EXECUTIVE COMPENSATION
> Understand and consider competitors compensation practices
to ensure that compensation levels are consistent with industry standards, and address any concerns about current executive
compensation programs.
> Review compensation voting policies of proxy advisory firms and
key institutional shareholders to identify factors that may influence
a "no" vote.
> Ensure that the company's compensation plans and policies are
complied with.
As shown in Unique Broadband Systems, shareholders are
increasingly willing to hold companies accountable when executive
compensation plans disregard their interests. Say on pay is here to
stay in Canada, and, as we have seen in the United States, failed
say on pay votes provide new means and new evidence for a shareholder seeking to challenge executive compensation. Ultimately, it
will be interesting to see how Canadian courts address these issues
and the effects failed say on pay votes will have on both executive
compensation levels and shareholder litigation.
Paul D. Davis
McMillan LLP
Tel: (416) 307-4137
Fax: (416) 865-7048
paul.davis@mcmillan.ca
Paul is a partner in the firm's Capital Markets and M&A Group. He has a
practice focused on mergers and acquisitions, proxy fights, corporate governance,
corporate finance, business restructuring and start-ups, and a broad range of
securities and business law matters for both private and public issuers. Paul is
highly experienced in dealing with boards of directors, management teams and
regulatory bodies.
Richard
Yehia
McMillan LLP
Tel: (416) 865-7263
Fax: (416) 865-7048
richard.yehia@mcmillan.ca
Richard is an associate in the firm's Advocacy and Litigation Group. He is
developing a broad practice in corporate and commercial litigation with particular
emphasis in the areas of corporate governance, banking and restructuring.
Anna Tombs
McMillan LLP
Tel: (416) 945-8021
Fax: (416) 865-7048
anna.tombs@mcmillan.ca
Anna is an articling student in firm's Advocacy and Litigation Group, having
recently graduated from Western University. Throughout law school, she was actively
involved in advocacy competitions. She placed first in Western's Labor Law moot,
first in Western's Bankruptcy and Insolvency moot and was awarded the prize of Best
Oralist in the final rounds of the Canadian national Jessup competition.
www.lexpert.ca | LEXPERT • December 2013 | 43
