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VINCIT QSV — Stewardship intelligence for listed companies. See your AGM before it happens.

Governance Intelligence.
Stewardship Precision.

VINCIT QSV is a stewardship and governance intelligence platform that transforms how companies prepare for AGMs, engage investors, and navigate stakeholder expectations across international markets.

New: the remuneration database of the entire ASX300. What companies pay, set beside what investors say and how they vote. See what it covers

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New research · September 2026

The Twelve-Year Question

Director tenure, independence and the board chair in the investor voting policies that apply to ASX-listed companies.

By Max Purcell, Founder

The draft 5th edition of the ASX Principles drops the ten-year reference point for independence. Investor policies have not dropped theirs. We read the policies of the 89 investors and proxy advisers that apply to ASX companies and address director independence, and set out what their tests mean for board renewal, independence disclosure and chair succession.

29%
of policies that address director independence set a tenure figure for it
12 years
is the most common figure, two years beyond the 4th edition’s reference point
96%
of those thresholds have been reached by a director’s twelfth year on the board
38%
of positions on the chair require or expect a lead independent director where the chair is not independent

The governance engagement gap

Companies face AGM season armed with spreadsheets, generic proxy advisor reports, and fragmented engagement records. The result: reactive governance, preventable opposition, and missed opportunities to build shareholder alignment.

📊

Opaque Investor Expectations

Institutional investors and proxy advisors each have distinct voting policies buried in lengthy PDFs. No company has time to cross-reference them all against their governance profile, nor engage with every key stakeholder.

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Disconnected Engagement

Prior AGM results, engagement meetings, proxy advisor feedback, and governance profiles for issuers live in separate systems. There's no single view of what happened, what changed, and what's at risk.

⏰

Reactive, Not Strategic

Most companies learn about governance concerns weeks before the AGM — when it's too late. Strategic engagement requires 6–12 months of intelligence-led preparation.

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The Proxy Advisor Divergence

The proxy advisory landscape is fragmenting. JPMorgan has replaced external proxy advisors entirely with an internal AI platform. Wells Fargo has cut ties with ISS in favour of proprietary voting infrastructure. Glass Lewis is abandoning its standard benchmark policy by 2027, moving to customised voting frameworks. ISS is restructuring toward individualised investor recommendations.

The era of predictable, benchmark-driven voting is ending. Companies can no longer assume a single proxy advisor recommendation will cascade uniformly across their register. Understanding each investor's individual position — not just their proxy advisor's benchmark — is now essential.

Quantified Stewardship Vision

VINCIT QSV cross-references your company's governance profile against every institutional investor and proxy advisor on your shareholder register — producing a register-weighted risk briefing that shows exactly where you stand and what to do about it.

Register-Weighted Intelligence

Not generic benchmarks. Every risk assessment is weighted by your actual shareholder register, showing the real-world impact of each governance position.

Five-Tier Outcome Classification

Nuanced, actionable intelligence beyond simple pass/fail — enabling precise identification of where investor positions sit and what drives them.

Intelligent Cascade & Delegation Modelling

Understands delegation and cascades effectively across market-specific positions, regional and global positions. Also effectively delegates based on investor profiles and the influence proxy advisors have on their voting positions.

Prior AGM to Next AGM — Connection Through the Annual Cycle

A continuous cycle from recording last year's results through strategic engagement to AGM readiness tracking. Nothing falls through the cracks.

From data to decision

VINCIT QSV transforms fragmented governance data into a continuous intelligence cycle — connecting what happened at the last AGM to what needs to happen before the next one.

01

Capture

Understand the landscape

Ingest your shareholder register, governance profile, board composition, and prior AGM voting outcomes into a single unified view. The platform builds a complete picture of where you stand today.

02

Analyse

Quantify the risk

Cross-reference your governance positions against the voting policies of every institutional investor and proxy advisor on your register. Identify exactly where opposition will come from, how much of your register is at risk, and which concerns cascade through delegation relationships.

03

Prioritise

Focus on what matters

Surface the governance areas with the highest register-weighted risk. Distinguish between direct opposition, conditional concerns, and case-by-case positions. Understand which changes would have the greatest impact on shareholder alignment.

