I just submitted my proxy vote online for the annual shareholders meeting and one of the items to vote on is "Severance Approval Policy". It says the board recommends to vote against this. Does anyone know what this means?
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Here's a hint. Whatever they recommend - vote the opposite.
In a nutshell for example if Lowell is terminated he can get a pkg of 7x annual salary. Board recommendation is vote their side because if they don't have this it's detrimental to the company because they won't be able to attract other top level executives. Absolutely absurd
The serverance for executives is obscene beyond belief.
https://globenewswire.com/news-release/2016/03/21/821849/0/en/Verizon-Retirees-Fight-Against-Even-More-Executive-Golden-Parachutes.html