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Add Nike (NKE) to the growing list of companies that have adopted formal policies letting them claw back executive pay if things go badly wrong. And add it to the almost equally long list of those whose clawback policies risk being meaningless, either because they’re too narrow or too vague. At Nike, the new policy [...]
When a chief executive’s contract is renewed, we tend to see pay rise, perks expand and change-in-control provisions become more generous. So we admit to being a little surprised when we saw the new agreement City National (CYN) inked with its chairman and CEO, Russell Goldsmith. The agreement was disclosed in an 8-K filed on [...]
The filings are pouring in fast and furiously today, but the footnoted staff is taking time out to share some celebratory news that’s definitely worth a gold star… maybe even two! We’ve come across several companies that are eliminating one of the grossest perks out there – the tax gross-up. Anyone who wades through proxies [...]
When it’s time to make executive compensation decisions, companies seek input from several sources. Those usually include the Compensation committee, the executives themselves, and outside consulting companies that specialize in researching what other executives at the ubiquitous “peer companies” earn. But Comp committees often act as though shareholders – like children born in the 1950s [...]
Anyone who hangs out around kids will eventually hear some whiny version of, “I should get (fill in the blank) because everyone else has it.” But being in proxy season, we find that there’s plenty of executives who try to use that logic, too. Proxy after proxy tells us that – “in order to attract [...]
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