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5 May 2008, 10:56 am
In the first "say on pay" vote by a U.S. public company, Aflac investors gave 93 percent support to the firm's executive compensation practices, according to news reports. [read post]
23 Jul 2010, 8:23 am by Ted Allen
This week, the American Federation of State, County, and Municipal Employees (AFSCME) and Shareowners.org released a report on how 25 large mutual fund families voted on compensation issues during the 2009 proxy season. [read post]
13 Dec 2011, 11:52 am by Ted Allen
Public pension funds from California, Connecticut, North Carolina, Illinois, and New York City have filed a proxy access proposal at Nabors Industries. [read post]
28 Jan 2010, 3:03 pm by Ted Allen
Thirty activist investors have sent letters to 17 financial institutions urging them to conduct an annual advisory vote on executive pay during the 2010 proxy season. [read post]
12 May 2011, 1:08 pm by Ted Allen
At Bank of America’s annual meeting on Wednesday, investors gave 35.5 percent support (based on votes “for” and “against”) to a new shareholder proposal that seeks to ban reimbursement benefits for relocating executives who lose money on the sale of their homes, according to a company filing.The vote is a solid showing for a first-time proposal. [read post]
23 Mar 2011, 10:31 am by Ted Allen
At its annual meeting today, technology giant Hewlett-Packard failed to obtain majority support during an advisory vote on its pay practices, according to Bloomberg News. [read post]
26 Dec 2006, 6:42 am
A federal judge has dismissed claims by Enron investors against Alliance Capital Management that arose from the service of Alliance executive Frank Savage on the energy company's board. [read post]
25 Jan 2011, 1:40 pm by Ted Allen
In the first "say when" vote at an S&P 500 issuer, Monsanto investors overwhelmingly defied management's triennial recommendation and voted for an annual advisory vote on executive compensation at the agricultural company's annual meeting today. [read post]
9 Mar 2009, 6:35 am
The New York Stock Exchange (NYSE) has reissued a proposal to ban discretionary broker voting in uncontested board elections, prompting speculation among governance observers that the Securities and Exchange Commission may approve the rule change soon. [read post]
4 Mar 2009, 6:08 am
The Canadian Imperial Bank of Commerce (CIBC), the Royal Bank of Canada (RBC), and the National Bank of Canada (NBC) all have agreed to hold an annual advisory vote on executive pay in 2010, becoming the first Canadian companies to do so. [read post]
28 Jun 2011, 6:18 am by Ted Allen
During the first year of advisory votes on executive compensation under the Dodd-Frank Act, investors have overwhelmingly endorsed companies' pay programs, providing 91.2 percent support on average (based on "for" and "against" votes). [read post]
22 Feb 2010, 12:30 pm by Ted Allen
The Council of Institutional Investors (CII) is asking its members to lobby Senate Banking Committee members to keep proxy access and majority voting provisions in the financial reform legislation that is now before the panel.Senator Christopher Dodd, who chairs the committee, is expected to release a revised draft of legislation, the “Restoring American Financial Stability Act of 2009,” later this week, according to CII. [read post]
26 May 2009, 7:01 am
A shareholder resolution seeking an annual advisory vote on compensation received 51 percent support at XTO Energy, proponents said. [read post]
28 May 2010, 8:11 am by Ted Allen
Overall, support for shareholder "say on pay" proposals seeking annual advisory votes has remained robust this season, but has declined slightly from last year.As of May 26, pay vote proposals were averaging 44.5 percent support (based on votes "for" and "against") at 32 companies, according to ISS data. [read post]
26 Jan 2012, 8:54 am by Ted Allen
ISS has partnered with eSecLending to launch a new service called ProxyValue™, which is designed to help institutional investors maximize income generated from the lending of securities while ensuring that proxy voting fiduciary duties are met. [read post]