At the 2021 Annual General Meeting, some "51 percent of our shares voted did not
support our Say on Pay proposal, which was substantially below the support received in
prior years," IBM confirms in its 2022 Notice of Annual General and Proxy Statement
released this week.
Perhaps the nascent beginnings of a shareholder revolt?
https://www.theregister.com/2022/03/09/ibm_executive_pay/