May 6 (Reuters) - Two major proxy advisory firms, Glass Lewis & Co and ISS, recommended that JPMorgan Chase & Co’s shareholders vote against the bank’s executive compensation plan.
JPMorgan’s shareholders are scheduled to vote on the bank’s executive pay in a non-binding motion at its annual meeting on May 19.
Glass Lewis said its analysis indicated that JPMorgan was “deficient in aligning pay with performance.”
ISS said the reintroduction of a large discretionary cash bonus in Chief Executive Jamie Dimon’s pay mix without a compelling rationale has weakened the performance-basis of his pay. (Reporting by Neha Dimri and Amrutha Gayathri in Bengaluru; Editing by Kirti Pandey)