The ISS stance, published in a research note on Friday, comes after the iPhone maker had slashed Cook’s 2023 compensation target by more than 40% to $49 million. Cook’s salary will also depend more on how well the company’s shares perform relative to market peers, according to regulatory filings by the company.
The proxy advisory firm also recommended investors vote for proposals including a resolution demanding a report on median gender and racial pay gaps, and an amendment of proxy access right, both of which were opposed by the company’s management…
During last year’s annual meeting, Apple shareholders had voted down a proposal requesting that the company report on its gender and racial pay gaps, with 66.4% of votes cast against it.