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Verizon’s activist retirees have launched two proxy proposals on this year’s ballot for the annual shareholders' meeting in an effort to keep the telco’s executive management team more accountable.
One of the proposals calls to claw back earnings from executives whose conduct harms shareholders, while another prohibits above-market earnings for senior executives on certain retirement and deferred income accounts. READ MORE
On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act, which amended certain provisions of the Internal Revenue Code of 1986. Bank boards and management teams should take time to familiarize themselves with these changes, as several amendments to the Code relate to the payment of executive compensation. READ MORE
U.S. public pension fund CalSTRS said on Wednesday it is opposed to Tesla's recommendation to support Chief Executive Elon Musk's compensation arrangement at the electric car maker's shareholder meeting.
The Silicon Valley billionaire's compensation package announced in January involves no salary or cash bonus but sets rewards based on Tesla's market value rising to $650 billion over the next 10 years. READ MORE
The Office of Management and Budget is committed to improving government’s performance. But while reorganizing and eliminating unnecessary jobs could reduce costs, that does not necessarily lead to better results. Reorganizations actually tend to disrupt working relationships so, for a time at least, performance often declines. Real gains come from assembling essential talent, adopting management practices that encourage collaboration and focus on organizational goals, and empowering employees to proactively achieve goals. READ MORE
At his own recommendation, Sloan isn't receiving a cash bonus, according to filings late Wednesday. The CEO cited "significant but incomplete progress on addressing compliance and operational risk-management issues."
That's one way to describe the series of scandals that have rocked Wells Fargo (WFC) for the past year and a half, prompting unprecedented sanctions in February from the Federal Reserve. READ MORE
Are employees satisfied with your company’s benefits? While three-quarters of HR professionals responding to a SHRM study said they believe employees are happy with benefit offerings, only 27% of employees reported high satisfaction. READ MORE
The Treasury Department is considering whether it should apply reasonable-compensation rules—an idea used to keep S corporation owners from underpaying taxes—to partners and sole proprietors as well, in light of the new tax law. READ MORE
If Elon Musk can do it , I can too. Right?
That's apparently the newest mantra of corporate CEOs hoping to get their boards of directors and shareholders to approve a potentially enormous payday. What I'm talking about is companies modeling compensation packages after Tesla 's (NASDAQ: TSLA) performance award package for Elon Musk that may pay him $78 billion over the next 10 years . Now, Axon Enterprise 's (NASDAQ: AAXN) CEO, Rick Smith, is following with his own massive performance package that may misalign his interests and those of long-term shareholders. READ MORE
It's a myth that workers' foremost concerns when looking for a job is finding a company that will offer fancy bells and whistles — bean bags, ping pong tables and craft beer. The truth is that for most workers, pay and benefits are what matters most. In fact, almost one-third of millennials say they would break up with their significant other for a raise. READ MORE
Sen. Bernie Sanders (I-VT) on Wednesday asked Pentagon Comptroller David Norquist during a Senate Budget Committee hearing to provide him with a report detailing how the Defense Department can effectively negotiate CEO salaries of defense contractors.
Norquist said he was unaware of anything the Defense Department could do to impact the compensation of CEOs at private companies, but said U.S. taxpayers “should be paying for the service that we receive.” READ MORE
Tesla Inc.'s shareholders are considering a proposal to award CEO Elon Musk a $2.6 billion compensation package, and two of the Palo Alto-based company's largest shareholders are backing it, according to a report from Bloomberg News. READ MORE
If your company has not reviewed its compensation systems to ensure pay equity for female employees, now is the time to do so. In the fall of 2017, the Equal Employment Opportunity Commission (EEOC) released its 2018-2021 Strategic Plan announcing pay equity would be one of its six major priorities. Since then, four high-profile settlements have demonstrated the EEOC will be vigorously enforcing the Equal Pay Act and Title VII to ensure wage equality. READ MORE
Executive compensation has been out of whack for years, but occasionally a giant payday illustrates just how broken the system is.
Snap provided just such an eye-opener last week when it disclosed how much it paid CEO Evan Spiegel in 2017. His tally: a whopping $638 million. READ MORE
Got stock options at work and have no idea what you should do with them? Join the crowd.
A recent survey from Schwab Stock Plan Services shows most employees — 76 percent — have never exercised their stock options or sold shares that are part of their equity compensation. Close to half (48 percent) said they've held off due to fear of making a mistake. READ MORE
Snap Inc Chief Executive Evan Spiegel received $637.8 million as total compensation last year after the company went public, the third-highest annual payout ever received by a company’s CEO. READ MORE
A potentially embarrassing math calculation employers have long hoped to escape - one that pay experts thought was dead following President Donald Trump's election - can no longer be avoided. READ MORE
Although adopted back in 2015, the SEC’s pay ratio disclosure rule has been receiving a lot of attention lately, as companies grapple with it for the first time during the 2018 proxy season. The rule was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act and generally requires a public company to disclose in its proxy statement the pay ratio between its chief executive officer and its median employee for the most recently completed fiscal year. In particular, the rule requires disclosure of each of the following items: READ MORE
In today’s business reality, an organization’s biggest investment is its human capital. In fact, employees are the key to any successful company. Unfortunately, the insurance industry faces an increasingly challenging war for talent. From a mass exodus of tenured, skilled professionals to a shallow talent pool, the recruiting climate within insurance is heating up. READ MORE
Over the last few articles on retirement planning, I've talked about "qualified" plans. These are investment vehicles that are specifically sanctioned by the tax code. If they follow certain rules, then they are "qualified," which gives them two key benefits: deductible contributions and tax-deferred growth. READ MORE