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Microsoft prohibited from paying employees with stock instead of options

Time: 10:39 EST/15:39 GMT | News Source: E-Mail | Posted By: Byron Hinson

The California Public Employees' Retirement System, the biggest U.S. pension fund, said it voted against a Microsoft Corp. proposal that would let the company pay workers with stock instead of options. The fund also opposed the makeup of the board's audit committee. Calpers withheld votes for directors on Microsoft's three-member audit committee because the company authorized its auditor, Deloitte & Touche LLP, to perform other services, spokesman Brad Pacheco said.

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