Delta shareholders give nod on executive pay

Delta Air Lines shareholders voted overwhelmingly in favor of company executives’ pay, the company announced Thursday following its annual shareholder meeting.

More than 99 percent of votes were cast in favor of Delta’s executive compensation package, according to the Atlanta-based airline. A law has required non-binding “say on pay” advisory votes on executive compensation at publicly-traded companies for the past two years.

Shareholders also approved the re-election of Delta’s board of directors, but voted against a shareholder proposal from the Teamsters union calling for senior executives to retain a significant percentage of shares from equity compensation programs until they leave the company or reach retirement age. Delta’s board of directors was against the measure, which gained about 18 percent of votes in favor.