Shareholders in Simon Property Group Inc., the country’s largest mall owner, rejected an eight-year compensation package awarded to the real estate investment trust’s chief executive, which included an annual base salary of $1.25 million and stock awards valued at $132 million over the eight-year term.

The compensation deal was struck in July between Simon’s compensation committee and David Simon, who has served since 1995 as chief executive of the family-founded business that owns about 300 malls and outlet centers.

Read the article at The Wall Street Journal.