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Executive Compensation

New Prism Webinar Recording – ISS & Proxy Season Update

On January 12, 2017, we were joined by Peter Kimball, Head of Advisory and Client Services, ISS Corporate Solutions, to discuss the 2017 ISS voting policy amendments and look ahead to highlight items for the 2017 proxy season.

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You can listen to the full presentation HERE.

CEO Pay Ratio Tax

The CEO pay ratio disclosure rules might be some of the first Dodd-Frank Act mandates to be rolled back under the incoming Trump administration, but this potential rule is already having an effect.

On December 7th, 2016, the city of Portland, Oregon, passed an ordinance authorizing a surtax to the city’s business license tax for public companies doing business in Portland based upon their pay ratio disclosure.

A surtax of 10% of base tax liability will be levied if a company discloses a pay ratio of at least 100:1 but less than 250:1. Companies with a disclosed pay ratio exceeding 250:1 will face a surtax of 25%.  This is in addition to the current business license tax of 2.2%.

The latest statistics indicate there are approximately 550 publicly traded companies subject to this mandate in the city of Portland. The current revenue of the business license tax is $17.9 million.  The city projects the new surtax will net between $2.5 to $3.5 million, currently slated to be used partly to fund a city office devoted to homeless services.

It is likely that other cities will consider various bills concerning the pay ratio. In 2014 a bill was narrowly defeated in the California State Senate that would have raised the state tax on all public companies but reduced it for companies with a disclosed ratio less than 100:1. The Rhode Island State Senate passed a bill to give preference in state contracts to companies with small differences between pay ratios, which was ultimately defeated in the House. Massachusetts is also considering enacting similar measures. It is likely a number of other cities and states will monitor this development closely and look at the use of such taxes to help narrow a growing income gap, especially states that have raised the minimum wage.

New Prism Webinar – 2017 ISS & Proxy Update

On January 12th, 2017, we will be joined by ISS to discuss the new 2017 voting policies, the updated equity compensation plan scorecard, and “QualityScore”, and look ahead to the 2017 proxy season.

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Register for the webinar

Brendan Sheehan and David Bobker from the Corporate Governance Intelligence Council will be joined by Peter Kimball, Head of Advisory & Client Services, Institutional Shareholder Services (ISS) Corporate Advisory, from 1-2 PM EST to preview the 2017 proxy season and discuss the application and impact of the amended 2017 ISS Voting Policies.

General Topics for Discussion:

• Shareholder resolution scorecard for 2017

• 2017 ISS voting policy updates

• Focus on the board

• Proxy Access, what’s next?

• ISS Equity Compensation Plan scorecard

• “QualityScore”

 

Executive Compensation Webinar Recording

On September 20th, Brendan Sheehan and David Bobker, from the CGIC, where joined by John Keenan, AFSCME, Michael McCauley, Florida State Board of Administration and Dave Larker, Stanford University Graduate School of Business for an insightful discussion of the intersections and disconnects in views from the corporate, investment and proxy voter communities on Executive Compensation.

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Executive Compensation: Hallmarks of Superb C-Suite Compensation

  • Linking pay to performance
  • Board oversight and incentives
  • Impact upon voting and investment decisions
  • Are investors really hearing what you’re saying? What are investors looking for?
  • Compensation as capital allocation peephole

If you would like to receive a copy of the presentation, or your complimentary copy of the Executive Summary of the Executive Compensation Report, please contact Dave Bobker at dbobker@rivel.com.

Please click here to view the recording of the Executive Compensation presentation.

The Prism: A full spectrum of color on governance issues

The Corporate Governance Intelligence Council is pleased to present a new and unique educational webinar series, “The Prism: A full spectrum of color on governance issues.”
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On September 20th, Brendan Sheehan and David Bobker, from the CGIC, will be joined by Aeisha Mastagni, CalSTRS, Michael McCauley, Florida State Board of Administration and Dave Larker, Stanford University Graduate School of Business to discuss the intersections and disconnects in views from the corporate, investment and proxy voter communities.

We welcome you to join us as we discuss crucial insight and perspectives from all constituencies to provide a true 360-degree view of Executive Compensation, including new data from a study of 75 North American proxy voters.

Register for the webinar

Executive Compensation: Hallmarks of Superb C-Suite Compensation

  • Linking pay to performance
  • Board oversight and incentives
  • Impact upon voting and investment decisions
  • Are investors really hearing what you’re saying? What are investors looking for?
  • Compensation as capital allocation peephole

Speakers:

Aeisha Mastagni: Corporate Governance Investment Officer, The California State Teachers’ Retirement System (CalSTRS)

Michael McCauley: Senior Officer, Investment Programs & Governance Florida State Board of Administration (SBA)

Dave Larker: James Irvin Miller Professor of Accounting, Stanford Graduate School of Business and Senior Faculty of the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford University

For more details on the issues to be discussed please review the co-authored CGIC and Stanford “A Closer Look” paper on Executive Compensation: The “Buy-Side” View on CEO Pay.

Register for the webinar

We hope you can join us!