May 17, 2011
Say-on-Pay: 17th-20th Failed Votes
Last week, four more companies filed Form 8-Ks reporting failed say-on-pay votes: Helix Energy Solutions (34%); Curtiss-Wright (41%); Intersil (44%); and Cincinnati Bell (34%). I keep maintaining our list of Form 8-Ks for failed SOPs in CompensationStandards.com’s “Say-on-Pay” Practice Area.
Early Bird Extended for Say-on-Pay Intensive Conference – But One Time Only: Due to so many requests from those too mired in the proxy season to make the budget request, we have extended the early bird discount for our annual package of executive pay conferences to be held on November 1st-2nd in San Francisco and by video webcast: “Tackling Your 2012 Compensation Disclosures: 6th Annual Proxy Disclosure Conference” and “The Say-on-Pay Workshop Conference: 8th Annual Executive Compensation Conference.” We will not be able to extend this deadline again. Save 25% by registering by June 24th at our early-bird discount rates.
Posted: Complete List of Say-on-Pay Additional Soliciting Materials
Thanks to Dave, we have greatly expanded the list of additional soliciting materials filed by companies who campaigned for their say-on-pay – typically by disputing recommendations made by ISS in a letter to shareholders – in CompensationStandards.com’s “Say-on-Pay” Practice Area. We have 31 examples posted.
A note from a respected compensation consultant: “One of the reasons the Europeans are so muted in their criticism of pay is they get a fraction of the information the US and UK puts out. It is also worth noting that equity is vastly less in the EU than the US, so pay levels are much less.”
DOL: Considers Updating E-Delivery Standards for Employee Benefit Plans
Here’s news from Jeff Capwell and Lindsay Goodman of McGuireWoods, pulled from this memo: The DOL recently issued a request for information about providing information electronically to participants and beneficiaries of ERISA-covered employee benefit plans. Existing DOL standards for electronic delivery of plan information have been unchanged since 2002. Responses must be submitted by June 6th.
– Broc Romanek