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Electronic Arts (NASDAQ:EA) reported results of its annual meeting, which included an uncommon outcome as shareholders overwhelmingly rejected the company’s executive compensation plan.

The advisory “say on pay” vote drew 170.89M votes against the company’s plan vs. just 59.6M votes for, EA says in a filing.

The vote is merely an advisory, but the overwhelming majority of such compensation votes pass. EA’s plan has drawn flak (including from proxy advisers) for a new special round of stock awards, when special awards for previous years haven’t yet vested.

According to its proxy documents, CEO Andrew Wilson was to draw $21.37M in total compensation for fiscal 2020 (vs. $18.3M in 2019), including $4M in new non-equity incentive compensation.

Chief Operating and Financial Officer Blake Jorgensen was set for $19.5M in 2020, vs. $9.41M in 2019; and Chief Studios Officer Laura Miele was set for $16.1M in 2020, vs. $6.95M in 2019.

Shareholders also voted in favor of the measure “consider and vote upon a stockholder proposal on whether to allow stockholders to act by written consent,” with 124.16M votes in favor and 110.27M against.

The shareholders also elected the board candidates (despite a swell of 70.8M no-votes on Jay C. Hoag, against 163.7M for) and ratified the company’s accountants.



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