BCI has a history of compensation concerns at Wynn Resorts Limited, having voted against either the triennial advisory vote on executive compensation, or the election of Compensation Committee members, for a number of years. Despite a change in 2018 to an annual say-on-pay, the previous year’s low level of shareholder support (58.7%) did not yield sufficient improvement, and BCI again voted against the advisory vote on executive compensation, as well as withholding votes on two directors. We felt that the compensation plan, as presented, did not provide a sufficient alignment between pay and performance, it lacked sufficient disclosure, and contained features that we do not consider to be in line with best practice. Furthermore, we were disappointed by the board’s lack of responsiveness to shareholder concerns. There was a rarely seen, very high level of dissent, with 80.0 per cent of shareholders voting against the proposal.