The Globe and Mail reports in its Tuesday edition that Anglo American is scrapping an executive bonus plan tied to its proposed acquisition of Teck Resources after news of the payouts raised the ire of shareholders. The Globe's Niall McGee writes that Anglo is changing course on the eve of shareholder votes at Anglo and Teck that will decide whether the deal will go ahead. Anglo in September announced plans to buy Teck for about $20-billion (U.S.) in an all-share deal. Anglo proposed changing the bonus performance criteria for chief executive officer Duncan Wanblad and other executive directors when it announced its "merger of equals." Under the revised plan, at least 62.5 per cent of share bonuses for 2024 and 2025 will vest if the Teck deal succeeds, regardless of executive performance. The original plan tied vesting to various factors, including stock performance and ESG metrics. Proxy adviser ISS advised shareholders to vote against the bonus plan amendment in the upcoming meeting. "Transaction-related remuneration is not considered good market practice in the U.K.," ISS wrote in a recent report. On Monday, Anglo nixed the compensation resolution from the meeting docket after shareholders expressed concerns.