Administration October 12, 2004

Socially Responsible Investor Firm Publishes 2004 Proxy Guidelines

December 22, 2003 (PLANSPONSOR.com) - Citizens Advisers, Inc., a Portsmouth, New Hampshire socially responsible investment management firm, released its latest annual proxy voting guidelines developed by the firm's Proxy Voting Committee.
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According to a news release, the 2004 guidelines include:

  • setting the golden parachute payout limit to 2.99% of the average salary in the previous three-year period
  • establishing stock option plans that allow vesting of less than two years as a signal to vote against the plan
  • voting against management proposals where potential dilution from all stock option plans is greater than 10%.

The committee members include one representative each from the firm’s legal, social research, investment operations and investment management departments.

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