The insurer Aflac has become the first U.S. company to give shareholders a say on pay - a vote on top management's compensation. And in their first advisory vote Monday, they signaled that the compensation committee was doing a fine job.

Slightly more than 93 percent of shareholders approved of the $11.96 million compensation package that Daniel Amos, Aflac's chief executive for the last 18 years, received last year. Only 2.5 percent voted against.

"As he makes more money, I make more money," said George Nader, a shareholder in West Point, Georgia, who has been accumulating Aflac shares for more than 30 years. "The dividend keeps increasing and the shares have done well. The man at the top is thinking of the shareholders, and he deserves to be compensated for that."

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