More frequent shareholder revolts at companies like Norwegian Cruise Line Holdings (NCLH.N) and General Electric show corporate directors should hesitate to hike CEO pay during tough times, according to a new report.

Proxy votes against executive pay at S&P 500 companies became more common last year and were often sparked by "questionable practices and metrics" like when companies eased performance targets during the COVID-19 pandemic, according to a report by As You Sow, a shareholder advocacy group focused on environmental, social and governance (ESG) matters. READ MORE