04

Engage

Act with intelligence

Prioritise investor and proxy advisor engagement based on register influence, governance concerns, and delegation relationships. Track every interaction with structured sentiment analysis and measure effectiveness over time.

05

Model

Test before you commit

Simulate governance changes — board composition, remuneration structure, policy improvements — and see how each scenario shifts investor positions across your register before making real decisions.

06

Report

Inform the Board

Generate governance reports that translate complex stakeholder data into clear, actionable intelligence. Board-ready analysis that connects governance risk to shareholder outcomes.

Institutional-grade data

Every policy extract is sourced verbatim from published investor voting guidelines and proxy advisor benchmark policies — and now paired with six proxy seasons of how those investors actually voted at Australian, UK and European meetings, drawn from SEC Form N-PX filings and official manager disclosures with per-record provenance.

9,500+
Verbatim Policy Records
120+
Institutional Investors & Proxy Advisors
3,900,000+
Observed Vote Records — Australia, UK & Europe
6 Seasons
Voting History FY21–FY26, Incl. the Current Season
6,500+
Listed Companies Covered — Australia, UK & Europe
ASX300
Remuneration Database: Quantum, Plan Design, Measures, Director Fees
75,000+
Remuneration Data Points, Each Traced to Its Report Page
46,000+
Published Vote Rationales, Verbatim
70
Global Managers, Pensions & Super Funds Tracked, Updated Daily

Stated policy, meet revealed behaviour

Policies say what investors intend. Six proxy seasons of actual votes show what they do — and the two rarely read the same. VINCIT QSV holds both, side by side and never merged: roughly one in ten institutional votes at Australian meetings diverges from the board’s recommendation, dissent on remuneration reports ranges from 2% to over 20% depending on the manager, and spill resolutions are opposed by institutions more than 99% of the time.

Season-over-season trends
Which managers are hardening, which are softening — per resolution family, per market, per sector, with deterministic classification over five proxy seasons.
Escalation patterns
Observed sequences only: how often remuneration dissent is followed by votes against directors at the same company the next season — versus each manager’s baseline.
Published rationales, verbatim
46,000+ published rationales and counting: where a manager has published its reasoning for a vote, the exact quote appears alongside the vote — with source document and locator. Never inferred, never paraphrased.

Sourced from SEC Form N-PX filings across 390+ documents and 80+ fund registrants, plus official manager disclosures — including Norges Bank Investment Management’s complete voting record with per-vote published rationales — aggregated to manager level with per-record provenance. Data-quality gates run on every ingest; the new proxy season loads automatically each August, while official disclosures bring current-season votes as they happen. Observed behaviour also calibrates the platform’s AGM projections and appears in every investor prep brief and board report.

NEW · REMUNERATION INTELLIGENCE

Every pay decision, read against the people who vote on it

VINCIT QSV now holds the most comprehensive remuneration database of the entire ASX300: quantum, plan design, performance measures and director fees, every figure traced to the page of the annual report it came from. No other source sets that data beside investors’ own voting policies, their recorded votes and their published reasons. It answers two questions together. How will the investors on your register read your pay, given what their policies say? And how did those same investors vote at other companies that made a similar change or carried a similar concern?

Benchmark on your terms
Build a peer group by market capitalisation, revenue, profit or assets and by GICS sector, or let the platform propose one and explain it. Every measure shows minimum, P25, median, P62.5, P75 and maximum: one clean row per measure, opportunity never blended with outcome.
Plan design you can benchmark
Deferral, vesting, gateways, clawback and malus, measure weightings and hurdles, captured in each company’s own words. See how common each feature is among your peers, and what changed from one year to the next.
Precedent, not guesswork
Find every company that has already made the change you are considering, then see how each investor voted there and the reasons they published. A policy states the intent; a vote at a comparable company shows how it was applied.
Live research on proposed changes
Test a change before it reaches the notice of meeting: where it would sit in your peer group, how the investors on your register have voted on it elsewhere, and what their policies say about it.

