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Jamie Dimon Dealt Rare Blow as JPMorgan Holders Reject Pay Plan

  • Bonuses for Dimon, Pinto were criticized by proxy advisers
  • Bank says board takes shareholder feedback ‘very seriously’
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WATCH: Dimon’s rare defeat.Source: Bloomberg
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Jamie Dimon was handed a rare defeat from shareholders as they rejected a pay proposal, just months after the board unfurled lucrative incentives for the JPMorgan Chase & Co. chief to stay on for a number of years.

The pay packages for Dimon and other company leaders were supported by just 31% of shareholders, a tally announced at the bank’s annual meeting on Tuesday. The preliminary result marks the first time since 2009 -- when JPMorgan began seeking investor votes on pay -- that a majority of shareholders declined to back the firm’s measures.