Proxy advisers recommend investors vote ‘no' on Shopify executive pay [Globe and Mail, The (Toronto, Canada)]
Shopify Inc. Class A Subordinate Voting Shares (SHOP)
Last shopify inc. class a subordinate voting shares earnings: 2/12 07:00 am
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Source: Globe and Mail, The
programs and withhold votes from some members of the board who oversee the company's pay practices. Institutional Shareholder Services and Glass Lewis & Co. say there's a disconnect between Shopify's pay and the company's performance. They cite a stock-option award the company gave chief operating officer Kaz Nejatian that made up nearly all of his US$76-million in total compensation in 2023. The two advisers also decry the lack of any performance measures tied to share awards made to Mr. Nejatian, founder and chief executive officer Tobias Lütke, and other executives. They also say Shopify failed to meaningfully address shareholder concerns after relatively poor results in 2023 in its non-binding advisory vote on the board's approach to executive compensation, known as “say on pay.” Shopify received support of only 77.5 per cent of votes cast – and just 54.9 per cent when excluding Mr. Lütke's votes. The proxy advisers consider support levels below 80 per cent to be cause for con
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SHOP
Earnings
- 8/7/24 - Beat
SHOP
Sec Filings
- 10/15/24 - Form 144
- 9/25/24 - Form 144
- 9/20/24 - Form 144
- SHOP's page on the SEC website