The head of the House Financial Services Committee introduced legislation Thursday to give shareholders at public companies a say in how their top executives are compensated.
The proposal by Rep. Barney Frank, D-Mass., and 21 other Democrats provides for a vote on compensation awarded in the prior year to a company’s five most highly paid executives. However, because the ballot would be nonbinding, managers are unlikely to lose compensation in the event investors opposed their pay packages.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
For questions call 1-877-256-2472 or contact us at [email protected]