Wednesday, May 23, 2012

Simon Shareholders reject (non-binding) pay package for CEO Simon

The WSJ reported that shareholders rejected the pay package for the CEO in a non-binding vote. They actually were focused on the base pay package of $1.25mm per year, not so much the $132mm potential stock option awards, because it was more than 2x that of the other employees at Simon.

It doesn't really seem like that much to me - the company is worth 45 billion and has 3,300 employees. The only surprising thing about the shareholder group's statement is that the next highest paid employee is apparently taking home closer to 1/2 a million - you'd think the other c-suite guys got more, right? I don't really look at salaries much though, so maybe I'm way off here.

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