Tesla investors will have fewer opportunities to express discontent with management at the company’s annual meeting, which is taking place Tuesday in Austin, Texas, because of what some shareholders said was a deliberate attempt by the automaker to suppress dissent. In October, Tesla moved up the meeting from August to May and gave shareholders two…
Category: shareholder proposals
Shareholder Proposal: Report on Information Provided to Support Anti-Abortion Laws
A post-Dobbs decision shareholder proposal at Laboratory Corporation of America from Tara Health Foundation, calling on the company to report on known risks of fulfilling information requests and mitigation strategies for providing information connected to enforcement of anti-abortion laws and the company’s response: Proposal Seven: Request for a Board Report on Known Risks of Fulfilling…
‘Anti-ESG proposals’ up 60 percent this year, despite low support in 2022
Last year, anti-ESG proposals attracted support of less than 4 percent on average, according to the Proxy Preview report, published last week. Many were also excluded through the US Securities and Exchange Commission’s “no action” process, the mechanism by which companies seek assurance from the regulator that it will not act if they do not…
2023 Proxy Season Preview – Compromise and Conflict Ahead
Merel Spierings of The Conference Board, has an excellent preview of this year’s proxy season. An excerpt [footnotes omitted]. The 2023 proxy season is bound to be even more challenging than previous years for the following reasons:The overall volume of shareholder proposals will likely continue to rise as a result of: 1) the SEC having…
Petition: Demand that State Treasurers and public pensions vote for climate justice and Indigenous rights this spring
This April and May, investors in Wall Street banks and insurance companies will vote on at least four shareholder proposals related to climate justice and Indigenous rights. A resolution calling for a time-bound phase-out of financing for companies engaged in fossil fuel expansion. A resolution demanding that big banks report on how they respect internationally-recognized…
Shareholder Activism Increase — On Both Sides
Shareholder activism is on the rise, according to a new analysis released this morning by The Conference Board (and shared in advance with CEO Daily.) The volume of shareholder proposals is expected to increase in 2023, in part because new rules from the SEC narrow the grounds for excluding such proposals, and also because more…
Shareholder Commons on Proxy Season 2023: Teeing Up Guardrails
Shareholder Commons on what they are working on for this year’s proxy season? See below (emphasis added). We’ve filed shareholder proposals at Hormel Foods (annual meeting date January 31), Tyson Foods (February 9), and McDonald’s (TBD) asking those companies to comply with World Health Organization (“WHO”) Guidelines on Use of Medically Important Antimicrobials in Food-Producing…
As Markets Fall, Governance Rises in Importance | Morningstar
“Only when the tide goes out do you discover who’s been swimming naked.” Warren Buffett’s famous analogy highlights how a downturn in the strength of the markets or the economy, reveals previously-hidden risks and weaknesses for companies and investors. Although many investors have recently given most of their attention to the “E” and “S” parts…
Anti-ESG Shareholder Proposal at Microsoft
Prepare for even more Trojan horse shareholder proposals from “anti-woke” sources. Microsoft, like other household name companies, attracts a lot of shareholder proposals, and this year’s include inclusive hiring of formerly incarcerated candidates, and reports “assessing how the Company’s 401(k) retirement funds manage the growing systemic risk to the economy created by investing retirement plan…
ISS: Support for U.S. Shareholder Proposals on Climate in 2022
Without data on how many proposals were withdrawn following successful negotiations, it is hard to evaluate these conclusions. Despite a steady decrease in the portion of environmental and social proposals receiving less than majority support from 2017 through 2021, 2022 bucked the trend likely due to some institutional investors viewing them as overly prescriptive as…
ValueEdge Advisors 