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BlackBerry Investors Rebuke Watsa, Board Over Executive Pay (1)

June 23, 2022, 3:56 PM

Shareholders of BlackBerry Ltd. rebuked the board and major shareholder Prem Watsa, rejecting the company’s executive compensation plan and voting in large numbers against Watsa’s re-election as a director.

Watsa received just 50.7% support at the Canadian software company’s annual meeting on Wednesday. That means, excluding the 46.7 million shares controlled by Watsa’s Fairfax Financial Holdings Ltd., shareholders representing a majority of the votes at the meeting opposed him.

BlackBerry investors also voted 56% against the company’s compensation plan in a so-called “say on pay” resolution. That was up from 41% opposition in a similar vote last year. ...