flex e-flex e-con e-child\" data-id=\"a79f178\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;ecs_container_type&quot;:&quot;flex&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5163343 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"5163343\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-04-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23057\" alt=\"img 04 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-04-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-04-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-04-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-04-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4e9c20d elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"4e9c20d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-05-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23059\" alt=\"img 05 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-05-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-05-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-05-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-05-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f8a563 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"1f8a563\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-06-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23061\" alt=\"img 06 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-06-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-06-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-06-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-06-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0f966bd elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"0f966bd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-07-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23063\" alt=\"img 07 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-07-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-07-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-07-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-07-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b2b15e1 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"b2b15e1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-08-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23065\" alt=\"img 08 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-08-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-08-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-08-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-08-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-654a66c elementor-widget elementor-widget-heading\" data-id=\"654a66c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/936468\/000093646822000033\/lockheedmartin2022proxy.htm\" target=\"_blank\" rel=\"nofollow\">Lockheed Martin<\/a><\/p>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2c23bc9 e-con-full e-ecs-flex e-flex e-con e-child\" data-id=\"2c23bc9\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;ecs_container_type&quot;:&quot;flex&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d4131f1 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"d4131f1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"2252\" height=\"1336\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-09-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp\" class=\"attachment-full size-full wp-image-23067\" alt=\"img 09 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-09-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 2252w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-09-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-300x178.webp 300w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-09-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1024x607.webp 1024w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-09-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x456.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-09-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1536x911.webp 1536w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-09-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-2048x1215.webp 2048w\" sizes=\"(max-width: 2252px) 100vw, 2252px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-acb5e60 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"acb5e60\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"1001\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-10-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-818x1024.webp\" class=\"attachment-large size-large wp-image-23069\" alt=\"img 10 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-10-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-818x1024.webp 818w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-10-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-240x300.webp 240w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-10-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x962.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-10-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-00cad33 elementor-widget elementor-widget-heading\" data-id=\"00cad33\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1618921\/000120677421002831\/wba_courtesy-pdf.pdf#page%3D1\" target=\"_blank\" rel=\"nofollow\">Walgreens Boots Alliance<\/a><\/p>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-95fb033 e-con-full e-ecs-flex e-flex e-con e-child\" data-id=\"95fb033\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;ecs_container_type&quot;:&quot;flex&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3be1015 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"3be1015\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-11-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23071\" alt=\"img 11 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-11-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-11-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-11-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-11-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d93a6e elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"1d93a6e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-12-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23075\" alt=\"img 12 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-12-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-12-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-12-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-12-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ea5083e elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"ea5083e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-13-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23077\" alt=\"img 13 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-13-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-13-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-13-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-13-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8e323b8 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"8e323b8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-14-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23079\" alt=\"img 14 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-14-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-14-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-14-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-14-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3454c51 elementor-widget elementor-widget-heading\" data-id=\"3454c51\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/5272\/000110465922039463\/tm222679-1_def14acourtesy.pdf#page%3D1\" target=\"_blank\" rel=\"nofollow\">AIG<\/a><\/p>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f9e12ad e-con-full e-ecs-flex e-flex e-con e-child\" data-id=\"f9e12ad\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;ecs_container_type&quot;:&quot;flex&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c90d2ed elementor-widget__width-inherit elementor-widget elementor-widget-image\" data-id=\"c90d2ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"2252\" height=\"1336\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-15-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp\" class=\"attachment-full size-full wp-image-23081\" alt=\"img 15 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-15-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 2252w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-15-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-300x178.webp 300w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-15-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1024x607.webp 1024w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-15-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x456.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-15-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1536x911.webp 1536w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-15-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-2048x1215.webp 2048w\" sizes=\"(max-width: 2252px) 100vw, 2252px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6d70efc elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"6d70efc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-16-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23083\" alt=\"img 16 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-16-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-16-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-16-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-16-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2144f03 elementor-widget elementor-widget-heading\" data-id=\"2144f03\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Shareholder Outreach and Changes Made as a Result<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-772003d bullet-list elementor-widget elementor-widget-text-editor\" data-id=\"772003d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>First and foremost, proxy advisors will be looking for a robust presentation of shareholder engagement. Our interpretation of the ISS guidelines is that, in addition to the usual participants\/process\/feedback discussion, companies should also present facts specifically about the feedback from shareholders voting no, and how the company addressed these concerns. ISS will take board engagement after dissent into consideration when formulating its recommendation on this year\u2019s SOP and incumbent compensation committee members. Glass Lewis\u2019 general expectation is that boards will respond to shareholder dissent.<\/li><li>Efforts made to solicit feedback from shareholders since the last Annual Meeting:<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b7992cb elementor-widget elementor-widget-heading\" data-id=\"b7992cb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/47217\/000120677422000540\/hpq_courtesy-pdf.pdf\" target=\"_blank\" rel=\"nofollow\">HP Inc.<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a9b2202 elementor-widget elementor-widget-image\" data-id=\"a9b2202\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"2252\" height=\"1336\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-17-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp\" class=\"attachment-full size-full wp-image-23085\" alt=\"img 17 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-17-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 2252w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-17-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-300x178.webp 300w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-17-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1024x607.webp 1024w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-17-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x456.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-17-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1536x911.webp 1536w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-17-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-2048x1215.webp 2048w\" sizes=\"(max-width: 2252px) 100vw, 2252px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-170e5e1 elementor-widget elementor-widget-heading\" data-id=\"170e5e1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/40545\/000120677422000763\/ge_courtesy-pdf.pdf\" target=\"_blank\" rel=\"nofollow\">GE<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-53e0df5 elementor-widget elementor-widget-image\" data-id=\"53e0df5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-18-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23087\" alt=\"img 18 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-18-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-18-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-18-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-18-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-163f767 elementor-widget elementor-widget-heading\" data-id=\"163f767\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/886982\/000119312522079120\/d62428ddef14a1.pdf\" target=\"_blank\" rel=\"nofollow\">Goldman Sachs<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be338a8 elementor-widget elementor-widget-image\" data-id=\"be338a8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-19-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23089\" alt=\"img 19 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-19-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-19-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-19-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-19-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-19f6d98 elementor-widget elementor-widget-text-editor\" data-id=\"19f6d98\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>\u201cYear-round\u201d shareholder outreach process and cycle<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-edca1ba elementor-widget elementor-widget-heading\" data-id=\"edca1ba\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/829224\/000120677422000270\/sbux_courtesy-pdf.pdf\" target=\"_blank\" rel=\"nofollow\">Starbucks<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-87d46cc elementor-widget elementor-widget-image\" data-id=\"87d46cc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-20-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23091\" alt=\"img 20 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-20-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-20-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-20-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-20-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ab85441 elementor-widget elementor-widget-heading\" data-id=\"ab85441\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Changes Made as a Result of Shareholder Outreach<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-381fd86 bullet-list elementor-widget elementor-widget-text-editor\" data-id=\"381fd86\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Any changes to the compensation program should be clearly highlighted and emphasized. Particularly if additional changes were made following last year\u2019s say-on-pay vote, we would suggest visually showing changes over multi-year period and emphasizing that the evolving program is in line with shareholder feedback \u2013 even better if the program has evolved in line with the company\u2019s strategic transformation initiatives.<\/li><li>Timeline of changes:<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f1762b6 elementor-widget elementor-widget-heading\" data-id=\"f1762b6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/829224\/000120677422000270\/sbux_courtesy-pdf.pdf\" target=\"_blank\" rel=\"nofollow\">General Motors<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-166cecf elementor-widget elementor-widget-image\" data-id=\"166cecf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"474\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-21-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1024x607.webp\" class=\"attachment-large size-large wp-image-23138\" alt=\"img 21 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-21-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1024x607.webp 1024w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-21-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-300x178.webp 300w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-21-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x456.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-21-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1536x911.webp 1536w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-21-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-2048x1215.webp 2048w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b66848 elementor-widget elementor-widget-text-editor\" data-id=\"5b66848\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>A visually impactful chart to highlight \u201cwhat we heard \/ what we did\u201d may be presented in the proxy summary and the CD&amp;A:<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3720220 elementor-widget elementor-widget-heading\" data-id=\"3720220\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/92122\/000120677422001105\/so_courtesy-pdf.pdf#page=1\" target=\"_blank\" rel=\"nofollow\">Southern Company<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5ed0a93 elementor-widget elementor-widget-image\" data-id=\"5ed0a93\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"474\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-22-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1024x607.webp\" class=\"attachment-large size-large wp-image-23140\" alt=\"img 22 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-22-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1024x607.webp 1024w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-22-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-300x178.webp 300w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-22-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x456.