Proxy Blog

Akamai Technologies, Inc.

May 6, 2019

The annual proxy for this software company had the following proposals: 

  1. Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote 
  2. Board proposals on amended stock incentive plan 

Magni voted as follows: 

  1. For and against the proforma proposals.
    For directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation of directors is disclosed with a meaningful portion in equity where the equity has restrictions to align director incentives with long-term value creation. 
    -For auditorsThere appear to be no controversies with the financial statements of the company.
    Against “say-on-pay” The proxy materials documented the shareholder engagement program, with compensation as one of the topics. The peer group was listed though the criteria is vague and subject to gerrymandering. 
  2. For the board proposal. Stock incentive plans are a good tool for aligning the management of a company with shareholder interests. The amendments to the existing plan are relatively minor and the changes are consistent with good governance.