Dodd-Frank getting the results! Not many results as ink was spilled and money was spent soliciting a non-binding vote ignored by management, but those are still results.
At its 2011 Annual Meeting of Shareholders, the shareholders of Cogent Communications Group, Inc. did not approve the executive compensation. Did Cogent learn its lesson?
At its 2013 Annual Meeting of Shareholders, the shareholders of Cogent Communications Group, Inc. did not approve the executive compensation. Will Cogent learn its lesson?
In each of 2011 and 2012:
- Base salary for the CEO, CFO, Chief Revenue Officer, Chief Legal Officer and highest paid VP increased;
- Total compensation decreased from 2010 to 2011 but skyrocketed in 2012 over and above 2011 levels. In the case of the CEO, total comp went from about $4.0 million in 2010 to $8.8 million in 2012.
I guess we’ll see next year if this is what the shareholders had in mind.
Form 8-K – 2011 Annual Meeting Results
Form 8-K – 2013 Annual Meeting Results
Proxy Statement – 2013 Annual Meeting