In general, ASML is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting.
Under ITEM 3a an advisory vote on the Company's executive remuneration report is requested. ECGS notes that the total variable salary granted in the year under review, corresponding to 394% of annual base salary, exceeds the maximum threshold under its guidelines. Accordingly, ECGS recommends to vote OPPOSE.
Under ITEM 5 it is proposed to designate the executive board as the body authorised to issue ordinary shares in connection with the LTI of the executive board. ECGS notes that the maximum grant under the LTI, corresponding to 220% of annual base salary, exceeds the threshold under its guidelines. ECGS therefore recommends to vote OPPOSE.
Finally, under ITEM 6, approval is sought of the Company's executive remuneration policy. Although ECGS has no concerns over the proposed amendments to the Company's executive remuneration policy, it does NOT approve of the maximum variable remuneration, corresponding to 340% of annual base salary (120% ST and 220% LT). Accordingly, ECGS recommends to vote OPPOSE.
ASML Holding provides lithography systems for the semiconductor industry, manufacturing machines that are used in the production of integrated circuits or chips. Co. develops, produces, markets, sells and services advanced semiconductor equipment systems exclusively consisting of lithography systems. Co. sells its products to micro-processor manufacturers and Foundries, NAND-Flash memory and DRAM memory chipmakers. Co.'s products line includes the following: PAS 5000 lithography systems, which Co. no longer manufactures but continues to refurbish; PAS 5500 products; TWINSCAN DUV systems and TWINSCAN EUV systems based on a new platform utilizing the concepts of the TWINSCAN platform.
Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.
Proxinvest main services are :
Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.
Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.
As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.