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-22-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1536x911.webp 1536w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-22-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-2048x1215.webp 2048w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ebfbfbc elementor-widget elementor-widget-heading\" data-id=\"ebfbfbc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/92122\/000120677422001105\/so_courtesy-pdf.pdf#page=1\" target=\"_blank\" rel=\"nofollow\">Walgreens Boots Alliance<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-77909b8 elementor-widget elementor-widget-image\" data-id=\"77909b8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-23-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23142\" alt=\"img 23 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-23-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-23-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-23-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-23-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7cdae64 elementor-widget elementor-widget-heading\" data-id=\"7cdae64\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/50863\/000005086322000011\/proxy2022.htm\" target=\"_blank\" rel=\"nofollow\">Intel Corporation<\/a><\/p>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f8b56a4 e-con-full e-ecs-flex e-flex e-con e-child\" data-id=\"f8b56a4\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;ecs_container_type&quot;:&quot;flex&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-042fec9 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"042fec9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-24-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23144\" alt=\"img 24 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-24-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-24-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-24-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-24-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-da2a425 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"da2a425\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-25-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23146\" alt=\"img 25 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-25-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-25-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-25-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-25-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a478881 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"a478881\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-26-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23148\" alt=\"img 26 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-26-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-26-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-26-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-26-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2cdee8c elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"2cdee8c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-27-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23150\" alt=\"img 27 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-27-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-27-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-27-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-27-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d8dc3b7 elementor-widget elementor-widget-heading\" data-id=\"d8dc3b7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Changes Made as a Result of Shareholder Outreach<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dc59874 elementor-widget elementor-widget-text-editor\" data-id=\"dc59874\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>After a low\/failed say-on-pay vote, we recommend a carefully considered Compensation Committee letter to explain their rationale for compensation decisions, and any additional changes that have been made.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-755562b elementor-widget elementor-widget-heading\" data-id=\"755562b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/92122\/000120677422001105\/so_courtesy-pdf.pdf#page=1\" target=\"_blank\" rel=\"nofollow\">Southern Company<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cc1437f elementor-widget elementor-widget-image\" data-id=\"cc1437f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"474\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-28-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1024x607.webp\" class=\"attachment-large size-large wp-image-23152\" alt=\"img 28 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-28-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1024x607.webp 1024w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-28-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-300x178.webp 300w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-28-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x456.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-28-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1536x911.webp 1536w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-28-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-2048x1215.webp 2048w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d1c1e3c elementor-widget elementor-widget-heading\" data-id=\"d1c1e3c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/21344\/000120677422000669\/ko_courtesy-pdf.pdf#page=1\" target=\"_blank\" rel=\"nofollow\">The Coca-Cola Company<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8066de1 elementor-widget elementor-widget-image\" data-id=\"8066de1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"474\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-29-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1024x607.webp\" class=\"attachment-large size-large wp-image-23154\" alt=\"img 29 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-29-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1024x607.webp 1024w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-29-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-300x178.webp 300w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-29-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x456.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-29-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1536x911.webp 1536w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-29-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-2048x1215.webp 2048w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-97878c4 elementor-widget elementor-widget-image\" data-id=\"97878c4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-30-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23156\" alt=\"img 30 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-30-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-30-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-30-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-30-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ddbd69e elementor-widget elementor-widget-text-editor\" data-id=\"ddbd69e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Halliburton provides a Q&amp;A with the Compensation Committee Chair in addition to the a letter.