The vote is “advisory” so hold the applause until we see how this moves forward:
Intel shareholders voted last week against the company’s compensation for its top executives, according to an regulatory filing published on Monday.
The vote is advisory, and won’t immediately affect the compensation of Intel’s executives, but sends a signal that some Intel investors are closely watching the performance of CEO Pat Gelsinger and the progress of his turnaround plan for the chip giant. Overall, shareholders representing about 34% of the shares voted for the package. Of those voting, shareholders representing about 920 million shares voted to approve, and those representing 1.77 billion voted against it.
The vote is the latest example of shareholders voting against executive compensation packages, which can include hundreds of millions of dollars in company stock.
I look at the charts, all with bearish crossovers: