Powered by

PS Business Parks rebuts ISS recommendation against executive pay program

Apr 15, 2016 - SNL Real Estate Daily
Board and Executive Moves

PS Business Parks Inc. has issued a letter refuting Institutional Shareholder Services' recommendation against the company's proposal to approve its executive compensation program.

The independent proxy adviser's statement relating PS Business Parks' net income and revenue declines to CEO pay increases in 2014 and 2015 is "neither prudent nor appropriate" in that those reductions were the result of asset sales and a smaller property base, the company said in an April 14 letter to sharehold...