Approach - In advance of voting no on management pay via the Annual Report/Meeting shareholder ballot, group members should write supporting letters to Celgene Directors informing them of their decision to vote no on pay and its rationale.
Letter Content – At a minimum, we suggest Director letters include:
- Your name, contact information, number of shares owned and length of ownership
- The specific intent – to vote no
- The specific objective - To amend current Board directed executive pay criteria to include a significant portion of compensation (base pay, bonus and stock awards) to be tied directly to increased shareholder value as expressed by PPS growth (at least 25%)
- The intent to withhold your vote for Directors who do not support this initiative
For maximum impact, letters should be written between early March (roughly one month in advance of the 1st quarter earning announcement) and no later than the returning of your proxy vote – Late may/early June.
PLEASE NOTE: We encourage any of you who are so inclined to:
1. Reach out to other individual shareholders to join this effort – Please feel free to reference them to this website for more information.
2. Contact institutional investors urging them to join this effort. This can be easily done in one r two ways.
o Cc-ing selected institutions on your Director letters and adding a hand written note.
o Contacting the institutions via tailored letter or e-mail appealing directly to them and possibly following up with a phone call.
For those wishing to do so, please refer to the separate link containing Celgene’s Institutional Investor contact information