Activision Holders Affirm Pay Plan After Controversial Delay (3)

Activision Blizzard Inc. shareholders approved the video-game giant’s executive pay proposal, handing the company a victory after it delayed the vote to give investors more time to consider it.

Fifty-four percent of shareholders backed the measure, the company said on Monday. Activision’s board members also were re-elected, by an average of 96%.

Activision took the unusual step of prolonging the say-on-pay referendum after its annual meeting last week. The company complained of “misleading” information that may have swayed shareholders against its executive compensation plan. Chief Executive Officer Bobby Kotick received $154.6 million last year, mostly in the form of stock ...