Associated Press, October 13, 2009 article

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October 13, 2009 Prudential Financial, Inc.: "Prudential Financial, Inc. Board of Directors Adopts Non-Binding “Say on Pay” Shareholder Vote"

Associated Press, October 13, 2009 article

Prudential board approves Say on Pay for holders

Life insurance seller Prudential gives shareholders Say on Pay vote on compensation

On 5:55 pm EDT, Tuesday October 13, 2009

NEWARK, N.J. (AP) -- Prudential Financial Inc. said Tuesday its board has approved giving shareholders an advisory vote on executive compensation, a so-called Say on Pay, that many companies have adopted in the face of criticism of soaring executive pay.

Shareholders of Newark, N.J.-based Prudential will get to vote every other year on the compensation policies set by the board committee that decides how to pay executives.

Prudential follows other companies that have approved similar Say on Pay voting power for shareholders. The Obama administration has proposed requiring it at all public companies.

Prudential sells life insurance and manages assets for investors, as well as other services.

Its shares rose 30 cents to $50.11 in aftermarket trading after closing Tuesday at $49.81, up 2 percent from the previous day's close.

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