Proxy Blog

PerkinElmer, Inc. 

April 1, 2020

The annual proxy for this manufacturer of diagnostic and testing equipment had the following proposals: 

  • Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote 

Magni for and against 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 auditors  There appear to be no controversies with the financial statements of the company. 
  • Against “Say-on-pay” Advisory Vote – There was no mention of a shareholder engagement program. The criteria for the peer group was high level, while there was no benchmarking of the company to the peer group.