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EBay stockholders approve share increase, narrowly reject proposal on gender pay

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EBay stockholders approve share increase, narrowly reject proposal on gender pay

Stockholders of eBay Inc. allowed the company to increase authorizedshares issuance, but narrowly rejected a shareholder proposal regarding genderpay equity.

At the annual meeting on April 27, stockholders approved thecompany's amendment and restatement of 2008 Plan, which includes an amendmentallowing the company to increase the total number of its shares authorized forissuance by 50,000,000 shares.

Meanwhile, the shareholder proposal on gender pay equityreceived 417,093,396 votes in favor and 397,086,399 votes against, while therewere 120,530,190 abstentions and 65,691,918 broker non-votes.

EBay's CEO Devin Wenig had earlier said that the companyopposed the proposalforwarded by Arjuna Capital, a unit of investment firm Baldwin Brothers Inc.,regarding the matter, and added that the company would address on its own terms.

Respondingto the close result, Wenig said, "While the proposal did not pass, itgarnered significant support. The views of our shareholders, many of whom arealso our employees, are important to me."

He added that eBay has begun a process to conduct a globalanalysis, which considers salary, bonus and stock, of gender pay equity, andexpects to complete the internal review by October 2016.