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SL Green shareholder proposal on CEO compensation fails to pass

SL Green Realty Corp. shareholders voted down a stockholder proposal calling on the company's board to consider the pay grades or salary ranges of all employees when setting target amounts for CEO compensation.

At the company's June 1 annual shareholder meeting, 3,306,716 votes were in favor of the proposal; 85,190,361 were against it; and 3,522,391 were abstentions.

Meanwhile, shareholders approved the proposal to amend the company's charter in order to declassify its board, with about 90.3% of the entitled votes cast in favor.