The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Sun, 03 May 2026 11:30:13 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png What 2025 ISS Say on Pay Opposition May Signal for the 2026 Season – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 What 2025 ISS Say on Pay Opposition May Signal for the 2026 Season https://corpgov.law.harvard.edu/2026/04/29/what-2025-iss-say-on-pay-opposition-may-signal-for-the-2026-season/?utm_source=rss&utm_medium=rss&utm_campaign=what-2025-iss-say-on-pay-opposition-may-signal-for-the-2026-season https://corpgov.law.harvard.edu/2026/04/29/what-2025-iss-say-on-pay-opposition-may-signal-for-the-2026-season/#respond Wed, 29 Apr 2026 11:30:35 +0000 https://corpgov.law.harvard.edu/?p=180566?d=20260429101257EDT Posted by Emily Chase, Linda Pappas, and Olivia Wright, Pay Governance LLC, on Wednesday, April 29, 2026
Editor's Note:

Emily Chase and Olivia Wright are Consultants and Linda Pappas is a Principal at Pay Governance LLC. This post is based on their Pay Governance memorandum.

In 2025, Institutional Shareholder Services (ISS) opposed 10% of S&P 500 company Say on Pay (SOP) proposals. This was consistent with ISS’s historical average “against” rate from the previous five years (2020 through 2024). In this Viewpoint, we explore the ISS quantitative pay-for-performance (P4P) outcomes and the qualitative rationale provided by ISS for SOP opposition for S&P 500 companies in 2025. We also look ahead to what the findings may signal for the 2026 SOP season.

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