James O. Bourdeau
First SEC filing: Dec. 4, 2017 · Latest: July 22, 2025
Insider at
Insider transactions
Price change vs the latest weekly close (updated to the current quote in your browser when available), split-adjusted for corporate actions since the filing — not benchmarked, not annualized, not size-weighted
| Date | Ticker | Code | Shares | Price | Value | Owned after | Δ own | A/D | vs now |
|---|---|---|---|---|---|---|---|---|---|
| May 12, 2026 | STZ | S | 4,407 | $143.24 | $631,259 | 9,109 Direct | -32.61% | Disposed | -3.2% (price as of ) |
| May 1, 2026 | STZ | M | 1,899 | · | · | 11,550 Direct | +19.68% | Acquired | |
| May 1, 2026 | STZ | M | 4,074 | · | · | 15,624 Direct | +35.27% | Acquired | |
| May 1, 2026 | STZ | F | 2,108 | $152.82 | $322,145 | 13,516 Direct | -13.49% | Disposed | -9.3% (price as of ) |
| May 1, 2026 | STZ | M | 1,899 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2026 | STZ | M | 628 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2026 | STZ | M | 1,139 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2026 | STZ | M | 688 | · | · | 688 Direct | -50.00% | Disposed | |
| May 1, 2026 | STZ | M | 1,619 | · | · | 3,237 Direct | -33.34% | Disposed | |
| April 7, 2026 | STZ | A | 1,899 | · | · | 1,899 Direct | · | Acquired | |
| July 21, 2025 | STZ | S | 821 | $169.00 | $138,749 | 9,438 Direct | -8.00% | Disposed | -17.9% (price as of ) |
| May 1, 2025 | STZ | M | 3,350 | · | · | 11,327 Direct | +42.00% | Acquired | |
| May 1, 2025 | STZ | F | 1,068 | $185.44 | $198,050 | 10,259 Direct | -9.43% | Disposed | -25.2% (price as of ) |
| May 1, 2025 | STZ | M | 895 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2025 | STZ | M | 628 | · | · | 628 Direct | -50.00% | Disposed | |
| May 1, 2025 | STZ | M | 1,139 | · | · | 1,139 Direct | -50.00% | Disposed | |
| May 1, 2025 | STZ | M | 688 | · | · | 1,376 Direct | -33.33% | Disposed | |
| April 25, 2025 | STZ | A | 4,856 | · | · | 4,856 Direct | · | Acquired | |
| May 1, 2024 | STZ | M | 1,031 | · | · | 6,576 Direct | +18.59% | Acquired | |
| May 1, 2024 | STZ | M | 3,226 | · | · | 9,802 Direct | +49.06% | Acquired | |
| May 1, 2024 | STZ | F | 1,929 | $253.95 | $489,870 | 7,873 Direct | -19.68% | Disposed | -45.4% (price as of ) |
| May 1, 2024 | STZ | M | 1,031 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2024 | STZ | M | 563 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2024 | STZ | M | 896 | · | · | 895 Direct | -50.03% | Disposed | |
| May 1, 2024 | STZ | M | 628 | · | · | 1,256 Direct | -33.33% | Disposed | |
| May 1, 2024 | STZ | M | 1,139 | · | · | 2,278 Direct | -33.33% | Disposed | |
| April 25, 2024 | STZ | A | 2,064 | · | · | 2,064 Direct | · | Acquired | |
| April 25, 2024 | STZ | A | 4,321 | · | · | 4,321 Direct | · | Acquired | |
| April 9, 2024 | STZ | A | 1,031 | · | · | 1,031 Direct | · | Acquired | |
| Aug. 3, 2023 | STZ | C | 30,723 | · | · | 36,233 Direct | +557.59% | Acquired | |
| Aug. 3, 2023 | STZ | S | 30,723 | $269.00 | $8,264,487 | 5,500 Direct | -84.82% | Disposed | -48.4% (price as of ) |
| Aug. 3, 2023 | STZ | M | 4,554 | · | · | 0 Direct | -100.00% | Disposed | |
| Aug. 3, 2023 | STZ | M | 4,487 | · | · | 0 Direct | -100.00% | Disposed | |
| Aug. 3, 2023 | STZ | M | 9,037 | · | · | 0 Direct | -100.00% | Disposed | |
| Aug. 3, 2023 | STZ | M | 12,645 | · | · | 0 Direct | -100.00% | Disposed | |
| Aug. 3, 2023 | STZ | M | 4,554 | $156.84 | $714,249 | 4,554 Direct | · | Acquired | |
| Aug. 3, 2023 | STZ | M | 4,487 | $172.09 | $772,168 | 4,487 Direct | · | Acquired | |
| Aug. 3, 2023 | STZ | M | 9,037 | $228.26 | $2,062,786 | 9,037 Direct | · | Acquired | |
| Aug. 3, 2023 | STZ | M | 12,645 | $207.48 | $2,623,585 | 12,645 Direct | · | Acquired | |
