Are you mad about the millions of dollars paid to executives of bailed-out banks? If you own shares, you can make your voice heard. As a shareholder, you have a right to vote on matters at your company’s annual meeting. If you have never voted your shares before, the U.S. Securities and Exchange Commission’s (SEC's) website explains how.

The federal government required that all financial institutions that received bailout funds submit their executive pay to a vote by shareholders. This “Say-on-Pay” vote is not binding and will not require executives to repay what they have already received, but it will allow you to send a message that business as usual is not acceptable.

Congress is now considering requiring all publicly traded companies to give their shareholders a Say-on-Pay. Other countries, such as the United Kingdom, Australia, the Netherlands, Norway and Sweden, already require shareholder votes on executive compensation.

Company Meeting Date Meeting Location    
  Citigroup April 20, 2010, 9 a.m. Hilton New York
1335 Avenue of the Americas
New York, N.Y.



Wells Fargo April 27, 2010, 1 p.m.
Julia Morgan Ballroom, 15th Floor
Merchants Exchange Building
465 California St.
San Francisco, Calif.



Bank of America April 28, 2010, 10 a.m.
Belk Theater, North Carolina Bluementhal
Performing Arts Center
130 North Tryon St.
Charlotte, N.C.



Goldman Sachs May 7, 2010, 9:30 a.m. 32 Old Slip
New York, N.Y.



Morgan Stanley May 18, 2010, 9 a.m. 2000 Westchester Ave.
Purchase, N.Y.



JPMorgan Chase May 19, 2010, 10 a.m. Chase Auditorium
One Chase Manhattan Plaza
New York, N.Y.


You can read more about how these big banks paid their top executives in the proxy statements issued for each annual meeting. Click on each bank’s name (above) to link to its filing at the SEC.

 

Watch AFL-CIO President Richard Trumka discuss the 2010 Executive PayWatch. This year's PayWatch spotlights Wall Street bankers and their outrageous pay and lobbying efforts against financial reform. More Videos


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