BARCLAYS PLC
London Stock Exchange: BARC                                         Meeting Date: 4/24/2014

Barclays is the first major UK bank to hold its AGM following the implementation of EU directive CRD IV, which sets limits on the maximum ratio between variable and fixed pay. The rules will have a disproportionate impact on UK banks when compared to their continental peers, where fixed pay generally comprises a significant proportion of the overall pay opportunity; in contrast, fixed pay for Barclays’ CEO represented less than 17% of the total pay opportunity in 2013. In common with its UK peers, Barclays has attempted to increase fixed pay without totally undermining alignment with performance by seeking shareholder approval to increase the cap on variable pay to a 2:1, rather than 1:1, ratio, and through the introduction of a fixed share allowance that is not subject to performance or clawback but must be held for up to five years. New regulations are not the only headache for the remuneration committee, which has drawn fire for increasing year-on-year incentive pools despite declining profits; the decision, which followed several years of reduced payouts and marked a departure from the company’s stated intention of bringing compensation costs down, was described by CEO Antony Jenkins as a “one-off” intended to prevent a “death spiral” following record resignations in its investment banking division. In addition, while the bank has avoided any new scandals on the scale of LIBOR, the board (and Mr. Jenkins in particular) will likely field tough questions regarding a £5.8 billion rights issue that came after shareholders were told that capital levels were sufficient to meet regulatory requirements.

 

CITIGROUP INC. (see Proxy Season Insider here)
NYSE: C                                                         Meeting Date 4/22/2014

THE COCA-COLA COMPANY (see Proxy Season Insider here)
NYSE: KO                                                       Meeting Date 4/23/2014

PEUGEOT
NYSE Euronext Paris: UG                   Meeting Date 4/24/2014

HEINEKEN N.V. (see Proxy Season Insider here)
NYSE Euronext Amsterdam:  HEIA                   Meeting Date 4/24/2014

JOHNSON & JOHNSON (see Proxy Season Insider here)
NYSE:  JNJ                                                         Meeting Date 4/24/2014

WELLS FARGO & CO.
NYSE:  WFC                                                       Meeting Date 4/29/2014

DOMINO’S PIZZA, INC. (see Proxy Season Insider here)
NYSE:  DPZ                                                         Meeting Date 4/29/2014

WOODSIDE PETROLEUM LIMITED
Australian Stock Exchange:  WPL                              Meeting Date 4/30/2014

BARRICK GOLD
Toronto Stock Exchange:  ABX                               Meeting Date 4/30/2014

DUKE ENERGY CORP.
NYSE:  DUK                                                       Meeting Date 5/01/2014