HMA stockholders OK pay

NAPLES — More than 92% of shareholders of Health Management Associates voted to approve executive compensation at the company's annual meeting on May 22, according to a tally by the hospital operator.

Shareholders also re-elected the company's nine directors and approved Ernst & Young as auditors by 94% approval margins or greater, HMA says.

Activist shareholders and union groups recently announced their opposition to the company's executive compensation plan and some directors. For example, HMA President and CEO Gary Newsome earned total compensation of $7.1 million in 2011 and Chief Financial Officer Kelly Curry earned $3.4 million, according to the company's most recent proxy filing.

Despite some opposition, shareholders voted overwhelmingly to approve the company's compensation scheme and re-elected directors who approved it.

HMA operates 71 hospitals with about 10,600 beds in non-urban areas of the U.S. The company's stock is publicly traded (symbol: HMA; recent price: $6).