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Cedar Realty shareholders approve say-on-pay proposal

Cedar Realty TrustInc. shareholders voted to approve the company's nonbinding executivecompensation proposalat an annual meeting held May 3, according to a filing.

In response to Institutional Shareholder Services' recommendationagainst its say-on-pay proposal, Cedar Realty said earlier it would revise its executiveemployment agreements to provide that the company will pay cash severance only whenan executive is terminated without "cause" or has resigned for "goodreason" after a change in control.

The independent proxy adviser had questioned certain provisionsin the company's employment agreements that allow an executive who voluntarily terminateshis or her employment after a change in control to receive cash severance awards.