Bloomberg News

Glass Lewis Urges Vote Against Morgan Stanley Executive Pay Plan

May 01, 2013

Morgan Stanley (MS:US) shareholders should vote against the bank’s executive pay plan in an advisory ballot this month, shareholder-advisory firm Glass Lewis & Co. said.

Morgan Stanley gets an ‘F’ grade in tying executive compensation to performance, as the New York-based bank paid better than peers while performing worse, Glass Lewis said today in a report. That compared with a ‘D’ for 2011.

Chief Executive Officer James Gorman’s pay was cut 7 percent to $9.75 million for 2012, and his compensation tied to the year’s performance was 40 percent below target based on the company’s performance, Morgan Stanley said in a March filing. Total shareholder return, including appreciation and dividends, was 28 percent in 2012, below the 36 percent median of the bank’s nine largest peers, the firm said.

To contact the reporter on this story: Michael J. Moore in New York at mmoore55@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net


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Companies Mentioned

  • MS
    (Morgan Stanley)
    • $34.57 USD
    • 0.07
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