WFC: Shareholders to vote on Executive Compensation

Wells Fargo shareholders get "say on pay"


Wells Fargo & Co (WFC.N) shareholders will have a "say on pay" vote at the annual meeting in April, the bank said on Tuesday.

The vote, only the second in the bank's history, results from a review of corporate governance and regulatory trends as well as shareholder input, Wells Fargo said in a statement.

Compensation for bank executives remains a hot-button issue, even after banks like Wells Fargo repaid government bailouts.

Wells Fargo shareholders will get to vote on compensation for the five executive officers named in the bank's proxy statement, expected to be filed with the Securities and Exchange Commission in the middle of March.

Comment: A good way to go! Wouldn't hurt to have this in churches too! I am basically divested of WFC so I won't have much of a vote. I might have 10 or 20 shares!

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