Aug 21 2009
Safeguard Scientifics, Inc. (NYSE: SFE), a holding company that builds value in growth-stage life sciences and technology companies, announced that Risk Metrics Group (RMG), an advisor to institutional investors on corporate governance and risk management issues, issued recommendations to its institutional clients regarding proposals to be considered at Safeguard’s annual meeting of shareholders. The meeting will be held at 8 a.m. local time on Friday, August 28, at Dolce Valley Forge, King of Prussia, PA. At the meeting, shareholders will elect nine members of Safeguard’s board of directors; consider a proposal to amend Safeguard’s Equity Compensation Plan, including an increase in available shares; and consider a proposal to ratify appointment of KPMG LLP as Safeguard’s independent accounting firm for the 2009 fiscal year.
RMG issued its recommendations on August 14. RMG recommended a vote FOR the proposal to amend Safeguard’s Equity Compensation Plan.
Due to Safeguard’s policies of linking incentive compensation to achievement of long-term share price improvement and other performance milestones, RMG concluded that “(Safeguard) overall substantially appears committed to a pay-for-performance philosophy.” The RMG analysis also ranked Safeguard’s corporate governance policies ahead of 95.7% of companies in the Diversified Financials group.
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