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More U.S. companies disclosed the specific goals used in their executive compensation plans in their 2008 proxies than in 2007. However, one-third of companies still did not provide this information.
A Watson Wyatt analysis of the 2008 proxy statements of 75 large, publicly traded companies found that 69 percent disclosed the actual goals on which they based rewards under their 2008 annual incentive plans. Only 54 percent disclosed goals in 2007. For the last two years, the U.S. Securities and Exchange Commission has asked companies to disclose this type of analysis in their proxy statements, unless providing it would result in competitive harm.
In addition, the survey found that slightly more than half of companies provided a detailed description of how total pay earned during 2007 tied to company performance. A smaller share of companies (36 percent) provided an analysis of how well they performed versus industry peers.
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