Salesforce Shareholders Vote Against Pay Plans for CEO Marc Benioff, Other Execs [Video]

Salesforce (CRM) shareholders last week voted against compensation plans for executives including Chief Executive Officer (CEO) Marc Benioff, a Monday night Securities and Exchange Commission (SEC) filing revealed.

The compensation plans were rejected, with 404.8 million votes against and 339.3 million votes in favor, according to the filing. Shareholders voted in favor of a number of other proposals including adjustments to the company’s employee equity incentive plan, along with the re-election of board members.

The Salesforce board had recommended that shareholders vote in favor of the pay packages in its proxy statement, and noted that while the advisory vote on executive pay was nonbinding, the company’s compensation committee “values the opinions expressed by our stockholders and will consider the outcome of this vote when making future executive compensation decisions.”

Benioff earned $39.6 million in total compensation for fiscal 2024, a more than 32% year-over-year jump. This included a pair of equity awards, with …