Verizon Shareholders Adopt Say on Pay Proposal

Verizon shareholders adopted a shareholders resolution at the May 3 annual meeting that gives shareholders an advisory vote on executive compensation; 50.18% of votes were in favor of it, the company announced yesterday.  Shareholders were particularly upset by CEO Ivan Seidenberg's $20 million plus pay package, an 11% increase,  when the company's performance was less than stellar.  See NYTimes, Say-on-Pay Gets Support at Verizon; WSJ, Verizon Holders Pass 'Say-on-Pay' Plan.