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General Electric, AT&T Investors Reject CEO Pay Plans -- 3rd Update

By Thomas Gryta and Drew FitzGerald Shareholders at General Electric Co. and AT&T Inc. rejected the companies executive compensation plans in nonbinding votes, the latest blue-chip companies to be rebuked by investors over how they paid leaders during the pandemic. Nearly 58% of GE shares were voted against the board s compensation practices, according to an initial tally announced at the GE annual meeting Tuesday. Less than half of shares cast at AT&T s meeting last week supported the telecom and media giant s compensation plans, the company said Friday. Neither company has disclosed full tallies yet. The two widely held stocks add to a growing list of big U.S. companies that have failed to garner shareholder support for their executive compensation plans this year. Such advisory votes are nonbinding and rarely fail to win overwhelming shareholder support; but some institutional investors have used them this year to also voice their displeasure with Starbucks C

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