SANTA CLARA, Calif. (Reuters) - Yahoo Inc. shareholders protested a more than $200 million compensation package for Chairman Terry Semel, withholding up to 18 percent of votes for three compensation committee members at Thursday's annual meeting.

The six other candidates for the board, including Semel, received at least 96 percent support in the vote by shareholders of the Web and media company.

All nine candidates were elected.

Shareholder Anthony Mezzapelle objected to Semel's 2004 compensation during the meeting. "I looked at your real peers and none of them came close," he said during the question and answer period.

Compensation committee chair Robert Kotick responded that Yahoo's market value had risen by $40 billion over the four years of Semel's tenure. Most of Semel's compensation last year was from stock options, which Kotick said were key to the company's ability to attract and retain executives.

Yahoo competes for talent with Web companies including Google Inc. (Research) and eBay Inc. (Research)

Kotick, who is currently the co-chairman and chief executive of Activision Inc. (Research), was rejected by 16.7 percent of votes cast. Shareholders can vote for a candidate or withhold their votes in a gesture of opposition.

Compensation committee member Gary Wilson received 16.8 percent withhold vote and committee member Arthur Kern 18.4 percent.

The other six board candidates included Semel, Yahoo co-founder Jerry Yang, Roy Bostock, Ronald Burkle, Eric Hippeau and Edward Kozel.

Shares of Yahoo (Research) edged higher in after-hours trading after closing up 2.23 percent Thursday at $36.75 on Nasdaq.

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