April 1, 2019
Say-on-Pay: Influencing More Companies Than Thought?
– Broc Romanek
Here’s a teaser from this blog by Rosanna Landis Weaver of “As You Sow”:
Votes against pay packages have inspired responses that address problematic practices, but this year I’m seeing some indications they might cause boards to address quantum as well. One company’s executive chairman asked for his pay to be cut in half. Also, Disney made a very last minute contract change before its annual meeting. Was that done to move specific shareholders from a no to a yes on pay?
Rosanna mentions the lag & opacity in knowing how big shareholders vote. Note that Jim McRitchie recently submitted a rulemaking petition to the SEC regarding real-time disclosure of proxy votes…