| Aug. 3, 2023 | STZ | C | 30,723 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2023 | STZ | M | 1,512 | · | · | 4,758 Direct | +46.58% | Acquired | |
| May 1, 2023 | STZ | M | 2,450 | · | · | 7,208 Direct | +51.49% | Acquired | |
| May 1, 2023 | STZ | F | 1,754 | $230.23 | $403,823 | 5,454 Direct | -24.33% | Disposed | -39.8% (price as of ) |
| May 1, 2023 | STZ | M | 1,512 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2023 | STZ | M | 361 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2023 | STZ | M | 564 | · | · | 563 Direct | -50.04% | Disposed | |
| May 1, 2023 | STZ | M | 896 | · | · | 1,791 Direct | -33.35% | Disposed | |
| May 1, 2023 | STZ | M | 629 | · | · | 1,884 Direct | -25.03% | Disposed | |
| April 24, 2023 | STZ | A | 3,417 | · | · | 3,417 Direct | · | Acquired | |
| April 24, 2023 | STZ | A | 7,778 | · | · | 7,778 Direct | · | Acquired | |
| April 4, 2023 | STZ | A | 1,512 | · | · | 1,512 Direct | · | Acquired | |
| May 1, 2022 | STZ | M | 919 | · | · | 2,547 Direct | +56.45% | Acquired | |
| May 1, 2022 | STZ | M | 2,116 | · | · | 4,663 Direct | +83.08% | Acquired | |
| May 1, 2022 | STZ | F | 1,510 | $246.09 | $371,596 | 3,153 Direct | -32.38% | Disposed | -43.6% (price as of ) |
| May 1, 2022 | STZ | M | 919 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2022 | STZ | M | 295 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2022 | STZ | M | 361 | · | · | 361 Direct | -50.00% | Disposed | |
| May 1, 2022 | STZ | M | 564 | · | · | 1,127 Direct | -33.35% | Disposed | |
| May 1, 2022 | STZ | M | 896 | · | · | 2,687 Direct | -25.01% | Disposed | |
| April 22, 2022 | STZ | C | 9,160 | · | · | 14,488 Direct | +171.92% | Acquired | |
| April 22, 2022 | STZ | S | 4,580 | $253.70 | $1,161,946 | 9,908 Direct | -31.61% | Disposed | -45.3% (price as of ) |
| April 22, 2022 | STZ | S | 8,280 | $254.55 | $2,107,674 | 1,628 Direct | -83.57% | Disposed | -45.5% (price as of ) |
| April 22, 2022 | STZ | M | 3,250 | · | · | 0 Direct | -100.00% | Disposed | |
| April 22, 2022 | STZ | M | 5,910 | · | · | 0 Direct | -100.00% | Disposed | |
| April 22, 2022 | STZ | M | 9,160 | · | · | 9,160 Direct | · | Acquired | |
| April 22, 2022 | STZ | C | 9,160 | · | · | 0 Direct | -100.00% | Disposed | |
| April 21, 2022 | STZ | A | 2,513 | · | · | 2,513 Direct | · | Acquired | |
| April 21, 2022 | STZ | A | 16,966 | · | · | 16,966 Direct | · | Acquired | |
| April 5, 2022 | STZ | A | 919 | · | · | 919 Direct | · | Acquired | |
| May 1, 2021 | STZ | M | 437 | · | · | 4,613 Direct | +10.46% | Acquired | |
| May 1, 2021 | STZ | M | 1,354 | · | · | 5,967 Direct | +29.35% | Acquired | |
| May 1, 2021 | STZ | F | 738 | $240.32 | $177,356 | 5,229 Direct | -12.37% | Disposed | -42.3% (price as of ) |
| May 1, 2021 | STZ | M | 437 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2021 | STZ | M | 132 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2021 | STZ | M | 296 | · | · | 295 Direct | -50.08% | Disposed | |
| May 1, 2021 | STZ | M | 362 | · | · | 722 Direct | -33.39% | Disposed | |
| May 1, 2021 | STZ | M | 564 | · | · | 1,691 Direct | -25.01% | Disposed | |
| April 20, 2021 | STZ | A | 3,583 | · | · | 3,583 Direct | · | Acquired | |
| April 20, 2021 | STZ | A | 11,593 | · | · | 11,593 Direct | · | Acquired | |
| April 7, 2021 | STZ | A | 437 | · | · | 437 Direct | · | Acquired | |
| May 1, 2020 | STZ | M | 502 | · | · | 3,556 Direct | +16.44% | Acquired | |
| May 1, 2020 | STZ | M | 931 | · | · | 4,487 Direct | +26.18% | Acquired | |
| May 1, 2020 | STZ | F | 452 | $161.57 | $73,030 | 4,035 Direct | -10.07% | Disposed | -14.2% (price as of ) |
| May 1, 2020 | STZ | M | 502 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2020 | STZ | M | 141 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2020 | STZ | M | 132 | · | · | 132 Direct | -50.00% | Disposed | |
