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Too often, executives' compensation packages have little to do with the performance of the companies they lead.  And while new SEC disclosure rules require companies to provide shareholders with more detailed information about executive compensation, shareholders do not have a meaningful voice in the way boards of directors establish and approve executive pay.

Last year, Sen. Barack Obama (D-Ill.) introduced the Shareholder Vote on Executive Compensation Act (S. 1181) to require that public companies submit executive pay plans to a nonbinding shareholder vote each year. This advisory vote would give shareholders a "say on pay"--a voice in the process of determining executive compensation.  This would give boards an incentive to engage shareholders in meaningful conversations about appropriate levels of executive compensation before approving a questionable compensation plan. S. 1181 would have provided a cost-effective and efficient way to curb excessive executive pay and encourage long-term value creation at public companies.  
 
Please send a message to your senators today and urge them to support giving shareholders a "say on pay."