Who has already done this, and how did investors vote there?

Illustrative data · companies, investors and figures are fictional
1 · THE CHANGECEO fixed remuneration lifted by 10% or more22 of the ASX300, each with the figure and report page as evidence
2 · THE RESULT8 of 22 took a strike against 20 of the other 278Median vote against: 22%, against 5% everywhere else

HOW THE MEETINGS WENT

25% · a strike The 22 that did it The 278 that did not 0%10%20%30%40%50%60% Vote against the remuneration report · each dot an ASX300 company · line = median

3 · WHICH INVESTORS MOVED, AND WHICH DID NOT

at every other companyat these 22 Investor AAustralian super fund+33 ptsInvestor CEuropean asset manager+23 ptsInvestor EUK asset manager+26 ptsInvestor BGlobal index manager+2 ptsInvestor FAustralian fund manager+1 ptsInvestor DNorth American pension−3 pts 0%25%50%75%100%

4 · WHY, IN THEIR OWN WORDS

“The increase in fixed remuneration is not supported by a change in role, scope or company scale.”Investor A · published rationale · shown verbatim with its source

Four steps on one screen: the change, what happened at those meetings, which investors vote differently when they see it, and the reasons they gave. Investors B, D and F barely move, so the engagement effort goes to A, C and E. A policy states the intent; a vote at a comparable company shows how it was applied.

Where your pay sits in a peer group you define

Illustrative data · companies, investors and figures are fictional

CEO · 24 peers · Materials, $4bn–$12bn market capitalisation

Band = P25 to P75 · line = median · dot = your company

Fixed remunerationSTI maximum, % of fixedLTI maximum, % of fixedTotal maximum n=24 · 17 policy · 7 statutory proxyn=22 · 18 disclosed · 4 derivedn=21 · 19 disclosed · 2 derivedn=20 · 11 disclosed · 9 derived $1.85m · P58150% · P71200% · P86$8.33m · P79 minmax

One clean row per measure: minimum, P25, median, P62.5, P75 and maximum, with a count of how many values are disclosed and how many are derived.

Max Purcell
BUILT BY A REMUNERATION PRACTITIONER
Designed and built by Max Purcell, who has worked on every side of executive pay for more than a decade: as an analyst at a specialist executive remuneration consultancy, as the adviser who established the remuneration advisory practice of a global governance firm in Australia, and in investment stewardship at one of the world’s largest asset managers, where pay resolutions are assessed and voted. The database captures what a remuneration committee, its adviser and an investor each look for, because it was built by someone who has sat in all three seats.
See the remuneration moduleRequest a walkthrough

Built for listed companies

VINCIT QSV is designed for governance and stewardship teams at listed companies across all markets.

Boards

Evidence-based governance intelligence to support board decision-making on remuneration, composition, and shareholder engagement strategy.

Company Secretaries & In-House Counsel

Board-ready governance risk briefings with evidence-based analysis of shareholder expectations and AGM readiness tracking.

Investor Relations

Strategic engagement intelligence with register-weighted insights and proxy advisor cascade modelling to prioritise outreach.

Heads of Reward & Remuneration Consultants

Benchmark quantum and plan design against a peer group you define, test pay against performance, and see how investors voted at companies that made the same change. All before the AGM, not after.

Intelligence meets strategic advisory

VINCIT QSV provides critical governance intelligence — but data alone doesn't navigate the nuances of shareholder engagement. Remuneration design, board composition, capital management, sustainability disclosure, proxy advisor dynamics, and the evolving expectations of institutional investors across different markets all require experienced, tailored advice.

That's why VINCIT QSV is backed by strategic advisory through OpenEngagement, an independent corporate governance and shareholder engagement advisory firm. Together, the platform's quantified stewardship intelligence and hands-on advisory expertise ensure issuers have all of the essential insights — and trusted guidance — to navigate their most critical governance moments with confidence.

Platform intelligence to quantify the risk. Strategic advisory to navigate it.

Turn governance risk into stakeholder alignment

VINCIT QSV is currently in private beta. Get in touch to arrange a platform walkthrough.

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