Proxy advisor recommends voting against Halliburton’s pay plan – company

By Liz Hampton

(Reuters) – A high proxy advisor advisable Halliburton’s shareholders ought to vote towards its govt compensation plan, the oilfield companies supplier stated on Monday in a submitting.

Institutional Shareholder Providers (ISS) criticized the corporate’s compensation committee members for failing to deal with issues over long-term incentive pay, in keeping with a regulatory submitting.

The advisory agency additionally took difficulty with what it noticed as an almost 20% improve in Chief Govt Jeff Miller’s long-term incentive worth in 2021, the submitting stated.

Halliburton known as ISS’s evaluation “deceptive” and stated its “efficiency had excelled to the advantage of Halliburton’s shareholders,” pointing to its restrained spending, debt discount and rising dividend, in keeping with the submitting.

The vote is on an advisory movement and the consequence isn’t binding on the corporate.

Shares of Halliburton on Monday traded at $33.36, down 10.7% on the day however up roughly 46% year-to-date.

Final 12 months, Halliburton’s shareholders voted towards the oilfield companies group’s proposed govt compensation plan in an advisory movement.

ISS didn’t instantly reply to a request for remark.

(Reporting by Liz Hampton in Denver; modifying by Richard Pullin)