Northrop Grumman (NYSE:NOC) shareholders may get a say on executive compensation after the SEC denied the company's request to block the proposal from this years proxy shortlist. The proposal was first submitted by the Service Employees International Union, who reasoned that shareholders need ways to provide input to corporate boards regarding executive pay packages. Northrop sought to exclude the SEIU proposal from its proxy, saying that they believed it would be confusing and misleading for shareholders. However, the SEC disagreed and the measure will now be up for vote. The so-called "say on pay" policy would give shareholders an "advisory-only" vote on executive compensation packages, which could end up influencing the Board of Directors - who are hired to act on behalf of shareholders. Many are hoping that this decision paves the way for similar proposals in other companies where executive compensation can get out of hand.