| May 1, 2020 | STZ | M | 296 | · | · | 591 Direct | -33.37% | Disposed | |
| May 1, 2020 | STZ | M | 362 | · | · | 1,084 Direct | -25.03% | Disposed | |
| April 21, 2020 | STZ | A | 22,170 | · | · | 22,170 Direct | · | Acquired | |
| April 21, 2020 | STZ | A | 2,255 | · | · | 2,255 Direct | · | Acquired | |
| April 2, 2020 | STZ | A | 502 | · | · | 502 Direct | · | Acquired | |
| May 1, 2019 | STZ | M | 755 | · | · | 2,992 Direct | +33.75% | Acquired | |
| May 1, 2019 | STZ | M | 209 | · | · | 3,201 Direct | +6.99% | Acquired | |
| May 1, 2019 | STZ | F | 313 | $212.09 | $66,384 | 2,888 Direct | -9.78% | Disposed | -34.6% (price as of ) |
| May 1, 2019 | STZ | M | 209 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2019 | STZ | M | 185 | · | · | 0 Direct | -100.00% | Disposed | |
| May 1, 2019 | STZ | M | 141 | · | · | 141 Direct | -50.00% | Disposed | |
| May 1, 2019 | STZ | M | 133 | · | · | 264 Direct | -33.50% | Disposed | |
| May 1, 2019 | STZ | M | 296 | · | · | 887 Direct | -25.02% | Disposed | |
| April 23, 2019 | STZ | A | 12,645 | · | · | 12,645 Direct | · | Acquired |
Loaded 100 of 114 rows
P = Open-market purchase · S = Sale · A = Grant/award · M = Option exercise · G = Gift · F = Tax withholding
Insider transactions are not a recommendation; sales are often driven by liquidity or tax reasons.
Derivative holdings (Form 4 Table II) Options, RSUs and convertible securities reported on Form 4 Table II.
| Date | Ticker | Security | Underlying | Exercise price | Expiration | Shares | A/D |
|---|---|---|---|---|---|---|---|
| May 1, 2026 | STZ | Performance Share Units | Class A Common Stock | · | · | 1,899 | Disposed |
| May 1, 2026 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 628 | Disposed |
| May 1, 2026 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 1,139 | Disposed |
| May 1, 2026 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 688 | Disposed |
| May 1, 2026 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 1,619 | Disposed |
| April 7, 2026 | STZ | Performance Share Units | Class A Common Stock | · | · | 1,899 | Acquired |
| May 1, 2025 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 895 | Disposed |
| May 1, 2025 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 628 | Disposed |
| May 1, 2025 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 1,139 | Disposed |
| May 1, 2025 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 688 | Disposed |
| April 25, 2025 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 4,856 | Acquired |
| May 1, 2024 | STZ | Performance Share Units | Class A Common Stock | · | · | 1,031 | Disposed |
| May 1, 2024 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 563 | Disposed |
| May 1, 2024 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 896 | Disposed |
| May 1, 2024 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 628 | Disposed |
| May 1, 2024 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 1,139 | Disposed |
| April 25, 2024 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 2,064 | Acquired |
| April 25, 2024 | STZ | Non-Qualified Stock Option (right to buy) | Class 1 (convertible) Common Stock | $261.71 | April 25, 2034 | 4,321 | Acquired |
| April 9, 2024 | STZ | Performance Share Units | Class A Common Stock | · | · | 1,031 | Acquired |
| Aug. 3, 2023 | STZ | Non-Qualified Stock Option (right to buy) | Class 1 (convertible) Common Stock | $156.84 | April 25, 2026 | 4,554 | Disposed |
| Aug. 3, 2023 | STZ | Non-Qualified Stock Option (right to buy) | Class 1 (convertible) Common Stock | $172.09 | April 21, 2027 | 4,487 | Disposed |
| Aug. 3, 2023 | STZ | Non-Qualified Stock Option (right to buy) | Class 1 (convertible) Common Stock | $228.26 | April 23, 2028 | 9,037 | Disposed |
