Acting consulting firm calls on Apple shareholders to vote for Cook and other executive compensation plans

According to news in the morning of February 20, Beijing time, acting consulting firm Institutional Shareholder Services (ISS) reportedly urged Apple investors to vote for its board candidates and executive pay, including CEO Tim Cook (Tim Cook).

Apple will hold its annual shareholders' meeting on March 10.

ISS made the comments in a research paper on Friday, just after the iPhone maker cut Mr Cook's pay target for 2023 by more than 40 per cent to $49 million. Cook's salary will also depend more on Apple's market performance relative to its peers, according to regulatory filings filed by the company.

"it is necessary to continuously monitor the compensation plan to ensure that the scale of compensation is supported by the company's continued strong performance." ISS said in the research newspaper.

The agency also advised shareholders to vote for a number of proposals, including a resolution requiring Apple to report the median gender and racial pay gap, as well as a proxy amendment. Both proposals were opposed by Apple's management.

ISS said the proposal for a median report on gender and ethnic pay disparities was supported because investors could compare and measure companies' progress in diversification and inclusiveness, as well as their control over associated risks.

The proxy amendment will strengthen the company's current shareholder rights and ensure that the nomination process is guaranteed.

Corporate governance experts say that traditionally, if a shareholder proposal is supported by more than 25 per cent of the vote, the board is urged to make a change.

At last year's annual meeting, Apple shareholders voted against a proposal to require the company to report gender and racial pay disparities, with 66.4 per cent of shareholders voting against the proposal.