Valuewalk.com: SRI Groups Appear To Be The Most Active Investors
ValueWalk.com recently published an article about corporate engagement in the Sustainable and Responsible Investing industry. Michael Ide writes: “…Trillium Asset Management, which had the highest percent VAM (votes against management) and $1.5 billion AUM, was unsurprised to learn that they voted against management more than half the time, or that they were one of the most vocal investors that a company might have to work with. Trillium actively engages management on environmental issues, privacy concerns, disclosure and accountability for political donations, and more. It is also stringent on compensation packages. ‘We have high standards on remuneration, and draw a hard …
JPMorgan Chase & Co. – Executive Compensation (2012)
WHEREAS: Income inequality is a growing problem in the United States. According to the U.S. Census Bureau, in 2010, 46.2 million Americans lived in poverty—including more than 1 out of every 5 American children. (http://www.census.gov/hhes/www/poverty/data/ incpovhlth/2010/highlights.html) Many in America’s once robust middle class are now struggling to make ends meet. While the bottom 99 percent of Americans face increasingly tough times, the share of income going to the top 1 percent, especially the top 0.1 percent, continues to grow. An October 2011 report from the Congressional Budget Office found that in 1979, the top 1 percent received about the same …
Heading into Corporate Annual Meeting Season, Trillium Announces Four Shareholder Proposals Withdrawn
Trillium Asset Management Corporation (“Trillium”) is pleased to announce the withdrawal of four shareholder 2010 resolutions as we head into the annual meeting season. Resolutions filed with Plum Creek Timber, Lincoln Electric, State Street Bank and Whole Foods Market have resulted in changes to corporate policies that will have a positive impact on transparency, corporate governance and workplace diversity. Plum Creek Timber Company (PCL): Say on Pay Our “say on pay” proposal called upon management to submit an advisory resolution on executive compensation for shareholder approval at annual meetings. After evaluating the resolution, for which Trillium was the lead filer, …
Plum Creek Timber Co. – Say on Pay (2010)
RESOLVED Shareholders of Plum Creek Timber Companyrequest the board of directors to adopt a policy that provides shareholders the opportunity at each annual shareholder meeting to vote on an advisory resolution, proposed by management, to ratify the compensation of the named executive officers (“NEOs”) set forth in the proxy statement’s Summary Compensation Table (the “SCT”) and the accompanying narrative disclosure of material factors provided to understand the SCT (but not the Compensation Discussion and Analysis). The proposal submitted to shareholders should make clear that the vote is non-binding and would not affect any compensation paid or awarded to any NEO. …
J. P. Morgan Chase & Co. – Pay Disparity Report (2010)
WHEREAS Recent events have increased concerns about the extraordinarily high levels of executive compensation at many U.S. corporations. Concerns about the structure of executive compensation packages have also intensified, with some suggesting that the compensation system incentivized excessive risk-taking. In a Forbes article on Wall Street pay, the director of the Program on Corporate Governance at Harvard Law School noted that, “compensation policies will prove to be quite costly—excessively costly—to shareholders.” Another study by Glass Lewis & Co. declared that compensation packages for the most highly paid U.S. executives “have been so over-the-top that they have skewed the standards for …
United Health Group – Say on Pay (2009)
RESOLVED Shareholders of UnitedHealth Group request the board of directors to adopt a policy that provides shareholders the opportunity at each annual shareholder meeting to vote on an advisory resolution, proposed by management, to ratify the compensation of the named executive officers (“NEOs”) set forth in the proxy statement’s Summary Compensation Table (the “SCT”) and the accompanying narrative disclosure of material factors provided to understand the SCT (but not the Compensation Discussion and Analysis). The proposal submitted to shareholders should make clear that the vote is non-binding and would not affect any compensation paid or awarded to any NEO. …
Citigroup Inc. – Say on Pay (2009)
RESOLVED The stockholders of Citigroup Inc. (“Citigroup”) request the board of directors to adopt a policy that provides shareholders the opportunity at each annual shareholder meeting to vote on an advisory resolution, proposed by management, to ratify the compensation of the named executive officers (“NEOs”) set forth in the proxy statement’s Summary Compensation Table (the “SCT”) and the accompanying narrative disclosure of material factors provided to understand the SCT (but not the Compensation Discussion and Analysis). The proposal submitted to stockholders should make clear that the vote is non-binding and would not affect any compensation paid or awarded to any NEO. …
‘Say on Pay’ Gathers Steam Heading Into 2009
Are we the only ones wondering why the daily sight of Wall Street and Detroit execs begging for bailouts while making off with millions hasn’t incited rioting in the streets? Consider just one case. Former Merrill Lynch CEO Stanley O’Neal walked away with $161 million dollar exit package shortly before the company’s high stake bets in the mortgage market unraveled, revealing losses that exceeded all the profits the firm had earned over the past 20 years. Investors tallied their losses, taxpayers subsidized the takeover of Merrill, and thousands of employees joined the ranks of the unemployed. How did we arrive …
Intel – Say on Pay (2009)
RESOLVED The shareholders of Intel request the board of directors to adopt a policy that provides shareholders the opportunity at each annual shareholder meeting to vote on an advisory resolution, proposed by management, to ratify the compensation of the named executive officers (“NEOs”) set forth in the proxy statement’s Summary Compensation Table (the “SCT”) and the accompanying narrative disclosure of material factors provided to understand the SCT (but not the Compensation Discussion and Analysis). The proposal submitted to shareholders should make clear that the vote is non-binding and would not affect any compensation paid or awarded to any NEO. SUPPORTING STATEMENT …
UnitedHealth Group – Say on Pay (2009)
RESOLVED The shareholders of UnitedHealth Group request the board of directors to adopt a policy that provides shareholders the opportunity at each annual shareholder meeting to vote on an advisory resolution, proposed by management, to ratify the compensation of the named executive officers (“NEOs”) set forth in the proxy statement’s Summary Compensation Table (the “SCT”) and the accompanying narrative disclosure of material factors provided to understand the SCT (but not the Compensation Discussion and Analysis). The proposal submitted to shareholders should make clear that the vote is non-binding and would not affect any compensation paid or awarded to any …
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