NEW YORK (Reuters) – Only 31% of votes cast in a shareholder advisory referendum on Tuesday supported JPMorgan Chase & Co (NYSE:) in its special $52.6-million award last year to CEO Jamie Dimon to stay on the job for at least five more years.

A surprising rebuke from shareholders was made when the preliminary count is announced at the meeting.

Although say-on-pay votes can only be advisory, Dimon (66) is likely to retain the award. However, investors closely follow them as a way of assessing investor attitudes towards executive pay.

Consulting firm Semler Brossy reported that the average company support for their pay packages fell to 88.3% in 2021 from 89.6% 2020 and 91% in 2019.

Two major advisory firms that investors trust when they vote had suggested to their clients this year that they vote no in JPMorgan’s special vote due to the award.

This July award was more significant than the usual Dimon annual salary.

This award was distinct from Dimon’s normal annual salary package of up to 34.5 million dollars for 2021.

JPMorgan had a low approval rate in the past, at 62% in 2015. More than 90% of the votes cast are in approval.