Weyerhaeuser Co. (NYSE:WY) disclosed changes to its executive compensation plan and announced the results of its annual shareholder meeting. The timber and real estate investment trust has a market cap of $16.7 billion and trades at $23.24.
On May 14, the company amended its 2023 Deferred Compensation Plan. Under the revised plan, designated employees may defer 10% to 50% of base salary and 10% to 100% of cash incentive awards. The amendment removes the annual premium previously credited to stock equivalent deferrals.
At the annual meeting on May 15, 661,779,414 shares were represented. Shareholders voted on three proposals: election of directors, executive compensation, and auditor ratification.
The next annual meeting is scheduled for May 14, 2027.
