Proxy advisory group ISS has advised JPMorgan Chase & Co shareholders to vote ag...
FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files/File Photo
The group has twice previously suggested that investors vote against the bank’s executive compensation - in 2015 and 2011 - since the Dodd-Frank law mandated shareholders be given a say-on-pay in 2010.The bank’s board of directors recommended in its proxy filing that shareholders vote to approve executive compensation at its shareholder meeting next week in Chicago.
Although JPMorgan’s compensation committee uses performance assessments to guide the amount of discretionary compensation awarded, ISS wrote in its report that certain “factors assessed were described only vaguely and appear subjective.” JPMorgan Chief Executive Jamie Dimon received a total of $31 million in compensation for the year 2018, which included an annual base salary of more than $1.5 million and performance-based incentive compensation of $29.5 million.
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