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IStar shareholders reject executive compensation proposal

IStar Inc. said a proposal to approve, on an advisory and nonbinding basis, the diversified real estate investment trust's named executive officer compensation plan failed to pass at the May 16 annual shareholder meeting.

Of the votes cast at the meeting, 17,959,119 were in favor of the proposal, while 27,225,429 were against it, according to a May 18 filing.