Chemtrade Logistics Income 6 50 Convertible Unsecured Subordinated Debentures T.CHE.DB.E

Executive Compensation (Say on Pay) Results

[Kherson]

In 2018, we introduced an annual advisory ‘say on pay’ vote. That year we received overwhelming support, with 97.05% of the votes cast in favour of our approach to executive compensation. Last year, however, that support fell to 60.86%. Last year’s vote indicated that certain changes were necessary. As committee chair, I want to assure our unitholders that we have listened and are making changes to regain and maintain your support. And, as always, we are committed to regularly reviewing Chemtrade’s compensation policies and program and our governance regime as we strive to continue to improve.

So the question is, do the unitholders now fully support the policy changes for the Executive Compensation? Well this year's results show that 81.73% of votes cast support the changes. That is still a far cry from 97.05%!
But what is really interesting are the actual numbers. In 2019, there were 27,284,521 votes cast supporting the Executive Compensation program while this year there were only 23,400,000 votes cast supporting the Executive Compensation program!
Looks to me like Chemtrade still has room for improvement on this issue!
Kherson