share_log

PayPal | PX14A6G: Notice of exempt solicitation

SEC announcement ·  Apr 17 06:10
Summary by Moomoo AI
PayPal Holdings, Inc. shareholder John Chevedden, who has held shares since 2016, has issued a voluntary alert urging fellow shareholders to vote for Proposal 6, which advocates for a shareholder say on director pay. Chevedden highlights the conflict of interest in the current system where the Board approves its own compensation without direct oversight from shareholders. He argues that the proposal would allow for a simple shareholder vote on director compensation packages, thereby rectifying this issue. The Board has opposed the proposal, providing three reasons for shareholders to reject it, which Chevedden rebuts. He contends that if the Board's compensation is reasonable and in line with market practices, it should easily gain shareholder approval. Chevedden also dismisses the Board's claim...Show More
PayPal Holdings, Inc. shareholder John Chevedden, who has held shares since 2016, has issued a voluntary alert urging fellow shareholders to vote for Proposal 6, which advocates for a shareholder say on director pay. Chevedden highlights the conflict of interest in the current system where the Board approves its own compensation without direct oversight from shareholders. He argues that the proposal would allow for a simple shareholder vote on director compensation packages, thereby rectifying this issue. The Board has opposed the proposal, providing three reasons for shareholders to reject it, which Chevedden rebuts. He contends that if the Board's compensation is reasonable and in line with market practices, it should easily gain shareholder approval. Chevedden also dismisses the Board's claim that PayPal already provides opportunities for stockholder input on director compensation, stating it does not address the conflict of interest. Lastly, he refutes the idea that the proposal would disadvantage PayPal, asserting that the company can maintain competitive pay for directors and that strong corporate governance would be enhanced by shareholder oversight. Chevedden encourages shareholders to vote in favor of the proposal to improve corporate governance.

This announcement is a separate document:

Doc 1

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more