13th Nay on Pay

Stewart Information Services has become the 13th U.S. company to fail to win majority support during a “say on pay” vote this year…

Investors also withheld majority approval from a compensation committee member, W. Arthur Porter, and withheld more than 44 percent support from four other directors… While the small-cap company has lagged its industry peers over the past one- and three-year periods, the total pay for both CEOs increased approximately by 30 percent year-over-year, predominantly due to increases in base salary, time-based restricted stock grants, and a $319,000 non-equity grant when no such grant was awarded in 2009. Each executive also received a $100,000 discretionary bonus in fiscal 2010.

via A 13th Investor Protest Over Executive Pay – Governance., RiskMetrics Group, May 4

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