The board of State Street Corp. wants a majority vote to suffice when it proposes certain corporate actions — such as amending its articles of organization, authorizing voluntary dissolution, and acting on a merger or share exchange.
The company currently requires an affirmative vote from two-thirds of the outstanding shares.
Shareholders will vote on the proposal at the May 16 annual meeting.
State Street additionally disclosed a 2017 CEO pay ratio of 236 to 1. It paid Chairman and CEO Joseph Hooley $19.5 million in total compensation that year. The median annual total compensation of all other employees was $82,760.
State Street is the $238.43 billion-asset holding company of Boston-based State Street Bank and Trust Co. and State Street Global Advisors Inc.
