A majority of shareholders approved Microsoft Corp.’s executive pay package for CEO Satya Nadella and four other top executives, a company news release said.
More than 72% of the non-binding votes cast at the company’s annual meeting Wednesday approved the package, the news release said.
According to previous proxy-voting disclosures, the C$234.4 billion ($205.6 billion) Canada Pension Plan Investment Board, Toronto; $177.8 billion Florida State Board of Administration, Tallahassee; and $1 billion American Federation of State County and Municipal Employees Pension Plan, Washington; all planned to vote against the compensation, while the $187.1 billion California State Teachers’ Retirement System, West Sacramento, and C$140.8 billion Ontario Teachers’ Pension Plan, Toronto, planned to vote in favor of it.
The total compensation for Mr. Nadella, who is also a director of Microsoft, for the fiscal year ended June 30 was $84.3 million, according to the company’s proxy statement.
Further information regarding the vote was not immediately available.
