The 2023 proxy season has broken the record for the number of shareholder proposals submissions, as ESG topics progress and institutional investor voting behavior evolves.
Already 951 shareholder proposals have been submitted, surpassing the record-breaking 2021 and 2022 seasons. To date at the time of this writing, 324 ESG proposals have been voted, and as many as 299 proposals may go to a vote by the end of season.
In addition, director election support at Russell 3000 companies continues to be strong, averaging 94.9% for the proxy year 2023 YTD, similar to full proxy year 2022. Say-on-pay vote results for the 2023 proxy season YTD are witnessing a marginal increase in the average support for Russell 3000 companies, with approximately 91% of votes cast in favor, compared to 90% support in the proxy year 2022.
We'll be releasing another report following the availability of full proxy season annual meeting results post-June 30, 2023.