April 2 (Reuters) - Institutional Shareholder Services

has recommended Pfizer ( PFE ) investors reject a proposal on

executive compensation due to changes made in the long-term

awards for CEO Albert Bourla and other top executives.

The proxy adviser said on Wednesday that the changes added

about $1 million in additional value for CEO.

The modification "significantly undermines the at-risk

nature of the awards and a pay-for-performance philosophy," the

firm said.

Pfizer ( PFE ) did not immediately respond to a request for comment.

The company's shareholders are expected to vote on the

proposal at the annual meeting scheduled for April 24.