An overwhelming majority of Vanguard Health Systems shareholders have approved the 2012 executive compensation packages for the Nashville, Tenn.-based company's executives, according to a recent filing with the U.S. Securities and Exchange Commission.
Charles Martin Jr., CEO of Vanguard, will earn $7.94 million, which includes roughly $2.08 million in incentives. Vanguard CFO Phillip Roe will make $2.36 million, while President and COO Kent Wallace's compensation package will total $2.75 million.
Nearly 64.5 million stockholders ratified the pay packages, while 309,015 voted against the measure. The votes represent the "say-on-pay" provision of the Dodd-Frank act. However, the votes are nonbinding and cannot officially change the payouts for a company's top executives.
Charles Martin Jr., CEO of Vanguard, will earn $7.94 million, which includes roughly $2.08 million in incentives. Vanguard CFO Phillip Roe will make $2.36 million, while President and COO Kent Wallace's compensation package will total $2.75 million.
Nearly 64.5 million stockholders ratified the pay packages, while 309,015 voted against the measure. The votes represent the "say-on-pay" provision of the Dodd-Frank act. However, the votes are nonbinding and cannot officially change the payouts for a company's top executives.
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