Celtic manager Neil Lennon claimed it was "ridiculous" that none of his players had made the shortlist after their success this season.
But Wishart revealed that seven of Lennon's side had received votes from their peers, but none of them received enough votes to make the four-man shortlist.
Wishart said: "Celtic have had a fantastic season and I think the voting in a strange way reflects their season because seven Celtic players received nominations, they were voted for by their peers.
"They didn't quite make it into the top four but I think it reflects the team effort Celtic have had because they have so many good players this season."
When asked how that compares to other teams in the SPL, Wishart said: "The only other club I think was Motherwell - Nicky Law received a number of votes as well.
"I think seven players is about as wide a spread as we have had. So many Celtic players had an excellent season that the votes were spread across them."