Shareholders have expressed nearly universal support for companies' say-on-pay proposals in 2013 proxy season votes, according to studies released in late May.

A May 22 study by Meridian Compensation Partners found that 98 percent of Russell 3000 companies had their say-on-pay proposals approved. Nearly 80 percent of the 806 companies reporting voting results achieved an approval rate of at least 90 percent, Meridian said. For about 4.6 percent of these companies, however, shareholder support ranged from 50 percent to 70 percent. About 2 percent, or 17 companies, reported that their proposals were rejected, the study said.

The study also reported that 17 of the 23 Russell 2013 companies that failed the 2012 say-on-pay vote were successful this time around. According to Meridian, companies that failed in 2012 succeeded in 2013 typically by “implementing changes to their executive compensation programs that addressed issues reflected” in the previous year's voting results, improving their performance, and more aggressively reaching out to shareholders.

A May 29 “Short Takes” report by Steven Hall & Partners on the 2013 say-on-pay votes at 1,884 companies found that 72 percent of companies received greater than 90 percent support for their executive compensation programs. Thirty-two companies' say-on-pay proposals failed with, on average, 59 percent voting “Against,” the report said.

On average among all the companies, 90.3 percent of shareholders voted “For,” 7.9 percent voted “Against,” and 1.8 percent abstained, the report said.

Among the companies with repeat failures, the report listed Cogent Communications Inc. (2011 and 2013), Comstock Resources Inc. (2012 and 2013), Gentiva Health Services Inc. (2012 and 2013), and Kilroy Realty Corp. (2011, 2012, and 2013).

The Meridian report also charted the prevalence of shareholder proposals on executive pay and corporate governance issues. Among the most prevalent were proposals to separate the board chairman and chief executive officer roles (58 proposals); to impose stock retention and holding requirements (37 proposals); and to repeal classified boards, or those with directors serving staggered terms) (30 proposed). While none of the first two types of proposals have been approved by shareholders, proposals to declassify boards received majority support at 19 of the 21 companies at which votes have taken place, Meridian reported.