Institutional support for shareholder proposals declined sharply to its lowest level since 2021, falling below 25%, according to the landmark ProxyPulse™ Report released today by global fintech leader Broadridge Financial Solutions, Inc.. At the same time, support for shareholder proposals by retail investors rose by two points and remained low, at 21%. As a result, the gap in voting sentiment between institutional and retail segments narrowed to its tightest margin in nine years.

"Ongoing legal, regulatory, and legislative changes have had an impact on corporate governance, as seen by the declining number of shareholder proposals and the lowest level of institutional support since we first tracked this data," said Chuck Callan, Senior Vice President of Regulatory Affairs at Broadridge and co-author of the report. "Voting support for directors and say-on-pay remains strong, as technology developments provide even greater opportunities for all voices to be heard."