| Aug. 3, 2023 | STZ | Non-Qualified Stock Option (right to buy) | Class 1 (convertible) Common Stock | $207.48 | April 23, 2029 | 12,645 | Disposed |
| Aug. 3, 2023 | STZ | Class 1 (convertible) Common Stock | Class A Common Stock | · | · | 4,554 | Acquired |
| Aug. 3, 2023 | STZ | Class 1 (convertible) Common Stock | Class A Common Stock | · | · | 4,487 | Acquired |
| Aug. 3, 2023 | STZ | Class 1 (convertible) Common Stock | Class A Common Stock | · | · | 9,037 | Acquired |
| Aug. 3, 2023 | STZ | Class 1 (convertible) Common Stock | Class A Common Stock | · | · | 12,645 | Acquired |
| Aug. 3, 2023 | STZ | Class 1 (convertible) Common Stock | Class A Common Stock | · | · | 30,723 | Disposed |
| May 1, 2023 | STZ | Performance Share Units | Class A Common Stock | · | · | 1,512 | Disposed |
| May 1, 2023 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 361 | Disposed |
| May 1, 2023 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 564 | Disposed |
| May 1, 2023 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 896 | Disposed |
| May 1, 2023 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 629 | Disposed |
| April 24, 2023 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 3,417 | Acquired |
| April 24, 2023 | STZ | Non-Qualified Stock Option (right to buy) | Class 1 (convertible) Common Stock | $224.38 | April 24, 2033 | 7,778 | Acquired |
| April 4, 2023 | STZ | Performance Share Units | Class A Common Stock | · | · | 1,512 | Acquired |
| May 1, 2022 | STZ | Performance Share Units | Class A Common Stock | · | · | 919 | Disposed |
| May 1, 2022 | STZ | Restricted Stock Units | Class A Common Stock | · | May 1, 2022 | 295 | Disposed |
| May 1, 2022 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 361 | Disposed |
| May 1, 2022 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 564 | Disposed |
| May 1, 2022 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 896 | Disposed |
| April 22, 2022 | STZ | Non-Qualified Stock Option (right to buy) | Class 1 (convertible) Common Stock | $87.16 | Sept. 30, 2024 | 3,250 | Disposed |
| April 22, 2022 | STZ | Non-Qualified Stock Option (right to buy) | Class 1 (convertible) Common Stock | $117.12 | April 28, 2025 | 5,910 | Disposed |
| April 22, 2022 | STZ | Class 1 (convertible) Common Stock | Class A Common Stock | · | · | 9,160 | Acquired |
| April 22, 2022 | STZ | Class 1 (convertible) Common Stock | Class A Common Stock | · | · | 9,160 | Disposed |
| April 21, 2022 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 2,513 | Acquired |
| April 21, 2022 | STZ | Non-Qualified Stock Option (right to buy) | Class 1 (convertible) Common Stock | $254.21 | April 21, 2032 | 16,966 | Acquired |
| April 5, 2022 | STZ | Performance Share Units | Class A Common Stock | · | · | 919 | Acquired |
| May 1, 2021 | STZ | Performance Share Units | Class A Common Stock | · | · | 437 | Disposed |
| May 1, 2021 | STZ | Restricted Stock Units | Class A Common Stock | · | May 1, 2021 | 132 | Disposed |
| May 1, 2021 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 296 | Disposed |
| May 1, 2021 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 362 | Disposed |
| May 1, 2021 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 564 | Disposed |
| April 20, 2021 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 3,583 | Acquired |
| April 20, 2021 | STZ | Non-Qualified Stock Option (right to buy) | Class 1 (convertible) Common Stock | $238.31 | April 20, 2031 | 11,593 | Acquired |
| April 7, 2021 | STZ | Performance Share Units | Class A Common Stock | · | · | 437 | Acquired |
| May 1, 2020 | STZ | Performance Share Units | Class A Common Stock | · | · | 502 | Disposed |
| May 1, 2020 | STZ | Restricted Stock Units | Class A Common Stock | · | May 1, 2020 | 141 | Disposed |
