meaning of "say-on-pay" provision

"say-on-pay" provision meaning in Insurance Dictionary

A key supply inside the Dodd-Frank Act that needs openly held companies to send executive compensation intends to nonbinding, advisory votes by investors every 3 years. But given the purely advisory nature of these requirements, companies are not required to change their particular settlement bundles according to shareholder ballots. More over, businesses that elect to disregard shareholder comments can do so with digital impunity because the legislation does not specify any charges if organizations reject such votes.