CEO Pay, ISS, P4P, Pay for performance, Say on pay More from: Emily Chase, Linda Pappas, Olivia Wright , Pay Governance Emily Chase and Olivia Wright are Consultants and Linda Pappas is a Principal at Pay Governance LLC. This post is based on their Pay Governance memorandum. In 2025, Institutional Shareholder Services (ISS) opposed 10% of S&P 500 company Say on Pay (SOP) proposals. This was consistent with ISS’s historical average “against” rate from the previous five years (2020 through 2024).