The Advisors' Blog

– Vineeta Anand, AFL-CIO Office of Investment

Broc recently blogged about “golden coffin” shareholder proposals. Here is a recent WSJ article on the topic – and here are a few samples of this type of proposal that we have submitted to a number of companies.

We have settled with one company, Occidental Petroleum. And a few weeks ago, Comcast filed a Form 8-K, amending the CEO’s employment agreement (and extending it for another year) and removing two of the most egregious provisions of the golden coffin (ie. pay/bonus for 5 years after death and the company-paid life insurance) – but the company kept the acceleration of vesting of stock options and equity awards.

And recently, the SEC Staff rejected Schwab’s exclusion request regarding one of our golden coffin proposals. More news to come…