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Vote of the Week: Alexandria Real Estate Equities

Vote of the Week: Alexandria Real Estate EquitiesZoom inDownload PDF

In our “Vote of the Week,” we discuss Alexandria Real Estate Equities, which received 8.7% vote support in 2013 (the lowest we have seen) after receiving a 80% vote in 2012 (year-over-year decrease of ~71%) and 63% in 2011. This reduction in support is likely due to above-market CEO pay levels during a period of sustained low performance, a 2013 equity grant to the CEO above prior levels following a large special award in 2012 associated with renegotiating his contract, and structural changes that have not addressed underlying concerns with the pay design.