Executive compensation plans should be designed to be aligned with shareholders' best interest. Allowing shareholders to have a say-on-pay enhances their rights and promotes corporate accountability and transparency of its pay structure. It also serves as a signal of overall level of shareholder support and of any substantial changes to that support, allowing boards of directors to respond in a timely, effective fashion to shareholders’ concerns.
In 2019, AIMCo co-filed three shareholder proposal requesting that three Canadian companies adopt an annual advisory vote on executive compensation. Two out of the three companies committed to adopting say-on-pay. One proposal went ahead to a vote at the Company's 2019 AGM.