Motorola Inc. shareholders voted 51.8% in support of a say-on-pay proposal calling for an annual shareholder advisory vote on executive compensation, according to an announcement of preliminary proxy-voting results from the company’s May 7 annual meeting. The only other U.S. companies where the majority of shareholders voted for say on pay were Verizon Communications Inc. and Blockbuster Inc. Officials at the companies haven’t said if their boards will implement the proposal.
Also at Motorola, 59.2% of shareholders voted in favor of a proposal to recoup unearned incentive pay from executives. Carl C. Icahn received 43.5% of the votes in his contested bid for election as a director, losing to incumbent John A. White, who received 56.5%.
Jennifer Erickson, spokeswoman for Schaumburg, Ill.-based Motorola, couldn’t be reached for comment.
