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Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Thursday, May 17, 2007

Executive Compensation Shareholder Proposals Defeated at AMR

At the annual shareholders' meeting of AMR, the parent of American Airlines, two shareholder proposals relating to executive compensation were defeated.  One called for an advisory vote on executive compensation; the other would have required that 75% of stock options and restricted stock awards to executives be performance-based.  A shareholder proposal establishing a procedure for 10% owners to call a special shareholders meeting was passed.  Union representatives were critical of recent bonuses to executives amounting to $21 million, while some shareholders praised the company's recent profitable results.  See NYTimes, Executive Pay Proposals Rejected at AMR

http://lawprofessors.typepad.com/securities/2007/05/executive_compe.html

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