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-109624d elementor-widget elementor-widget-heading\" data-id=\"109624d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/45012\/000130817922000182\/lhal2022-def14a.pdf\" target=\"_blank\" rel=\"nofollow\">Hallibuton<\/a><\/p>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0ffd149 e-con-full e-ecs-flex e-flex e-con e-child\" data-id=\"0ffd149\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;ecs_container_type&quot;:&quot;flex&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-52861ed elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"52861ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-31-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23158\" alt=\"img 31 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-31-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-31-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-31-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-31-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b8d584a elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"b8d584a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-32-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23160\" alt=\"img 32 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-32-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-32-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-32-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-32-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2f6b649 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"2f6b649\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-33-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23162\" alt=\"img 33 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-33-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-33-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-33-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-33-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-08a9989 elementor-widget elementor-widget-text-editor\" data-id=\"08a9989\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>In addition to a standard report for the Compensation Committee, Phillips 66 provides additional commentary on specific aspects of the compensation program throughout their CD&amp;A.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-92d17ef elementor-widget elementor-widget-heading\" data-id=\"92d17ef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1534701\/000120677422000928\/psx_courtesy-pdf.pdf\" target=\"_blank\" rel=\"nofollow\">Phillips 66<\/a><\/p>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-54593a2 e-con-full e-ecs-flex e-flex e-con e-child\" data-id=\"54593a2\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;ecs_container_type&quot;:&quot;flex&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5f9fc57 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"5f9fc57\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-34-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23164\" alt=\"img 34 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-34-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-34-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-34-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-34-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-48a5e98 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"48a5e98\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-35-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23166\" alt=\"img 35 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-35-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-35-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-35-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-35-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3152f88 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"3152f88\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-36-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23168\" alt=\"img 36 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-36-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-36-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-36-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-36-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bc0f847 elementor-widget elementor-widget-heading\" data-id=\"bc0f847\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Appropriately Challenging Goals<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8d33e75 bullet-list elementor-widget elementor-widget-text-editor\" data-id=\"8d33e75\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Shareholders will want to see that the goals on which compensation is based are challenging, given the company\u2019s business model, industry and past results.<\/li><li>Show how the process for setting those goals takes those and other company\/industry-specific factors into account, resulting in goals that evolve as those factors evolve.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-88cbd69 elementor-widget elementor-widget-heading\" data-id=\"88cbd69\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/51143\/000110465922031075\/tm2122634-2_def14a.htm\" target=\"_blank\" rel=\"nofollow\">IBM<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-91bce22 elementor-widget elementor-widget-image\" data-id=\"91bce22\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-37-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23170\" alt=\"img 37 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-37-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-37-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-37-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-37-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-11104da bullet-list elementor-widget elementor-widget-text-editor\" data-id=\"11104da\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Evolution of goals over a three-year period<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-01a7992 elementor-widget elementor-widget-heading\" data-id=\"01a7992\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1058290\/000120677422001214\/ctsh_courtesy-pdf.pdf#page=1\" target=\"_blank\" rel=\"nofollow\">Cognizant<\/a><\/p>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3aaba68 e-con-full e-ecs-flex e-flex e-con e-child\" data-id=\"3aaba68\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;ecs_container_type&quot;:&quot;flex&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-243e711 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"243e711\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-38-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23172\" alt=\"img 38 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-38-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-38-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-38-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-38-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5000d11 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"5000d11\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-39-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23174\" alt=\"img 39 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-39-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-39-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-39-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-39-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-00b2aed elementor-widget elementor-widget-heading\" data-id=\"00b2aed\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1058290\/000120677422001214\/ctsh_courtesy-pdf.pdf#page=1\" target=\"_blank\" rel=\"nofollow\">Starbucks<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e5c9cd9 elementor-widget elementor-widget-image\" data-id=\"e5c9cd9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-40-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23176\" alt=\"img 40 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-40-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-40-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-40-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-40-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0aaeee8 elementor-widget elementor-widget-heading\" data-id=\"0aaeee8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1058290\/000120677422001214\/ctsh_courtesy-pdf.pdf#page=1\" target=\"_blank\" rel=\"nofollow\">3M<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-83d9401 elementor-widget elementor-widget-image\" data-id=\"83d9401\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-41-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23178\" alt=\"img 41 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-41-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-41-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-41-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-41-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7290cec elementor-widget elementor-widget-heading\" data-id=\"7290cec\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Clear Link Between Compensation Program and Strategy<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-16a83bb bullet-list elementor-widget elementor-widget-text-editor\" data-id=\"16a83bb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Compensation program complexity has been a criticism of investor groups, and with this in mind, the link between pay and performance\/strategy cannot be made clear enough:<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fae7f8b elementor-widget elementor-widget-heading\" data-id=\"fae7f8b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1109357\/000120677422000727\/esc_coutersy-pdf.pdf\" target=\"_blank\" rel=\"nofollow\">Exelon<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1b5a346 elementor-widget elementor-widget-image\" data-id=\"1b5a346\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-42-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23193\" alt=\"img 