Almost a third of Capital Shopping Centre shareholders vote against executive pay It is the third year in a row that the company has suffered a rebellion in the remuneration vote, which is advisory and not binding. However, Wednesday's opposition was the most significant. A source close to the property group said the rebellion was over a "technical issue" because CSC issued its share awards as options rather than a long-term incentive plan. In its annual report, CSC claims it has made exceptional awards in the past three years because of a refinancing in 2009, its demerger from London property company Capital & Counties in 2010, and last year because a "normal option grant size" of 200pc of salary would have left the company in the bottom quartile for pay relative to its rivals. However, it has pledged to launch a "root and branch" review of pay this year and "has determined to make awards in 2012 in line with the normal scheme limit of 200pc." In a trading update alongside its AGM on Wednesday, CSC said the occupancy at its 14 UK shopping centres has fallen from 96.7pc to 94.3pc in the past three months after 75 units entered administration.