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On July 28, the House of Representatives Financial Services Committee approved legislation that would give shareholders of publicly traded companies a non-binding advisory vote on the compensation of such companies’ named executive officers at annual meetings of shareholders to elect directors
On July 16, the U.S. Treasury Department delivered draft “say-on-pay” legislation to Congress that would require that all publicly traded companies allow shareholders a non-binding vote on executive compensation as disclosed in the company’s proxy statement for annual meetings held after December 15
