The shareholders have spoken: the $14.83 million in compensation Aflac Inc. Chairman and Chief Executive Officer Dan Amos received last year is OK by them.
Aflac announced the results of its say-on-pay vote at the company's annual shareholder meeting held at the Columbus Museum on Monday. About 93 percent of the votes approved the compensation packages of Aflac's top five executives. About 2.5 percent were against it.
"With only two-and-a-half percent voting no, I am pleased that we are in the confidence and trust of the overwhelming majority of our shareholders," Amos told the crowd of more than 200. "I want to assure you that our goal at Aflac has always been to be responsive to shareholders and to bring you value, and I thank you for your support."
This year's proxy invited shareholders to cast a say-on-pay advisory vote, which means the company would not necessarily be obligated to change executive pay package based on the vote.
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The nonbinding vote makes Aflac the first U.S. company to give shareholders this kind of input.
Read more of this story in Tuesday's Ledger-Enquirer.