Verizon retiree shareholders have two proxy proposals this year asking to prohibit “above-market earnings” for senior executive retirement savings (SERPs) as well as holder approval of “Golden Parachute” payouts exceeding 3x salary and bonus.
Proposals introduced by 134,000-member Association of BellTel Retirees.
Verizon’s 2019 Proxy estimates former CEO Lowell McAdam will get $27 million in separation payments due to retirement, about 5x his 2019 base salary plus short-term bonus, according to statement.
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