Pay Governance found just 19% of S&P 500 pay plans opposed by both ISS and Glass Lewis failed in 2026, down from 50% in 2022. The weight now sits with the five largest asset managers, whose own voting frameworks backed pay 95.6% of the time.
Reality
- Evidence62
- Adoption
- Insufficient
- Hype gap+12
- Incentives40
- Confidence60
Average pay at risk for S&P 1500 chief executives reached 78% in 2023, up from 46% in 1993, while target pay converged on the industry median. Compensation Actually Paid is the first figure that lets a committee check whether that design pays for performance.
Reality
- Evidence52
- Adoption72
- Hype gap+20
- Incentives62
- Confidence48
The Antitrust Division says the withdrawal is neither an enforcement action nor a finding of violation, and under its own rules the letter only ever covered ISS, which is why the brief DOJ filed in May 2025 carries more weight.
Reality
- Evidence62
- Adoption60
- Hype gap+12
- Incentives58
- Confidence57
Two academics measured NCLH directors' professional histories against the company's own strategic language and found the pre-campaign board fit worse than its peers' boards did. Every input was public before Elliott moved.
Reality
- Evidence34
- Adoption
- Insufficient
- Hype gap+32
- Incentives64
- Confidence44
A Semler Brossy memo says recent ISS guidance gives compensation committees room to revisit performance share unit programs. The prevalence numbers show how little cover they have if they use it.
Reality
- Evidence48
- Adoption88
- Hype gap+32
- Incentives74
- Confidence55
Diligent Market Intelligence says activity held at H1 2025 levels, settlements were the only real route onto boards, and technology brands were pressed on AI integration and cost rationalization.
Reality
- Evidence56
- Adoption58
- Hype gap+22
- Incentives68
- Confidence54