Challenge to Musk’s $56 BILLION Pay Package

From Rebecca Bellan via Veritas: As if Elon Musk didn’t have enough on his plate, the world’s richest man is headed to court to defend his $56 billion Tesla pay package. Richard Tornetta, a Tesla shareholder who filed suit in 2019 to rescind Musk’s 2018 pay deal, claims the package — “the largest compensation grant…

Agenda – SEC’s Clawback Rule Could Change Compensation Structures

After years of anticipation from corporations, institutional investors and better-business advocates, the Securities & Exchange Commission adopted its final clawback rule this week requiring companies to recover erroneously awarded incentive-based compensation after making a financial restatement. The new rule will force companies to craft policies aligned with the SEC’s standards — and that also goes…

You Won’t Believe How Crazy CEO Pay Has Gotten Now | The New Republic

CEO pay no longer rises with the stock market; it rises well in excess of the stock market—more than one-third faster, according to a new report by Economic Policy Institute (EPI) research director Josh Bivens and research assistant Jori Kandra. It’s still true that a typical pay package for the CEO of a major corporation outperforms whatever company the CEO happens…

SEC Commissioner Caroline Crenshaw: Late Summer Sunshine: Statement on the Adoption of Pay Versus Performance

Today the Commission adopted a rule that provides investors with information about how corporate executives are paid. That is, quite simply, it. This rule does not regulate the way companies incentivize their executives, but rather the disclosures that companies are required to make about such compensation. More specifically, Pay Versus Performance disclosures give investors insight…

CEO-to-worker pay ratio 2022: ‘greedflation’ salaries list

Recently, the word “greedflation” has caught on to explain the out-of-control prices U.S. consumers are facing. It argues the rising cost of gas and groceries isn’t owing entirely to trade disruptions or expense hikes along the supply chain—corporate greed is as much to blame, and companies are using the veneer of inflation to justify upping…

AMC Holders Rejection of CEO Adam Aron’s $19 Million Pay – Bloomberg

AMC Entertainment Holdings Inc. shareholders rejected the company’s proposed executive pay plan at its annual meeting Thursday, a rare rebuke of a management team that collected tens of millions of dollars last year.The vote was advisory, meaning the company isn’t obligated to change its executive remuneration plans. … Two of the most prominent proxy advisers,…

Executive Excess 2022 – Institute for Policy Studies

We examined compensation over the past year at the 300 publicly held U.S. corporations that had the lowest median wages in 2020. The CEO-worker pay gap at low-wage corporations grew even wider in 2021. At 106 of the 300 firms we studied, median worker pay did not keep pace with inflation. The average gap between…

Investors Expect ESG Metrics in Executive Compensation: IR Magazine Survey

IR Magazine has a new survey showing strong investor interest in executive compensation as an indicator of investment risk and return and in ESG metrics in incentive pay. Just under seven in 10 investors consider executive compensation as part of their investment thesis.  Alignment of interests between management and shareholders is the key benefit investors…

Shareholders Vote Yes on Pay, No on Shareholder Proposals at Amazon

At its annual meeting for shareholders, Amazon’s investors approved a more than $212 million payout for CEO Andy Jassy [despite recommendations against from ISS and Glass-Lewis and a pay ratio of 6000/1] and voted against 15 proposals asking the company to report on worker safety, climate goals, pay rates, use of its face recognition technology…