In other words, the long-term distribution of Coke shares will be extended and linked more closely to performance-related shares than to stock options. The shareholder dissent comes in the wake of slowing growth for Coke in the face of reduced soda consumption in the U.S. and other countries.
The Atlanta-based company, which reduced the annual compensation of its CEO by 16% last year, also indicated it would be more transparent about its stock and option awards going forward.