The Shareholder ForumTM


"Say on Pay" Proposals

Forum Home Page

"Say on Pay" Home Page

Program Reference



September 17, 2009 Forum Report:

Plans for Projects and October 21 Meeting

See also

Agenda for October 21, 2009 Meeting



Forum Report: “Say on Pay”


Plans for Projects and October 21 Meeting


Several independent projects are being organized to support the various interests of Forum participants in what we’ve been calling the “reality” phase of actual responsibility for managing the requirements of shareholder voting on executive compensation.


For those of you interested in the policy issues, a meeting will be jointly hosted by TIAA-CREF[*]  and the New York Chapter of the National Association of Corporate Directors (“NACD”) on Wednesday, October 21, 2009 from 10:00AM to 2:00PM in New York City. The objective stated by the hosts is “to conduct a rational, coherent, above-the-fray dialogue on the purpose, value, merits, challenges and mechanics of Say on Pay advisory votes.” The agenda and registration details should be available by the end of next week.


Addressing the practical needs of both investor and corporate decision-makers, the Forum is organizing special project workshops to develop resources that will benefit participants. Initial subjects include marketplace defined standards, investor surveys, and adaptive communication processes. Your interest in these projects – and suggestions of others – will be welcomed.


GL – September 17, 2009


Gary Lutin

Lutin & Company

575 Madison Avenue, 10th Floor

New York, New York 10022

Tel: 212-605-0335



[*] TIAA-CREF is represented on the Forum’s Program Panel for “Say on Pay.”





This Forum program is open, free of charge, to anyone concerned with investor interests relating to shareholder advisory voting on executive compensation, referred to by activists as "Say on Pay." As stated in the posted Conditions of Participation, the Forum's purpose is to provide decision-makers with access to information and a free exchange of views on the issues presented in the program's Forum Summary. Each participant is expected to make independent use of information obtained through the Forum, subject to the privacy rights of other participants.  It is a Forum rule that participants will not be identified or quoted without their explicit permission.

The organization of this Forum program was supported by Sibson Consulting to address issues relevant to broad public interests in marketplace practices, rather than investor decisions relating to only a single company. The Forum may therefore invite program support of several companies that can provide both expertise and examples of performance leadership relating to the issues being addressed.

Inquiries about this Forum program and requests to be included in its distribution list may be addressed to

The information provided to Forum participants is intended for their private reference, and permission has not been granted for the republishing of any copyrighted material. The material presented on this web site is the responsibility of Gary Lutin, as chairman of the Shareholder Forum.