Jun. 16 at 4:33 PM
$APT So shareholder votes once again reveal that J.R. is perceived as the least valuable director.
I’m actually surprised how few people are frustrated with Lloyd given the CEO is the most culpable for the corporate earnings and revenue stagnation.
The pay vote, however, was VERY revealing with ~35k shares short of 1/4 of votes AGAINST director pay, the ONE area where shareholders CAN directly affect change. Another 1,190,000 votes AGAINST their director pay and it would not have been able to be approved without change and another shareholder vote.
This signifies shareholders are actually getting more angry and expecting better results, and the first step toward resolving a problem is acknowledging there is one.
Step 1 hasn’t occurred publicly yet, but perhaps this vote is getting them to admit it internally. If not, I expect next year’s vote to be even worse.
