"The Tribe Has Spoken," the dour Survivor host Jeff Probst said as he snuffed out Vikram Pandit's $15 million pay package.  Yes, they have - at Tuesday's bank annual meeting in Dallas - where a majority of investors voted against a proposal on executive compensation, that included Mr. Pandit’s pay package. Citigroup executives, having employed the (devious?) strategy of holding the meeting far afield from the hostile environs of New York City, perhaps anticipated they would avoid the usual protesters.  Well, as it pertains to the issue of Wall Street pay, the strategy didn't seem to work.  These shareholders who attended the meeting or submitted proxy votes actually care about their investments, and hope to see during their lifetime a balancing of Wall Street firm profits and compensation. Last year, Mr. Pandit’s compensation included a $1.67 million salary and a $5.3 million cash bonus.  He also received a retention package valued at $40 million.  In 2009 with the bank on the edge of failure, Mr. Pandit only accepted a $1 salary. But even as Citi’s earnings have improved, the bank continues to struggle to make up for lackluster revenues.  And then there was the enormous blow dealt to Citi in in March by the Federal Reserve, which issued a failing grade on the bank stress test and, in turn, rejected Citi's proposal to return capital to shareholders.  A revised plan may be submitted later this year. Non-Binding Vote. One saving grace for Citigroup is that the Board of Directors are not bound by the vote - i.e., Citi doesn’t have to act on the vote.  Still, it speaks to shareholders’ issues, and only 45% of shareholders supported the plan. "Citi’s board of directors takes the shareholder vote seriously, and along with senior management will consult with representative shareholders to understand their concerns," said a spokesperson.  After that, Citigroup will change its compensation plan or not - which will indicate whether the bank's directors and executives care a whit for shareholders' opinion.   [Dealbook, 4/17/12]