Summary
This filing is an amendment to a previous 8-K report by The Bank of New York Mellon Corporation (BK), specifically addressing the outcome of a stockholder advisory vote on executive compensation frequency. The amendment clarifies the company's decision following the Annual Meeting of Stockholders held on April 12, 2011. Investors should note that the primary purpose of this amendment is to formally announce the Board of Directors' decision regarding how often shareholders will have a non-binding vote on executive pay. BK's Board of Directors has decided to hold an annual advisory vote on executive compensation. This decision aligns with the majority of votes cast by shareholders at the meeting, which favored a one-year frequency. The company has committed to this annual vote until at least the 2017 Annual Meeting of Stockholders, providing shareholders with regular input on executive compensation practices.
Key Highlights
- 1Amendment to a prior 8-K filing (filed April 15, 2011).
- 2Sole purpose of the amendment is to disclose the company's decision on the frequency of the advisory vote on executive compensation.
- 3The Annual Meeting of Stockholders was held on April 12, 2011.
- 4Shareholders voted on the frequency of the advisory vote on executive compensation.
- 5The majority of votes cast favored a one-year frequency for the advisory vote on executive compensation.
- 6The Board of Directors has decided to implement an annual advisory vote on executive compensation.
- 7This annual vote will continue until at least the 2017 Annual Meeting of Stockholders.