At its upcoming shareholders meeting, Annaly Capital Management is asking its investors to approve a measure that outsources its management to a company owned by Annaly's current executives. To address any concern that the structure would create a misalignment of shareholder and management interests, Annaly has proposed requiring that its five most senior executive officers own an amount of stock equal to at least 6 times their 2012 base salary, which represents an aggregate ownership of $38.7 million.
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This article was originally published as Annaly Capital: There's More to Its Management Proposal Than Meets the Eyeon Fool.com
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