Investors Re-elect Disney Board, Reject Say On Pay
LOS ANGELES, March 10 (Reuters) – Shareholders at Walt Disney Co’s (DIS.N) annual meeting on Tuesday re-elected the company’s 12 directors but defeated proposals that would have given investors an advisory say on executive compensation.
Disney investors also voted down a proposal that would have barred the entertainment company from providing death benefits to the families of executives who die on the job.
Shareholders overwhelmingly approved two company-sponsored amendments to its executive compensation plans that would allow Disney to increase the number of shares available for granting to one person.
The shareholder-sponsored “say on pay” proposal received 27 percent of shares cast at the meeting, and the “golden coffin” proposal garnered 39 percent.
Directors were re-elected with 90 percent support from shares voted at the meeting, and the compensation plan amendments received 94 percent.
About 84 percent of the common shares available for voting were cast at the meeting in Oakland, California. (Reporting by Gina Keating; editing by John Wallace)