NiSource stockholders will vote on getting more of say

NiSource stockholders are considering key proposals to give them an advisory voice on executive compensation as well as a proposal allowing them to take action by written consent rather than at an annual or special meeting.

Both proposals are contained in this year's proxy statement, with stockholders able to vote by proxy or in person at the NiSource annual meeting May 10.

That meeting will take place at 10 a.m., at The Hilton Rosemont Chicago O'Hare, 5550 N. River Road, Rosemont, Ill.

The first proposal involves two votes. One is an advisory up or down vote on current executive compensation for top executives and the second will set a schedule for voting in future years. Stockholders have a choice on whether they want to take the advisory vote on compensation ever year, every two years, or every three years. Whichever course a plurality chooses will become the company's policy and practice.

Both votes are required under new U.S. Securities and Exchange Commission regulations.

On the written consent proposal from a shareholder rights group, NiSource is expressing its opposition, stating it would cause confusion and enable a group of shareholders controlling a simple majority of the vote to take significant actions outside of annual or special meetings. That would include electing new directors or agreeing to sell the company.

In advocating for the change, the national shareholder right's group maintains that the measure would improve corporate governance and financial performance at NiSource. It also points out the proposal has already won support at 13 major companies in 2010.

NiSource has 32,313 shareholders, with 10,016 of those residing in Indiana and Illinois, according to company figures.