Prisoner rights advocate Alex Friedman is pushing Corrections Corp. of America to report twice a year on the amount of sexual abuse at its facilities, but the company says his agenda is tainted and that it is doing enough now to protect prisoners.
Friedman, a former inmate who spent six years at CCA facilities and now is an editor of Prison Legal News, has submitted a proposal for the company’s annual shareholders’ meeting in May. His proposal calls for CCA to chronicle the number of rapes and sexual abuses as well as its response to those incidents. Friedman notes, among other things, that both Kentucky and Hawaii officials have in recent years removed female prisoners from a CCA prison in Kentucky and that bad publicity from similar events in the future could cost the company both in the market and in court.
In response, CCA is calling on shareholders to deny Friedman’s request and writes that it takes a zero-tolerance approach to sexual abuse at its facilities and that it has publicly supported regulations proposed by the Department of Justice.
It also points out that Friedman actively agitates against the private prison sector and says it reached out to him with a compromise offer to give him an annual report on its sexual abuse prevention programs. Friedman turned down that offer.
For more on Friedman’s proposal and CCA’s answer, click here and search for “Antioch.”
Over at Healthcare Realty Trust, directors apparently spent a good bit of time last year chatting with shareholders and proxy advisory firms. As a result, they adopted stock ownership guidelines that apply to them and to the real estate investment trust’s top executives.
“While the Company’s directors and Named Executive Officers already held a significant amount of stock, the Compensation Committee believes that having formal guidelines in place further aligns executive and shareholders’ interests,” the company wrote in its proxy.
Going forward, Chairman and CEO David Emery must own five times his annual salary — which will be almost $1.4 million this year — worth of shares. Other senior officers need to own three times their base pay and directors are required to own stock worth three times the value of their annual retainers. The deadline to meet those targets is April 2017.
Emery and CFO Scott Holmes are comfortably above their thresholds, but General Counsel John Bryant is barely above the 3x minimum, while fellow EVPs Doug Whitman and Todd Meredith have a ways to go by 2017. (Search here for “16.0x.”)
The company also has tweaked the contracts of its top officers to eliminate change-in-control and tax gross-up payments.
The compensation changes at Healthcare Realty come almost a year after the company clashed with proxy advisory firm ISS over the latter’s recommendation to vote down Emery’s pay package.
- ALEX B FRUIN INHERITANCE TRUST; CANDACE F STEFANSIC INHERITANCE TRUST; CANDANCE F STEFANSIC INHERITANCE TRUST; FRUIN, ALEX B TRUSTEE; FRUIN ALEX B INHERITANCE TRUST; STEFANSIC, CANDACE F TRUSTEE; STEFANSIC CANDACE F INHERITANCE TRUST; STEFANSIC CANDANCE F INHERITANCE TRUST
- ROSS, BRIDGETT D
- COOKE, ETHEN LANYARD TRUSTEE; COOKE, ETHEN LEWIS ESTATE
- JACOBS, JESSICA ALEXANDRA; JACOBS, ERIKA BESS