The proxy-advisory firm reportedly recommended investors vote against BlackBerry’s executive-pay plan, and recommended that shareholders withhold votes for Prem Watsa’s role as chair of the compensation committee. (BNN Bloomberg)
The proxy-advisory firm reportedly recommended investors vote against BlackBerry’s executive-pay plan, and recommended that shareholders withhold votes for Prem Watsa’s role as chair of the compensation committee. (BNN Bloomberg)
The proxy-advisory firm reportedly recommended investors vote against BlackBerry’s executive-pay plan, and recommended that shareholders withhold votes for Prem Watsa’s role as chair of the compensation committee. (BNN Bloomberg)
Talking point: Glass Lewis’s report touches on the so-called meme-stock rally that lifted BlackBerry’s shares, alongside GameStop’s and AMC’s, over stretches of the last six months. The software company’s share-based compensation plan means that CEO John Chen could benefit from the boost, as well as Watsa, who controls Fairfax Financial, which owns about 15 per cent of BlackBerry on a fully diluted basis. The report suggested that Fairfax’s significant holdings could give Watsa “a set of priorities that does not align directly with those of other shareholders.” Glass Lewis’s concerns about BlackBerry’s pay plan goes back three fiscal years, Bloomberg reported.
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