{"id":33997,"date":"2021-04-21T10:35:34","date_gmt":"2021-04-21T08:35:34","guid":{"rendered":"https:\/\/www.eticasgr.com\/storie\/news-events\/italgas-spa-2021"},"modified":"2021-04-30T15:49:02","modified_gmt":"2021-04-30T13:49:02","slug":"italgas-spa-2021","status":"publish","type":"post","link":"https:\/\/www.eticasgr.com\/en\/storie\/vote-in-assembly\/italgas-spa-2021","title":{"rendered":"Italgas SpA | 2021"},"content":{"rendered":"

Etica Sgr\u2019s voting<\/strong><\/h2>\n

On the following items, Etica Sgr has made a vote that does not comply with management recommendations:<\/p>\n

3.1. Report on remuneration policy and amounts paid: approval of the remuneration policy under Art. 123-ter, paragraph 3-bis, of Law Decree n\u00b0 58\/1998<\/strong><\/h3>\n

Etica Sgr voted against, because not all the criteria set out in the Engagement Policy have been met.In particular, with reference to the severance agreement, it may exceed the maximum limit of acceptable monthly payments based on Etica Sgr\u2019s Engagement Policy, in the cases where the non-competition clause also comes into play. Furthermore, the presence of KPIs of an ESG kind, both in the short term and in the medium-long term variable component, is appreciated.<\/p>\n

3.2. Report on remuneration policy and amounts paid: resolutions on the \u201csecond section\u201d of the report, under Art. 123-ter, paragraph 6, of Law Decree n\u00b0 58\/1998<\/strong><\/h3>\n

Etica Sgr voted against, because not all the criteria set out in the Engagement Policy have been met. In particular, the appropriateness of providing more information about the severance agreement and compensation in the case of agreed termination of relations between company and directors was observed. Furthermore, the proxy advisor has identified opportunities to improve the connection between remuneration and company performance for identified peers.<\/p>\n

Other items on the Agenda<\/h3>\n

On the remaining items on the Agenda, Etica Sgr has expressed a vote in favour, since they are consistent with the Engagement Policy at Etica Sgr<\/a>.<\/p>\n

Agenda<\/strong><\/h2>\n
    \n
  1. Accept Financial Statements and Statutory reports
    \nFOR<\/u><\/b><\/li>\n
  2. Approve allocation of Income
    \nFOR<\/u><\/b><\/li>\n
  3. \n
      \n
    • 3.1 Approve Remuneration Policy
      \nAGAINST<\/u><\/b><\/li>\n
    • 3.2 Approve Second Section of the Remuneration Report
      \nAGAINST<\/u><\/b><\/li>\n<\/ul>\n<\/li>\n
    • Approve CO-Investment Plan
      \nFOR<\/u><\/b><\/li>\n<\/ol>\n

      Extraordinary Business<\/strong><\/h3>\n
        \n
      1. Authorize Board to Increase Capital to Service Co-Investment Plan
        \nFOR<\/u><\/b><\/li>\n
      2. Deliberations on Possible Legal Action Against Directors if Presented by Shareholders<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

        Etica Sgr\u2019s voting On the following items, Etica Sgr has made a vote that does not comply with management recommendations: 3.1. Report on remuneration policy and amounts paid: approval of the remuneration policy under Art. 123-ter, paragraph 3-bis, of Law Decree n\u00b0 58\/1998 Etica Sgr voted against, because not all the criteria set out in […]<\/p>\n","protected":false},"author":10,"featured_media":25437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[594],"tags":[598,24641,24640],"yst_prominent_words":[24596,24599,24597,24604,10271,24593,24623,24598,24622,24592,24603,24606,24621,24607,24591,24602,24605,24594,24600,24595],"class_list":["post-33997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-vote-in-assembly","tag-italian-companies","tag-shareholder-activism","tag-sicav","temi-engagement-en"],"_links":{"self":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/posts\/33997"}],"collection":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/comments?post=33997"}],"version-history":[{"count":3,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/posts\/33997\/revisions"}],"predecessor-version":[{"id":34003,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/posts\/33997\/revisions\/34003"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/media\/25437"}],"wp:attachment":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/media?parent=33997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/categories?post=33997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/tags?post=33997"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/yst_prominent_words?post=33997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}