Wednesday, May 11, 2011

Impax Labs shareholders vote for yearly 'say on pay'

Shareholders at generic drug business Impax Laboratories Inc. voted in favor of an annual “say on pay” where the salaries of top executives would be subject to their approval.
The proposal, however, is not binding. Impax said in its proxy card that “our board and the compensation committee will consider the outcome of the vote when making future compensation decision for named executive officers.”

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