House approves shareholder vote on exec pay

WASHINGTON The U.S. House of Representatives today approved a bill that would require publicly owned restaurant and other companies to submit executive pay packages to non-binding votes of shareholders.

The so-called say-on-pay law, which passed by a 269-134 House vote, would require that shareholders’ yeas and nays on the compensation of “principal executive officers” be solicited via proxy materials distributed for annual meetings taking place after Jan. 1,

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