Say-on-Pay motion at AGMHello BCdude,
Whether you have only 1 share or a million you are still a part owner of the Company and have the right to vote your shares at the AGM, which I hope you and all other shareholders will do. I appreciate your feedback and encourage you to keep reading the postings in this public forum, from me and other shareholders, some with contrary views. They are all important and well worth reading, and will let you arrive at your own conclusions as to voting decisions.
It is not only Verde where shareholders have issues with executive compensation. Here is the latest article regarding the recent Scotiabank Say-on-Pay vote:
Scotiabank’s advisory resolution on executive compensation, a non-binding vote commonly called “say on pay,” passed with only 60.8-per-cent support at the bank’s annual shareholder meeting Tuesday. Last year, 93.8 per cent voted in favour of the resolution.
Some institutional investors pushed back after Institutional Shareholder Services Inc. (ISS) recommended voting against the resolution. The formula ISS uses to screen company performance relative to executive pay highlighted that Scotiabank had the lowest total shareholder return of any major Canadian bank over one, three and five years, “while the CEO’s compensation was ranked near the top.”
Cheers,
S