A quick update on say-on-pay voting results, courtesy of Towers Watson.

As of March 21, 120 companies have disclosed voting results. Only two of these companies have failed to win majority support for their say-on-pay proposals.

Among the 118 companies that have received majority support, 77 percent have won more than 90 percent shareholder support.

In terms of frequency, most Fortune 1000 companies are recommending that these votes be conducted annually. Roughly 30 percent have recommended holding say-on-pay votes every three years (triennial votes were the preferred frequency identified by early proxy filers).

Most companies that recommended but failed to gain shareholder support for triennial votes are still pondering their frequency decision, according to Towers Watson.