| May 1, 2020 | STZ | Restricted Stock Units | Class A Common Stock | · | May 1, 2021 | 132 | Disposed |
| May 1, 2020 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 296 | Disposed |
| May 1, 2020 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 362 | Disposed |
| April 21, 2020 | STZ | Non-Qualified Stock Option (right to buy) | Class 1 (convertible) Common Stock | $153.02 | April 21, 2030 | 22,170 | Acquired |
| April 21, 2020 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 2,255 | Acquired |
| April 2, 2020 | STZ | Performance Share Units | Class A Common Stock | · | · | 502 | Acquired |
| May 1, 2019 | STZ | Performance Share Units | Class A Common Stock | · | · | 209 | Disposed |
| May 1, 2019 | STZ | Restricted Stock Units | Class A Common Stock | · | May 1, 2019 | 185 | Disposed |
| May 1, 2019 | STZ | Restricted Stock Units | Class A Common Stock | · | May 1, 2020 | 141 | Disposed |
| May 1, 2019 | STZ | Restricted Stock Units | Class A Common Stock | · | May 1, 2021 | 133 | Disposed |
| May 1, 2019 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 296 | Disposed |
| April 23, 2019 | STZ | Non-Qualified Stock Option (right to buy) | Class 1 Common Stock | $207.48 | April 23, 2029 | 12,645 | Acquired |
| April 23, 2019 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 1,446 | Acquired |
| April 2, 2019 | STZ | Performance Share Units | Class A Common Stock | · | · | 209 | Acquired |
| May 1, 2018 | STZ | Performance Share Units | Class A Common Stock | · | · | 1,480 | Disposed |
| April 23, 2018 | STZ | Non-Qualified Stock Option (right to buy) | Class 1 Common Stock | $228.26 | April 23, 2028 | 9,037 | Acquired |
| April 23, 2018 | STZ | Restricted Stock Units | Class A Common Stock | · | · | 1,183 | Acquired |
| March 27, 2018 | STZ | Performance Share Units | Class A Common Stock | · | · | 1,480 | Acquired |
| Feb. 20, 2018 | STZ | Restricted Stock Units | Class A Common Stock | · | May 1, 2018 | 247 | Disposed |
| Feb. 20, 2018 | STZ | Restricted Stock Units | Class A Common Stock | · | May 1, 2019 | 185 | Disposed |
| Feb. 20, 2018 | STZ | Restricted Stock Units | Class A Common Stock | · | May 1, 2020 | 141 | Disposed |
| Feb. 20, 2018 | STZ | Restricted Stock Units | Class A Common Stock | · | May 1, 2021 | 133 | Disposed |
Exercise/conversion price is blank when not applicable (e.g. RSUs).
Initial ownership (Form 3) 9 holdings
Securities held when first becoming an insider, per SEC Form 3.
| Date | Ticker | Security | Shares | Ownership |
|---|---|---|---|---|
| Dec. 4, 2017 | STZ | Class A Common Stock | 623 | Direct |
| Dec. 4, 2017 | STZ | Non-Qualified Stock Option (right to buy) | 3,250 | Direct |
| Dec. 4, 2017 | STZ | Non-Qualified Stock Option (right to buy) | 5,910 | Direct |
| Dec. 4, 2017 | STZ | Non-Qualified Stock Option (right to buy) | 4,554 | Direct |
| Dec. 4, 2017 | STZ | Non-Qualified Stock Option (right to buy) | 4,487 | Direct |
| Dec. 4, 2017 | STZ | Restricted Stock Units | 247 | Direct |
| Dec. 4, 2017 | STZ | Restricted Stock Units | 370 | Direct |
| Dec. 4, 2017 | STZ | Restricted Stock Units | 423 | Direct |
| Dec. 4, 2017 | STZ | Restricted Stock Units | 530 | Direct |
Compensation (DEF 14A)
Matched by name from proxy statements (DEF 14A) — verify against the filing.
| Fiscal year | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension change | Other | Total |
|---|---|---|---|---|---|---|---|---|
| 2026 | $746,577 | · | $1,846,009 | · | $322,402 | · | $115,644 | $3,030,632 |
| 2025 | $719,231 | $15,000 | $1,548,982 | $360,112 | $411,654 | · | $103,894 | $3,158,873 |
Figures from the Summary Compensation Table of the company's proxy statement (DEF 14A). Compensation is not a recommendation.