[sokoloff]

Institutional holders tend to vote along the direction recommended by ISS or Glass-Lewis.

Those recommendations do generally follow Board recommendations on strategic topics, but frequently diverge from the board on matters of employee and executive pay (approving increases to share/option pools, etc.)

https://en.m.wikipedia.org/wiki/Institutional_Shareholder_Se...

[kibibyte]

Ah, you're right! I'm now remembering that Vanguard mentions something like this for their default voting methodology, among the few choices they now allow investors to choose from.