A look at selected shareholder proposals for bank compensation in the upcoming 2010 proxy season.
Proposal, Proponent and Firm(s)
Require executives to hold stock in their own companies
AFL-CIO at Morgan Stanley, Bank of New York Mellon, JP Morgan and Citigroup.
Ban current and former CEO's from serving as directors on compensation committee:
AFL-CIO at Goldman Sachs
Study or adopt a policy that could claw back pay for up to five years based on subsequent performance.
SEIU at Bank of America
Survey pay differences between top executives and other workers:
Benedictine Sisters of Mt. Angel & Nathan Cummings Foundation at Goldman Sachs; Unitarian Universalist Association at State Street
Report compensation that is non-deductible for federal income-tax purposes:
AFL-CIO at Bank of America, Wells Fargo
Require that shareholders get an advisory vote on executive pay practices:
Calvert Investments at JP Morgan, Morgan Stanley
Outline fees paid to compensation consultants:
Connecticut Retirement Plans at Citigroup
Require a portion of pay be deferred and performance based:
AFSCME at J.P. Morgan
Source: The Wall Street Journal, Target: Wall Street Pay, December 29th 2009