'"Say on Pay"' was enacted in the US in 2011 pursuant to the Dodd-Frank Act. Among approximately 2700 public companies that put their executive compensation plans before shareholders for a vote in 2011, only 1.4 percent failed to receive majority approval. in fact, support levels across all companies averaged 90 percent. Results in 2014 were few changes. only 2.4 percent did not receive majority approval and the average support level across all companies was a whopping 91 percent.

explain why shareholders didn't take advantage of their right to vote on executive compensation to register dissatisfaction with the high executive pay levels and overwhelmingly voted in support of Pay packages?