September 11, 2012
Supplemental Materials: The Different Ways to Engage Shareholders
– Broc Romanek, CompensationStandards.com
Many of the panels for our upcoming week of conferences on executive pay are now planning their agendas. One frequent area of discussion will be the “how, when & why’s” of additional soliciting materials. One common complaint from institutional investors is their tendency to find supplemental materials that merely argue about a proxy advisor’s recommendation as not being too useful. Many would rather read about the company’s analysis – and support – for why their pay program is designed a certain way.
So perhaps they found this presentation filed by Freeport McMoRan useful as it delves into the feedback it received on its prior say-on-pay vote and provides analysis of how its program has changed since it failed its say-on-pay last year. The presentation does not comment on any proxy advisory firm recommendations for 2012.