Shareholders of Tech Data Corp., Clearwater, Fla., on Wednesday approved a say-on-pay proposal sponsored by the $250.5 billion California Public Employees Retirement System, Sacramento, at the information technology distributors annual meeting. A shareholder advisory vote regarding changes in executive compensation will now be included in future proxies, according to a Tech Data news release. The vote total could not be immediately learned.
The proposal was backed by three proxy advisers RiskMetrics Group, Glass Lewis and Egan-Jones Proxy Services. CalPERS owns 703,000 shares of Tech Data.