Say-on-pay frequency battles a clever diversion

by Dominic Jones for IR Web Report, February 25th, 2011.

IT’S early in the US proxy season, but it looks as if shareholders are set to give directors a stern rebuke on at least one of the two say-on-pay items that are on annual meeting ballots this year.

As reported in this article by contributor Vanessa Schoenthaler of Qashu & Schoenthaler yesterday, shareholders are voting against the recommendations of directors in many say-on-frequency votes, which are meant to advise boards on how often shareowners want to vote on executive compensation.

While directors are mostly recommending that say-on-pay votes be held only every 3 years, shareholders are defying them and mostly voting for annual advisory votes. (continue reading… )

 

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