According to a new filing with the Securities and Exchange Commission, more than 84 percent of Hospital Corporation of America shareholders approved the company's executive compensation plan.
The "say-on-pay" vote is a nonbinding measure, but publicly traded companies must hold the vote anyway. The approval further solidifies the pay for the top HCA executives. Last month, the Nashville, Tenn.-based hospital chain released specifics of the 2013 pay packages. Richard Bracken, chairman of Hospital Corporation of America in Nashville, Tenn., made more than $16.5 million in 2013, while Milton Johnson, HCA president and CEO, earned more than $7.7 million.
Earlier this month, HCA's compensation committee ratified the 2014 bonus program for the hospital's top executives. Quality-of-care measures only represented a small portion of the potential payouts.
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