Genworth Reports Big Change in Exec Comp Approval Vote
But shareholders passed all board proposals and re-elected all company directors.
(Related: Genworth Reminds Analysts That GLIC Will Stand Alone)
Shareholders of Genworth Financial Inc. may be less happy with Genworth Financial Inc. executive pay this year than they were a year ago.
Genworth shareholders approved every director and proposal included on the proxy card this year, but they approved the 2019 executive compensation item by a much lower percentage this year.
This year, shareholders approved the compensation proposal by a vote of 194,140,26 to 155,807,823, with about 1.6 million abstentions, and about 91 million broker shares not voting.
The compensation proposal won with 55% of the for and against votes cost, but only 44% of all votes cast.
In 2017, the compensation proposal won by a vote of 291,887,842 to 18,480,815, with about 70% of all of the shares voting, and about 94% of the shares that cast either a for or against vote.
But Thomas McInerney, the company’s president, won reelection to the board with 97.2% of the for and against votes cast, up from 96.7% last year.
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