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News Breaks
May 30, 2014
06:29 EDTWMTWal-Mart: ISS 'misconstrues the nature of our executive compensation program'
Wal-Mart said in a filing "Independent proxy advisory firm Glass, Lewis & Co., LLC agreed with the Board and recommended a vote FOR Proposal No. 3. Institutional Shareholder Services, another proxy advisory firm, has recommended a vote AGAINST this proposal. We believe that ISS’s analysis misconstrues the nature and operation of Walmart’s executive compensation program. We believe ISS’s recommendations are incorrect and inconsistent with prior years’ analyses. The primary difference this year appears to be the submission of a letter, dated May 19, 2014, from CtW Investment Group, which contains a number of misrepresentations and intentionally misconstrues our executive compensation program. CtW is a union-affiliated group that has a long and consistent track record of opposing Walmart, with its sole motive being to undermine the company in an attempt to organize Walmart’s associates. As ISS acknowledges in its report, ISS’s own quantitative analysis shows that Walmart’s executive pay is of 'low concern,' with executive pay aligned with performance, and that Walmart’s CEO pay is low relative to the median of its peers. As described in our proxy statement, Walmart’s executive compensation program emphasizes performance and is intended to closely align the interests of our Named Executive Officers with the interests of our shareholders. The Compensation, Nominating and Governance Committee regularly reviews our executive compensation program to ensure that compensation is closely tied to aspects of our company’s performance that our Executive Officers can impact and that are likely to have an impact on shareholder value."
News For WMT From The Last 14 Days
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April 23, 2015
19:56 EDTWMTWal-Mart blocks shareholder vote to examine possible gender bias, Guardian says
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April 21, 2015
06:18 EDTWMTUS merchants struggle to meet deadline for accepting chip cards, WSJ reports
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April 20, 2015
12:31 EDTWMTWal-Mart workers claim store closings are retaliatory, Fortune says
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April 17, 2015
15:42 EDTWMTWal-Mart to slash layer of in-store management, Bloomberg reports
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April 16, 2015
06:05 EDTWMTFormer Wal-Mart CEO Duke heads to Carlyle Group, WSJ reports
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April 14, 2015
18:32 EDTWMTCourt rules Wal-Mart can reject shareholder proposal on gun sales, WSJ says
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April 12, 2015
15:43 EDTWMTWal-Mart's Walton family puts shares in newly formed trust, Reuters says
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