Inequality & Pay Ratio Vote Guide

Click here to access Majority Action's downloadable vote guide complete with detailed explanations and citations.

For S&P 500 companies whose annual general meetings are between April 1, 2026 and June 30, 2026, a say-on-pay no-vote was recommended if:

• Key Indicator 1: The company's 2024 and 2025 pay ratios exceed 494:1, ranking it in the top decile of pay ratios among all S&P 500 companies OR
• Key Indicator 2: The company's 2024 and 2025 pay ratio are upper outliers compared relative to other companies in the same sector

Majority Action will update this table as 2026 proxy statements are released. Companies whose 2025 pay ratios do not meet Key Indicator 1 or Key Indicator 2 will be removed from the vote recommendation list.