Company: VVR
Filing Date: 2025-02-07
Form Type: N-2/A
Source: 0001104659-25-010548
Chunk: 176

Company: Invesco Senior Income Trust
Filing Date: 2025-02-07
Form: N-2/A
Chunk 176
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 approval for salaries and bonuses in the following cases. ● Negative correlation between company’s financial performance and directors’ salaries and bonuses are observed. ● Inappropriate systems and practices are in place. ● The total amount of salaries and bonuses is not disclosed. ● Management failures, such as a significant share price decline or serious earnings deterioration, are apparent. ● The remuneration proposal includes people determined to be responsible for activities against shareholder interest. ● We generally vote for shareholder proposals requesting disclosure of individual directors’ salaries and bonuses. ● If a company implements any measures ensuring transparency other than disclosure, we take it into consideration. ● If there is no proposal seeking approval for directors’ salaries and bonuses, and the compensation structure lacks transparency, we consider voting against the appointment of top executives. ● We generally vote against bonuses for statutory auditors at a company with Board of Statutory Auditors and audit committee board members at a company with Audit Committee. ● We separately consider voting to audit committee board members at a company with three Committees. (2) Stock incentive plans ● We decide how to vote on proposals concerning stock incentive plans, including stock options and restricted stock units, taking into account the impact on shareholder value and rights, compensation levels, the scope, the rationales, and so on. ● We generally vote against proposals seeking to lower the strike price of stock options. ● We generally vote for proposals seeking to change the strike price on condition that shareholders’ approval is required every time. ● We generally vote against stock incentive plans if the terms and conditions for exercising options, including equity dilution, lack transparency. We generally consider voting against proposals potentially causing 10% or more equity dilution. ● It is desirable that stock incentive plans is a long-term incentive aligned with sustainable growth and corporate value expansion. As such, we generally vote against stock incentive plans allowing recipients to exercise all the rights within two years after vested for the subject fiscal year. However, B-29 this shall not apply to recipients who retire during the subject fiscal year. We assess the validity if a vesting period is regarded as too long. ● We generally vote against stock incentive plans granted to statutory auditors and audit committee board members at a company with Audit Committee. ● We separately consider stock incentive plans granted to audit committee board members, including both inside and outside directors, at a company with three Committees. ● We generally vote against stock incentive plans granted to any third parties other than employees. ● We generally vote against stock incentive plans in case a company is likely to adopt the plans as takeover defense.