The Eager Beavertons spoke with its top 15 institutional shareholders, and about a third of total Class B shareholders over a marked drop in support for its executive compensation policies, last week’s annual proxy statement filing revealed. While the prior five-year average of the non-binding vote was 90% in favor, the vote for 2020’s compensation plan tallied just 54% support. The E.B.s wrote that while shareholders were “largely supportive of the design of the underlying executive compensation program for fiscal 2020,” they wanted further “disclosure on Covid-related adjustments made to payouts.”

A more conspicuous concern voiced by shareholders was CEO John ... Log in to view full article.