Apple Music Karaoke Mode Musk Briefly Not Richest COVID Variants Call of Duty and Nintendo 'Avatar 2' Director 19 Gizmo and Gadget Gifts Gifts $30 and Under Anker MagGo for iPhones
Want CNET to notify you of price drops and the latest stories?
No, thank you

HP board approves new executive pay policy

The motion for pay tied closer to performance was first brought up at the shareholder meeting in March.

Hewlett-Packard's board of directors agreed with shareholders Thursday, passing a new policy tying executive pay closer to performance.

The company disclosed the new program, in which stock issued to executives will vest based on whether individuals meet their performance goals over a three-year period, in an SEC filing Friday.

The issue was first brought up at the annual shareholders' meeting in March. The proposal surfaced in response to shareholders' unhappiness regarding the compensation given to ex-CEO Carly Fiorina after she was removed by the board.

HP has not revealed any specifics about how performance will be measured, but will reveal more details at the next shareholder meeting next year, according to the SEC filing.