After the decision was delayed, Activision shareholders reached an agreement on the company’s Say-on-Pay proposal. The board also has a large re-election throughout the company, with an average of 96% of the votes cast.
The Say-on-Pay decision was initially postponed after complaints about the “misleading information” surrounding the proposal.according to To the company, That information is said to have been a factor in determining whether shareholders will pass the compensation plan. The conversation is ongoing, especially regarding the salaries of current CEO Bobby Cotic and how these profits will be filtered in the future.
What is Say-on-Pay?
Say-on-pay is a corporate term that essentially describes the ability of a company’s shareholders to vote for management’s monetary compensation. The topic of compensation at Activision Blizzard is a hot topic, especially as the CEO’s salary remains the highest in the business, even while the company is experiencing a major furlough. Kotick had one of the largest payments in the industry in the same year, with more than 800 employees fired and more fires continued throughout the year. This meant that while some shareholders and investment groups opposed Activision Blizzard’s monetization practices and structure, approval means that compensation plans proceed as planned based on shareholder feedback. Activision Blizzard’s Say-on-Pay isn’t perfect, but it’s in better shape than the previous year.
In a statement Game Informer, A spokesperson for Activision Blizzard said: “Activision Blizzard shareholders have re-approved our say-on-pay proposal and re-elected directors with an average of 96% of the votes, based on extraordinary shareholder returns and responses. Additional time requested by shareholders. This allowed us to thoroughly consider the changes that the Board made to executive compensation based on the facts about Activision Blizzard’s rigorous performance compensation practices and extensive shareholder feedback. “
With Say-on-Pay, Activision postponed investor voting on the proposal when a particular group (remaining obscured) urged them to vote against the concept. CtW Investment believes the issue is “unresolved,” despite voting in favor, as several prominent groups of investors are opposed to this concept.In a statement made in GI.biz, Michael Varner, CtW Director of Executive Compensation, has stated that the wage scale issue for Activision Blizzard is not over.
“The proposal received little majority support, as only 54% of the votes were cast in favor. Activision seems to have twisted its arms enough to pass the bill,” Berner said. Told the site. “Most importantly, keep in mind that Say on Pay votes in the 50% range are very rare. Less than 4% of companies with the wider Russell 3000 Index have Say on Pay proposals on S & P. I don’t get that much support. 500 is 88.6%. “
“Activision is expected to make further changes in response to a vote that 46% of shareholders have complained about, and the changes that Kotic has made so far are” not to be content with glory, “he added. Added. It’s also the sixth time in the last eight years that Activision received less than 70% of the support for the Say on Pay proposal, and the 2021 vote was among the support the company received for this proposal. Is the lowest. “