13:45:00 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



BlackBerry Ltd
Symbol BB
Shares Issued 583,237,331
Close 2023-06-28 C$ 6.61
Market Cap C$ 3,855,198,758
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Globe says BlackBerry holders still wary of execs' pay

2023-06-29 09:01 ET - In the News

The Globe and Mail reports in its Thursday edition that BlackBerry shareholders have approved the company's approach to executive compensation in "say on pay" votes at their annual shareholder meeting, a reversal from rejection in 2022. The Globe's David Milstead writes, however, that some directors at the two companies received negative feedback from shareholders when it came to their re-elections. At BlackBerry, 81.52 per cent of shareholders on Tuesday voted "yes" in the company's advisory vote on executive compensation. In 2022, BlackBerry received 44-per-cent support for its pay philosophy, with 56 per cent of shareholders voting against it. Say-on-pay votes are non-binding, but most companies try to pass with 90-per-cent support or more. BlackBerry faced negative recommendations in 2022 from major proxy advisers. In 2023, both ISS and Glass Lewis recommended "yes" votes, leading to the turnaround. At BlackBerry, the support from proxy advisers was tepid. ISS said it still had concerns about BlackBerry's pay plans, but it said a "yes" vote "is warranted as pay and performance are reasonably aligned at this time." Glass Lewis, meanwhile, gave BlackBerry a "D" grade in its compensation evaluation.

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