Aflac Inc. shareholders will get a say earlier than expected on how much the top five company executives should be paid.
The resolution to give stockholders a nonbinding vote on executive compensation will go into effect in 2008.
In February, Aflac's board of directors had announced the resolution effective 2009. That year is the first year executive compensation tables in the proxy statement would contain three years of data reflecting the Securities and Exchange Commission's new compensation disclosure rules.
The board decided two years of compensation data would be enough for shareholders to make an informed decision, so they moved the date to 2008.
Never miss a local story.
Aflac was the first U.S. company to adopt a resolution giving stockholders this kind of input.