Companies are moving to make their executive pay programs more appealing to shareholders, according to an analysis of proxy statements released earlier this year. Survey findings show that companies are also looking at overhauling portions of their executive benefit plans and severance policies.
Key Details
The main findings of Watson Wyatt’s study of the proxy statements of 75 large, publicly traded companies are as follows:
* Eighty-seven percent now have stock ownership guidelines and requirements for executives, an increase from 75 percent in 2007.
* Compared with 23 percent in 2007, 38 percent now have a claw-back policy that enables companies to recoup incentive compensation if the financial measures underlying the incentive plans are restated.
* Roughly one in four companies have made or are considering making changes to severance policies.
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