Pay Governance LLC is an independent firm that serves as a trusted advisor on executive compensation matters.
Our work helps to ensure that our clients' executive rewards programs are strongly aligned with performance and
supportive of appropriate corporate governance practices.
Maggie Choi is a Consultant in the San Francisco/Silicon Valley office of Pay Governance. She has over 10 years of consulting experience and has deep expertise directing a variety of projects, including: executive and outside director compensation assessments, short- and long-term incentive plan design, shareholder value transfer/dilution analyses, pay-for-performance and internal equity modeling, and severance/change-in-control liability calculations. Additionally, Maggie consults on a variety of corporate governance issues and is actively involved in tracking regulatory developments and analyzing the voting practices of key proxy advisors. Maggie’s clients include U.S. and global public, private, and pre-IPO companies across the retail, high-technology, and financial services industries.
Prior to joining Pay Governance, Maggie worked in the Executive Compensation & Total Rewards practice at Willis Towers Watson for two and a half years. Prior to that, Maggie was a consultant in the Transfer Pricing and Valuations department at PricewaterhouseCoopers LLC for two years.
Maggie graduated from the University of California, Berkeley with a B.A. in Economics and also completed extensive coursework in the areas of Finance, Organizational Behavior, and Strategic Planning and Implementation.
Companies have migrated a significant portion of equity compensation to performance-based long-term incentive (LTI) awards—typically performance shares or stock units (PSUs)—from stock options. Over 80% of companies in the S&P 500 now have such plans; these also now comprise the majority weighting among LTI vehicles. This trend has been driven in, large part, by the desire of Compensation Committees to place at least one-half equity compensation in the form of “performance-based” pay as defined by the proxy advisory firms. Continue reading →
On August 4, 2015, Institutional Shareholder Services (ISS) released its annual policy survey for the 2016 proxy voting season. The survey encompasses its global proxy voting policies across all potential topic areas. Continue reading →
Many large U.S. based multinational banking and financial services corporations have implemented executive compensation clawback policies that require the cancellation and forfeiture of unvested deferred cash awards or performance share unit awards. These policies typically condition the cancellation of deferred compensation if it is determined that an executive engaged in misconduct, including failure to supervise or monitor individuals engaging in inappropriate behaviors that caused harm to the organization’s operations. Continue reading →
In this edition of Viewpoint, Pay Governance will discuss the proposed rules and the next steps companies should consider regarding pay for performance disclosure rules. The SEC intends that the pay for performance comparison will supplement the CEO pay ratio in providing shareholders with information to better assess executive pay for purposes of the shareholder advisory Say on Pay vote. Continue reading →
Introduction The intense spotlight on executive pay centers on the relationship between pay and performance for CEOs. Legacy pay-setting practices and proxy advisory firm models have largely relied upon comparisons of pay derived from disclosure in the Summary Compensation Table … Continue reading →
A new Equilar report featuring commentary from Pay Governance and Donnelley Financial Solutions analyzes the compensation discussion and analysis (CD&A) section of S&P 100 proxy statements over the last five years. With the average CD&A reaching nearly 10,000 words, the report revealed key strategies in how companies design and communicate pay practices by using alternative pay graphs, checklists and other visualizations that help draw investors to the most important information.
To be redirected to Equilar and download a copy of this important report, click here.
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October 4, 2016
Pay Governance Adds New West Coast Partner
Matt Quarles has joined the firm as a Partner. In this role, Quarles is responsible for working with clients across industries on a wide range of executive compensation issues. He will be based in Los Angeles and has nearly 20 years experience in the executive compensation consulting industry.
Pay Energy®, a new proprietary assessment tool developed by Pay Governance
Pay Energy®, a new proprietary assessment tool developed by Pay Governance LLC, helps companies consider the “drive, discipline and speed” inherent in current programs and in alternative designs that may be evaluated.
“The fundamental philosophy of executive compensation is to ‘attract, retain and motivate’ a talented management team. So it’s concerning when you hear incentive awards are just put in desk drawers until plans mature,” said Pay Governance managing partner John England.