Verizon Communications Inc., New York, announced today the shareholder voting on a say-on-pay proposal is too close to call.
“The preliminary results for the proposal on an advisory vote on senior executive compensation are too close to determine whether the proposal passed or was defeated,” said a statement issued by Verizon following today’s annual meeting. “The outcome will be determined by the final tabulation,” which will be reported in the company’s second quarter 10-Q filing.
Other shareholder proposals were defeated, the statement said. The highest votes in favor were on proposals calling for shareholder approval of future executive severance agreements and for compensation consultant disclosure. Each received 47% of the votes in support.
