April 10, 2014
Equilar’s Interesting Proxy Disclosure Examples
– Broc Romanek, CompensationStandards.com
Equilar sent along these interesting examples – the teaser for those are below:
1. Exelon – Exelon changed the structure of their performance share unit program. In doing so, they granted a one-time transition award to help switch from having a one-year performance period to a three-year performance period. They provided shareholders with a chart to help explain when awards will pay out under all three program types: the “Prior Program”, the “Transition Award”, and the “New Program.”
2. Goldman Sachs – Goldman Sachs provides a chart showing compensation and benefits as a percentage of net revenue. They divide it into two sections, showing the average of ratios before the financial crisis and after and highlights that the average has decreased since the financial crisis.
3. Boston Properties – Boston Properties received a failing Say on Pay vote in 2013. Following this vote, they engaged in discussions with shareholders and ISS to implement changes to their compensation designs. They provide a very clear chart with a column titled “What we Heard” and a second titled “How We Responded”. Afterwards, they gave a timeline of the company’s Say on Pay and shareholder outreach history.