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Barrett Business Services Inc. Message Board

  • doobanator doobanator Dec 14, 2011 11:05 AM Flag

    Sheretz amends proxy

    This points to her shopping the company.

    A shareholder group that includes Kimberly J. Jacobsen Sherertz, the estate of her late husband William Sherertz, and others commented today that in its opinion, the Change in Control Agreements of executive management at Barrett Business Services, Inc. (“BBSI”) need to be revised to conform with industry standards and best practices, for the mutual benefit of BBSI’s management, its board, and shareholders. In particular, industry norms need to be adhered to in terms of the cause of a change in control and the length of the “golden parachute,” which is currently three years in the agreements. The shareholder group believes change in control agreements are useful when they have value for management and shareholders. A reputable industry compensation consultant should advise BBSI regarding these agreements, and changes should be approved by BBSI shareholders. “Say on pay” by shareholders is an important method of ensuring alignment between a company and its shareholders. If these agreements are not modified in accordance with the shareholder group’s views and approved by shareholders, the group’s anticipated slate of directors, if elected, would plan to review the existing agreements and consider all of its alternatives with respect to them.

43.49+0.60(+1.40%)11:43 AMEDT