Aflac, Inc. (NYSE:AFL) became the first company to offer shareholders a non-binding vote on executive compensation packages. The move came in response to a 2006 shareholder proposal aimed at increasing corporation transparency and accountability. "Our shareholders, as owners of the company, have the right to know how executive compensation works", commented the company's CEO. "The board's action is in keeping with Aflac's longstanding pay-for-performance compensation policy and our commitment to transparency at all levels."

The company created an offer last week that will give shareholders the ability to cast their votes on the company's 2009 proxy. While the shareholder vote on pay packages serves only as an advisory vote as of now, it creates an important venue for shareholders to communicate on the issue of executive compensation. And with over forty companies are facing shareholder resolutions on executive pay this 2007 proxy season, this may become a new trend to help satisfy the increasing concerns over compensation packages.