Steris (STE) is one of the stocks in my portfolio. Their annual meeting is coming up today, July 28. Sorry to be so late in posting my vote. I missed the deadline to use the MoxyVote.com platform. Additionally, they had no voting advice on this issuer. ProxyDemocracy.org was slightly better, with advice from one fund, CBIS. They withheld votes from all board members.
Steris looks like a small-cap to me, so the median pay for CEOs was $2.2 million, according to Equilar, as reported in USPX’s Draft Shareowner Guidelines for Say-on-Pay Voting of May 12, 2011. Looking at the Summary Compensation Table, Walter M Rosebrough, Jr. was paid a little over $3 million, more than the median pay. As I have this season where one of the NEOs was paid above median, I voted against the compensation package and against all members of the compensation committee: Kevin M. McMullen, Richard C. Breeden, and John P. Wareham. In all other respects, I voted with management.
| NUM. | PROPOSAL TEXT | McRitchie | CBIS |
|---|---|---|---|
| 1.1 | Elect Director Richard C. Breeden | Withhold | Withhold |
| 1.2 | Elect Director Cynthia L. Feldmann | For | Withhold |
| 1.3 | Elect Director Jacqueline B. Kosecoff | For | Withhold |
| 1.4 | Elect Director David B. Lewis | For | Withhold |
| 1.5 | Elect Director Kevin M. McMullen | Withhold | Withhold |
| 1.6 | Elect Director Walter M Rosebrough, Jr. | For | Withhold |
| 1.7 | Elect Director Mohsen M. Sohi | For | Withhold |
| 1.8 | Elect Director John P. Wareham | Withhold | Withhold |
| 1.9 | Elect Director Loyal W. Wilson | For | Withhold |
| 1.10 | Elect Director Michael B. Wood | For | Withhold |
| 2 | Amend Omnibus Stock Plan | For | For |
| 3 | Advisory Vote to Ratify Named Executive Officers’ Compensation | For | For |
| 4 | Advisory Vote on Say on Pay Frequency | One Year | One Year |
| 5 | Ratify Auditors | For | Against |
Comments are closed.