Morgan Stanley investors back bank directors, executive pay packages
11:37 am Thursday, May 20th, 2021
NEW YORK (Reuters) – Morgan Stanley shareholders voted overwhelmingly to elect all bank directors and approve the bank’s executive compensation packages, according to a preliminary tally of the shares cast at the firm’s annual meeting on Thursday.
Roughly 97% of shares were cast in support of the directors and 96% of shares were cast in support of the executive compensation plan.
Morgan Stanley’s Chief Executive James Gorman’s 2020 annual pay rose by $6 million, or 22%, from 2019. Gorman is receiving $33 million for his work in 2020, compared with $27 million the year before. Gorman’s pay had fallen by 7% in 2019.
(Reporting by Elizabeth Dilts Marshall)
