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ARTICLE · 20 MAY 2016

The Shareholder Spring – Revisited

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During the Shareholder Spring of 2012 shareholders won the argument that non-executive directors alone could be trusted to keep directors' pay under appropriate scrutiny and control.

United KingdomEmployment and HR
Edward Craft
Edward Craft

During the Shareholder Spring of 2012 shareholders won the argument that non-executive directors alone could be trusted to keep directors' pay under appropriate scrutiny and control. Accordingly, the UK government took action and put in place a new remuneration reporting regime for listed companies (not including companies with securities admitted to trading on AIM or the ISDX Growth Market).

The new regime, intended to provide additional information to shareholders and to increase transparency, was built around two votes:

  1. an annual advisory vote on a new-form remuneration report; and
  2. a binding vote on a three year prospective remuneration policy.

This new package for listed companies came into effect in the 2013-2014 voting season.

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