Shareholders opposing the compensation won a say-on-pay vote at the company, and a majority also withheld votes from a director on the board’s compensation committee. Under Paycom’s governance guidelines, the director had to tender his resignation. The board’s nominating and corporate governance committee did not accept it, however, instead reaffirming his appointment, according to a company filing.“That’s highly unusual,” said Mr. Varner of CtW Investment.Asked whether Mr. Richison’s stock grant had fueled the shareholder discontent, Jason Clark, the chairman of Paycom’s compensation committee, said in statement: “This award is entirely dependent on …
