Nutrisystem, Inc. (NTRI) 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 one fund voting when I looked yesterday (CBIS). MoxyVote.com had no recommendations. I see on the Summary Compensation Table that CEO/Chairman Joseph M. Redling was paid $5 million this year, $3.5 million last year, and $7 million the year before. Soon it starts to add up to real money. That’s too high for a company of this size. 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 Nutirisystem. These sums are just too high. Other than that, I voted with management.
| NUM. | PROPOSAL TEXT | McRitchie | |
|---|---|---|---|
| 1.1 | Elect Director Robert F. Bernstock | For | |
| 1.2 | Elect Director Michael F. Devine, III | For | |
| 1.3 | Elect Director Laura W. Lang | For | |
| 1.4 | Elect Director Theodore J. Leonsis | For | |
| 1.5 | Elect Director Warren V. Musser | For | |
| 1.6 | Elect Director Joseph M. Redling | For | |
| 1.7 | Elect Director Brian P. Tierney | For | |
| 1.8 | Elect Director Stephen T. Zarrilli | For | |
| 2 | Ratify Auditors | For | |
| 3 | Advisory Vote to Ratify Named Executive Officers’ Compensation | Against | |
| 4 | Advisory Vote on Say on Pay Frequency | One Year |
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