Subodh Mishra, Institutional Shareholder Services writes about the increase in no votes on golden parachutes. The number of US corporate change-in-control transactions that came to a vote with a golden parachute proposal has remained stable from 2017 to 2022, ranging from 146 to 178 proposals, with the exception of 2020 which had only 87 proposals…
Tag: say on pay
Less Diversity On Boards Leads to More CEO Overpayment
A new report from ISS finds that CEO pay plans that get the highest “no” votes from shareholders are more likely to be less diverse. In other words, boards with more diversity are less likely to propose CEO pay plans that shareholders deem excessive. Interestingly, it was not just high-profile, large companies that were the…
CalPERS Votes Against Pay at 1,195 Firms – Corporate Governance
Jim McRitchie reports on CalPERS votes against pay plans: Equilar announced, in partnership with CalPERS, the release of the CalPERS P4P Scorecard in Equilar Insight, the leading executive compensation benchmarking software solution. The release of the new scorecard is an extension of the five-year realizable pay calculation CalPERS and Equilar released earlier this year. Said…
Executive Compensation: The Role of Public Company Shareholders
Barbara Novick of BlackRock, Inc., one of the largest and most powerful institutional investors in the world, wrote about CEO pay and the role of shareholders. Of particular note is her assessment of proxy advisors, making it clear that proxy advisor clients appreciate the analysis and recommendations but have their own views. Proxy advisors are…
The Test of Time: Adapting to a New Era of Executive Compensation
In 2018, CalPERS voted against 45.4% of the S&P 500 on Say on Pay, according to corporate governance nonprofit As You Sow. These results are drastically higher than in previous years, as its five-year average for opposing Say on Pay votes was 16%. According to Simiso Nzima, Investment Director of Global Equity at CalPERS, among…
Fidelity Votes No on GE Pay
Some Fidelity Investments funds voted this spring to oppose the compensation received by General Electric Co. CEO John Flannery and other top GE executives, according to regulatory filings published last week…. Fidelity was in the minority on the pay question. Among GE shareholders, “yes” votes outnumbered “no” votes by a more than 10-to-1 margin. Boston…
Disney shareholders vote against CEO Iger’s pay package
Walt Disney Co shareholders rejected an executive compensation plan that could reward Chief Executive Officer Bob Iger with up to $48.5 million a year over four years plus an equity grant worth about $100 million, in a non-binding vote on Thursday [March 8, 2018].<P><P>The total compensation is tied to the closing of Disney’s planned $52.4…
ValueEdge Advisors 