Agenda – BlackRock Whacks Boards on Compensation Changes

BlackRock, the world’s largest asset manager and one of many companies’ largest investors, has voted against compensation plans at several large companies this proxy season, including General Electric last week. The asset manager voted against 15% of compensation-related resolutions at its Americas-based portfolio companies that held annual meetings in the first quarter of this year. That’s more than double the percentage of against votes in the same period last year, 7%, according to its investment stewardship report for the first quarter of 2021. Those percentages include both say-on-pay and say-on-frequency votes.

Agenda – BlackRock Whacks Boards on Compensation Changes

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