December 14, 2020
Executive Compensation & Benefits partner David Teigman shares his insights on how the pandemic has influenced the various considerations and expectations of proxy advisors and shareholders with regard to executive pay packages and the corresponding disclosures made by corporate compensation committees.
Excerpts from “Even in Crisis, Pay for Performance Is ‘Not Going to Fall Away’,” Agenda/Financial Times, December 14, 2020:
Dave Teigman, partner at Cadwalader, Wickersham & Taft, says he was “pleased to see that there was a recognition that these are atypical times, which may require atypical changes to compensation programs.
“I think there is a recognition among ISS and Glass Lewis that pay for performance is still extremely important, and that’s not going to fall away,” he says. That said, he believes that the proxy advisors acknowledge “on a relative basis, if performance has been good, that people still need to be rewarded for their work.”
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