Tag Archives | compensation

Goldman Sachs: Proxy Vote 50

Goldman Sachs

Lloyd Blankfein, combined Chair/CEO – smiling

The Goldman Sachs Group Inc (NYSE:GS, $GS) is a bank holding company and a financial holding company. The annual meeting of Goldman Sachs is coming up on May 20, 2016. ProxyDemocracy.org had collected the votes of two fund families when I checked. Vote AGAINST pay, compensation committee; FOR all shareholder proposals. I voted with the Board’s recommendations 50% of the time. View Proxy Statement.

Graphic from Bidness: Goldman Sachs Group Inc Lloyd Blankfein Heads the List of Top-Paid CEOs. See also  SumOfUs campaign.

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Nextera Energy: Proxy Score 50

Nextera EnergyNextEra Energy Inc (NYSE:NEE, $NEE) is an electric power company in North America with electric generating facilities located in over 30 states in the United States and approximately five provinces in Canada. Their annual meeting is coming up on May 19, 2016. ProxyDemocracy.org had collected the votes of one fund family when I checked. Vote AGAINST pay, compensation committee, stock plan; FOR all shareholder proposals, especially proxy access. I voted with the Board’s recommendations 50% of the time. View Proxy Statement. Continue Reading →

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Proto Labs: Proxy Score 45

Proto LabsProto Labs Inc (NYSE:PRLB, $PRLB) is an online manufacturer of custom parts for prototyping and short-run production. Their annual meeting is coming up on May 19, 2016. ProxyDemocracy.org had collected no votes when I checked. Vote AGAINST pay, stock plan, compensation committee members (Black, Gawlick, & Smith); Vote FOR my proxy access proposal. I voted with the Board’s recommendations 45% of the time. View Proxy Statement via iiWisdom. Continue Reading →

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JPMorgan Chase: Proxy Score 47

JPMorganJPMorgan Chase & Co. (NYSE:JPM, $JPM)  is a financial holding company. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. The annual meeting is coming up on May 17, 2016. ProxyDemocracy.org had collected the votes of one fund family when I checked. Vote AGAINST pay, compensation committee; FOR all shareholder proposals. I voted with the Board’s recommendations 53% of the time. View Proxy Statement. Continue Reading →

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Procter & Gamble: How I Voted – Proxy Score 56

Procter & GambleProcter & Gamble Co (NYSE:PG) provides consumer packaged goods and is one of the stocks in my portfolio. Their next annual meeting is October 13, 2015. ProxyDemocracy.org had collected the votes of four funds when I checked and voted. I voted with the Board’s recommendations 56% of the time. View Proxy Statement

Read Warnings below. What follows are my recommendations on how to vote the Procter & Gamble proxy in order to enhance corporate governance and long-term value.   Continue Reading →

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Call for Papers: Critical Issues for Boards & Institutional Investors

WeinbergCtrThe John L. Weinberg Center for Corporate Governance of the Alfred Lerner College of Business & Economics at the University of Delaware will host a Corporate Governance Symposium on March 15, 2016.  The focus of the Symposium will be “Critical Issues for Boards & Institutional Investors in 2016.”  The Symposium will feature up to four academic papers on corporate governance and a panel discussion featuring speakers from the Delaware judiciary, academic, business and legal communities.  The John L. Weinberg Corporate Governance Best Paper Award will be presented during the symposium luncheon.    Continue Reading →

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H & R Block: How I Voted – Proxy Score 67

H&R BlockH & R Block Inc (NYSE:HRB) provides tax preparation and banking services and is one of the stocks in my portfolio. Their next annual meeting is September 10, 2015. ProxyDemocracy.org had collected the votes of one fund when I checked and voted. I voted with the Board’s recommendations 67% of the time. View Proxy Statement.

Read Warnings below. What follows are my recommendations on how to vote the H & R Block proxy in order to enhance corporate governance and long-term value.   Continue Reading →

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BlackRock: Proxy Score 65

BlackRockBlackRock, Inc. (NYSE:BLK), one of the stocks in my portfolio, provides investment management, risk management and advisory services for institutional and retail clients worldwide. Their annual meeting is coming up on 5/28/2015. ProxyDemocracy.org had the votes of one fund when I checked on 5/19/2015. I voted with Board recommendations 65% of the time.

View Proxy Statement. Read Warnings below. What follows are my recommendations on how to vote the BlackRock 2015 proxy to enhance corporate governance and long-term value.  Continue Reading →

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Illumina: Proxy Score 37

IlluminaIllumina, Inc. (NASD:ILMN), one of the stocks in my portfolio, is a developer and manufacturer of life science tools and integrated systems for the analysis of genetic variation and function.  Their annual meeting is coming up on 5/27/2015. ProxyDemocracy.org had the votes of two funds when I checked on 5/18/2015. I voted with Board recommendations 37% of the time.

View Proxy Statement. Read Warnings below. What follows are my recommendations on how to vote the Illumina 2015 proxy to enhance corporate governance and Continue Reading →

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The Walt Disney Company (DIS): Proxy Score 79

DisneyThe Walt Disney Company $DIS, which operates as a worldwide entertainment company, is one of the stocks in my portfolio. Their annual meeting is coming up on 3/12/2014. ProxyDemocracy.org had the votes of four funds when I checked and voted on 3/8/2015.  I voted with management 79% of the time and assigned them a proxy score of 79.

View Proxy Statement. Read Warnings below. What follows are my recommendations on how to vote the Walt Disney 2015 proxy in order to enhance corporate governance and long-term value. Continue Reading →

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Apple Inc. (APPL): Proxy Score 83

appleUpdate: ISS recommends its clients vote in support of proxy access, calling the proposed eligibility requirements of my proposal at Apple robust, while safeguarding against abuses in the nominating process. Glass Lewis opposes the proposal because “given the company’s… positive financial performance, we do not believe that adoption of this proposal is necessary at this time.”

So, the tool you’ll need when the company is in trouble, you’re supposed to wait until the company is already in trouble to put that in place, according to Glass Lewis… then you wait again until you can make nominations? That’s like waiting until a building is on fire to install a sprinkling system. Apache is the latest company to support proxy access. That company, which sued retail shareowner John Chevedden rather than allow shareholders to vote to eliminate supermajority requirements, seems to have a better grasp of when proxy access is needed than proxy advisor Glass Lewis.

The C$238.8 billion ($189.4 billion) Toronto-based CPPIB and the $182.2 billion FSBA both plan to vote in support of a shareholder proposal calling for proxy access, enabling shareholders to use corporate proxy materials to nominate up to 25% of the board. CalSTRS ($186 billion) voted for proxy access, using the Glass Lewis voting platform. Continue Reading →

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Say-On-Pay Key Coordination Issues

Say-on-Pay (SOP)A recent paper [Miriam Schwartz-Ziv and Russ Wermers,  Do Small and Large Shareholders Have a Say-on-Pay? (October 15, 2014) available at SSRN] investigates the voting patterns of shareholders on Say-On-Pay and finds that ‘small’ shareholders are more likely than large shareholders to use the non-binding Say-On-Pay vote to govern their companies, are more likely to vote for an annual Say-On-Pay vote, and are more likely to vote “against” Say-On-Pay (i.e., to vote against the pay package). Continue Reading →

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