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In this Client Briefing, Exequity explores the usage of relative total shareholder return (RTSR) within long-term incentive plans across S&P 500 companies using data from 2017 filings. We examine overall prevalence of RTSR, differences in usage between industry sectors, and key design elements of these plans.
Download Client Briefing (PDF) In this Client Briefing, Exequity explores the usage of relative total shareholder return (RTSR) within long-term incentive plans across S&P 500 companies using data from 2016 filings. We examine overall prevalence of RTSR, differences in usage between industry sectors, and key design elements of these plans.
Download Client Briefing (PDF) In this Client Briefing, Exequity explores the usage of relative total shareholder return (RTSR) within long-term incentive plans across S&P 500 companies. We examine overall prevalence of RTSR, differences in usage between industry sectors, and key design elements of these plans.
Download Client Briefing (PDF) In this Client Briefing, we present an assessment of three pay-for-performance methodologies: Realizable, Summary Compensation Table, and ROX, Exequity’s preferred methodology. In assessing how well executive compensation and shareholder returns align under each analysis, we illuminate the key shortcomings of Realizable pay (as defined by The Conference Board) and Summary Compensation Table pay (as used by proxy advisors). Using ROX, we find that executive compensation at S&P 500 companies is very strongly aligned with returns to shareholders. We also find that Realizable pay and Summary Compensation Table pay align relatively poorly with shareholder returns, resulting in pay-for-performance “disconnects” where under ROX none may exist. ROX provides compensation committees a powerful, comprehensive, and reliable tool to illustrate the link between executive pay and performance.
Download Client Briefing (PDF) This Client Briefing examines some unintended consequences that can occur when companies adopt changes to their severance and long-term equity programs. Specifically, the Client Briefing looks at the interaction of several design changes that have been touted by activist shareholders as reflecting good corporate governance, and implications for the underlying purposes of these programs.
Download Client Briefing (PDF) This Client Briefing looks at the SEC requirements for the CD&A, discusses why a CD&A template is not provided, provides a sample outline for the CD&A, and provides a checklist of key questions companies can use as they prepare their own CD&As, including questions that will be critical to address.
Download Client Briefing (PDF) This Client Briefing cuts to the chase and provides only the checklist of key questions companies can use as they prepare their own CD&As, including questions that will be critical to address.
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