Electronic Arts shareholders voted against the company's proposed executive compensation plan.
As reported by Seeking Alpha, an overwhelming majority voted against the plan in the "Say on Pay" vote, with 170.89 million votes shooting it down and 59.6 million giving it the thumbs up. Furthermore, they also elected to "consider and vote upon a stockholder proposal on whether to allow stockholders to act by written consent," although this outcome was closer with 124.16 million for and 110.27 million against.
However, it is worth noting that just because the shareholders have rejected the plan, that does not mean that it will not come to pass. But, it is rare for an executive compensation to receive such flak, never mind face rejection.
Last month, CtW Group claimed that the American publisher was paying its execs too much money. As such, the investment firm urged shareholders to vote against the proposed pay plan. To add on to that, the Institutional Shareholder Services (ISS) also asked investors to reject the proposal.
However, EA is not the only company to come under fire when it comes to pay. Earlier this year, CtW Group also claimed that Activision CEO Bobby Kotick had been "unnecessarily enriched" by the company.