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Congratulations! Thanks to the hard work of e-activists like you, the U.S. House of Representatives on April 20 let America’s top corporate executives know it was time to give shareholders a say on executive pay. By a 269 to 134 margin, the House passed H.R. 1257, which had the support of working people and their unions. The bill, introduced by Rep. Barney Frank (D-Mass.), requires public companies to put the pay packages of a company’s five top executives before shareholders each year for a nonbinding vote. Stay tuned for more information as the bill now moves to the Senate. In the meantime, keep up the fight for the reform of the flawed executive compensation system. Send a message to the U.S. Securities and Exchange Commission today and tell the commissioners you support proxy access, which will help end the self-perpetuating system that permits incumbent boards to hand-pick director candidates, making boards truly accountable to shareholders. |