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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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February 4, 2016
06:14 EDTWMTWalmart sues Puerto Rico over tax increase, NY Times says
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February 3, 2016
20:02 EDTWMTWal-Mart to build own gas stations going forward, WSJ says
Wal-Mart (WMT) plans to build and operate its own gas stations going forward, though Murphy USA (MUSA) will continue the operate the 1,000-plus stations it has already built near Wal-Mart locations, reports the Wall Street Journal. A Wal-Mart spokesperson told the publication that, when building new stores, the company will add its own gas stations "to as many as possible." Reference Link
February 1, 2016
08:08 EDTWMTMoneyGram, Wal-Mart announce new three-year agreement
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