Proxy Blog

Regions Financial Corporation 

March 24, 2020

The annual proxy for this bank holding company had the following proposals: 

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

Magni for proforma proposals: 

  • 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. 
  • Auditors  There appear to be no controversies with the financial statements of the company. 
  •  Say-on-pay” Advisory Vote – A shareholder engagement program is disclosed, and compensation is a discussion topic, though the level of activity is not disclosed. The peer group was listed with clear, yet high-level criteria. The benchmarking of the company against the peer group was very good and justified Magni voting for this proposal.