File under Things That Will Never Happen: a "gadfly shareholder" has filed an update to Goldman Sachs's proxy statement proposing that Goldman never grant stock options to anyone.
Gadfly shareholder Evelyn Davis, who has railed against excessive executive compensation for decades, wants investors to bar Goldman Sachs Group Inc. (GS.N: Quote, Profile, Research) from ever again granting stock options to its executives.
Davis' proposal, included in an amended shareholder proxy filed with the Securities and Exchange Commission on Monday, urges Goldman shareholders to approve a proposal "so that no future new stock options are awarded to anyone." It also seeks to bar renewing or re-pricing current stock options, unless called for under an existing contract.
Another shareholder is suing over Goldman's stock options awards, alleging that the firm undervalued the options awards. Because, you know, Goldman is totally embarrassed that it pays its executives so much.
Gadfly asks Goldman investors to end stock options
Gadfly asks Goldman investors to end stock options [Reuters via DealBook]