42 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-42-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-42-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-42-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-42-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ecac7f7 elementor-widget elementor-widget-heading\" data-id=\"ecac7f7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1058290\/000120677422001214\/ctsh_courtesy-pdf.pdf#page=1\" target=\"_blank\" rel=\"nofollow\">ConocoPhillips<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2f1ecf7 elementor-widget elementor-widget-image\" data-id=\"2f1ecf7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-43-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23195\" alt=\"img 43 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-43-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-43-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-43-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-43-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1c3f163 elementor-widget elementor-widget-heading\" data-id=\"1c3f163\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/19617\/000001961722000303\/a2022proxystatement.htm\" target=\"_blank\" rel=\"nofollow\">JPMorgan Chase &amp; Co.<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-850ea05 elementor-widget elementor-widget-image\" data-id=\"850ea05\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-44-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23198\" alt=\"img 44 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-44-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-44-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-44-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-44-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-dbd4486 e-ecs-flex e-flex e-con-boxed e-con e-parent\" data-id=\"dbd4486\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;ecs_container_type&quot;:&quot;flex&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7cf6a93 elementor-widget elementor-widget-heading\" data-id=\"7cf6a93\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Scorecard to Highlight NEO Performance<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3f450d4 e-ecs-flex e-flex e-con-boxed e-con e-parent\" data-id=\"3f450d4\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;ecs_container_type&quot;:&quot;flex&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-001df06 elementor-widget elementor-widget-heading\" data-id=\"001df06\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/101829\/000120677422000689\/rtx_courtesy-pdf.pdf\" target=\"_blank\" rel=\"nofollow\">Raytheon<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3aa7497 elementor-widget elementor-widget-image\" data-id=\"3aa7497\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-45-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23203\" alt=\"img 45 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-45-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-45-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-45-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-45-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7b6ed27 elementor-widget elementor-widget-heading\" data-id=\"7b6ed27\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/40545\/000120677422000763\/ge_courtesy-pdf.pdf#page=1\" target=\"_blank\" rel=\"nofollow\">GE<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b9ba267 elementor-widget elementor-widget-image\" data-id=\"b9ba267\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-46-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23207\" alt=\"img 46 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-46-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-46-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-46-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-46-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-841cd97 elementor-widget elementor-widget-heading\" data-id=\"841cd97\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/72971\/000119312522074612\/d304150ddef14a.htm#toc360404_9\" target=\"_blank\" rel=\"nofollow\">Wells Fargo<\/a><\/p>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-85084ec e-con-full e-ecs-flex e-flex e-con e-child\" data-id=\"85084ec\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;ecs_container_type&quot;:&quot;flex&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2ff832f elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"2ff832f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-47-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23210\" alt=\"img 47 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-47-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-47-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-47-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-47-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a42b500 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"a42b500\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"985\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-48-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp\" class=\"attachment-large size-large wp-image-23212\" alt=\"img 48 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-48-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-832x1024.webp 832w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-48-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-244x300.webp 244w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-48-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-768x945.webp 768w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-48-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x.webp 1086w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5f14d1f elementor-widget elementor-widget-heading\" data-id=\"5f14d1f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/5272\/000110465922039463\/tm222679-1_def14acourtesy.pdf\" target=\"_blank\" rel=\"nofollow\">AIG<\/a><\/p>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c7fccff elementor-widget elementor-widget-image\" data-id=\"c7fccff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"498\" src=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-49-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1024x637.webp\" class=\"attachment-large size-large wp-image-23219\" alt=\"img 49 Disclosure Considerations After a Low Failed Say on Pay Vote2x\" srcset=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-49-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-1024x637.webp 1024w, https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2025\/07\/img-49-Disclosure-Considerations-After-a-Low-Failed-Say-on-Pay-Vote2x-300x187.webp 300w, 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While some of the following examples are from proxy statements published by companies after a low say-on-pay score, others are from companies that publish these \u201cbest practice\u201d disclosures as a matter of course.<\/p>\n","protected":false},"author":19,"featured_media":20658,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[64],"tags":[],"class_list":["post-23689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-proxy-reporting"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Disclosure Considerations After a Low\/Failed Say-on-Pay Vote<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.labrador-transparency.com\/en\/blog\/disclosure-considerations-after-a-low-failed-say-on-pay-vote\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Disclosure Considerations After a Low\/Failed Say-on-Pay Vote\" \/>\n<meta property=\"og:description\" content=\"This thought piece highlights examples of certain key disclosures that the proxy advisory firms want to see after a low say-on pay vote. While some of the following examples are from proxy statements published by companies after a low say-on-pay score, others are from companies that publish these \u201cbest practice\u201d disclosures as a matter of course.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.labrador-transparency.com\/en\/blog\/disclosure-considerations-after-a-low-failed-say-on-pay-vote\/\" \/>\n<meta property=\"og:site_name\" content=\"Labrador Transparency\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-31T03:59:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-06-05T04:23:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.labrador-transparency.com\/wp-content\/uploads\/2023\/03\/Disclosure-Considerations-After-a-Low-Say-On-Pay-Vote.png\" \/>\n\t<meta property=\"og:image:width\" content=\"612\" \/>\n\t<meta property=\"og:image:height\" content=\"792\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" 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