Gilead Sciences (GILD) is one of the stocks in my portfolio. Their annual meeting is coming up May 12. Today is the last day to vote my proxy on the MoxyVote.com platform.
ProxyDemocracy.org had two funds voting when I looked yesterday. MoxyVote.comhad no recommendations. I voted with Domini, except I did not vote against CEO/Chairman Martin, although I’m outraged at his pay. $14 million this year, $14.5 million last year, $12.5 million the year before. Soon it starts to add up to real money. As I’ve discussed before (Just How Clever Are Directors on Pay Issue?), high executive pay is problematic to both the corporation and society for many reasons. I’ve decided, at least for now, the best way to counter the “Lake Wobegone effect” of pay ratcheting ever higher is to vote down almost all packages above the mean. That’s what I’ve done at Gilead Sciences.
| NUM. | PROPOSAL TEXT | MGMT | CBIS | DOMINI |
|---|---|---|---|---|
| 1.1 | Elect Director John F. Cogan | For | For | For |
| 1.2 | Elect Director Etienne F. Davignon | For | For | For |
| 1.3 | Elect Director James M. Denny | For | For | For |
| 1.4 | Elect Director Carla A. Hills | For | For | For |
| 1.5 | Elect Director Kevin E. Lofton | For | For | For |
| 1.6 | Elect Director John W. Madigan | For | For | For |
| 1.7 | Elect Director John C. Martin | For | For | Withhold |
| 1.8 | Elect Director Gordon E. Moore | For | For | For |
| 1.9 | Elect Director Nicholas G. Moore | For | For | For |
| 1.10 | Elect Director Richard J. Whitley | For | For | For |
| 1.11 | Elect Director Gayle E. Wilson | For | For | For |
| 1.12 | Elect Director Per Wold-Olsen | For | For | For |
| 2 | Ratify Auditors | For | Against | For |
| 3 | Amend Executive Incentive Bonus Plan | For | For | Against |
| 4 | Reduce Supermajority Vote Requirement | For | For | For |
| 5 | Provide Right to Call Special Meeting | For | For | For |
| 6 | Advisory Vote to Ratify Named Executive Officers’ Compensation | For | Against | Against |
| 7 | Advisory Vote on Say on Pay Frequency | One Year | One Year | One Year |
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