Battling Over Board Member Bonuses; Bad Week for RBS

Receiving Wide Coverage ...

A Battle over Board Member Bonuses: A small bank holding compnay has set the stage for a battle over whether activist hedge funds should be allowed to pay preferred board members bonuses. More specifically, Institutional Shareholder Services (of "dethrone Jamie Dimon" fame) is calling on shareholders to vote out three Provident Financial Holdings directors after they unilaterally approved a bylaw barring investor-paid incentives. The vote is indicative of larger tensions that have...