Dynegy Inc. shareholders today defeated a proposal that would have required the company's board of directors to review earnings restatements and recoup incentive bonuses and other awards paid to senior executives for performance targets that were not actually achieved, said David Byford, director-public relations for the Houston-based company. A tally of the vote wasn't available. A company statement following the vote said the "board of directors previously adopted a policy of reviewing compensation in the event of a material restatement of the company's financial results and taking appropriate action."
Amalgamated Bank's LongView Collective Investment Fund sponsored the proposal.
