Agenda – Investors Turning Up Heat on Political Spending

Companies heavily ramped up disclosures on political spending policies and oversight in 2021 as investors received massive support on shareholder proposals on the subject, according to an analysis of proxy voting trends. This year, boards should expect that pressure to rise even higher. With the midterm elections looming, boards need to ensure that directors have…

Agenda – Investors Share Plans for Next Proxy Season’s ESG Blitz

After a rousing engagement season this fall, investors and other governance observers are anticipating robust support for environmental, social and governance issues at next year’s annual meetings. Shareholders are focusing more keenly on environmental and social issues in engagement sessions than ever before, according to Agenda’s most recent reader survey. As investors zero in on…

SEC Resets the Shareholder Proposal Process

Sanford Lewis of the Shareholder Rights Group, has an excellent article on the SEC’s new guidance broadening the scope of (advisory) shareholder proposals, with a detailed history to provide context. His conclusion: Ultimately, the ability of a shareholder proposal to produce beneficial change at a corporation is grounded in a fundamental test—whether shareholders vote in…

Shareholders Press Facebook for Governance Changes – WSJ

Facebook is facing more calls from shareholders to address harm on its platforms and overall governance as the company, now known as Meta Platforms Inc., FB -1.98% responds to pressure from lawmakers and others. Shareholders, including the New York State Common Retirement Fund and Illinois State Treasurer, are among an investor group that collectively filed…

SEC Rescinds Trump-era Policy, Eases Path for Shareholder Proposals on Environmental, Social Issues – WSJ

The Securities and Exchange Commission reversed a Trump-era policy and acted Wednesday to streamline the process for shareholders to propose resolutions on environmental or social issues during the coming proxy season. The SEC rescinded guidance that since 2017 helped company managers to exclude some shareholder proposals from their annual proxy statements. The change reflects the…

Tesla’s Growing Investor Revolt | Morningstar

Tesla (TSLA) shares have skyrocketed by more than 1,400% over the past three years, but that doesn’t mean its shareholders are entirely happy with the company’s management. There’s a growing shareholder revolt around Tesla’s handling of employees, diversity, and its board of directors that played out at its most recent company meeting. If it weren’t…

CII Files Amicus Brief in Shareholder Proposal Rule Challenge

CII has filed a “friend of the court” brief in the challenge filed by Jim McRitchie and As You Sow to the SEC rule restricting shareholder proposals that was published in a flawed, rushed rulemaking in the last weeks of the Trump administration. Some highlights from the brief: In its haste to adopt these rule…

Fox faces vote on lobbying proposal | Corporate Secretary

The SEC has given the green light for shareholders in Fox Corporation to vote this fall on a proposal regarding the company’s lobbying activities. The proposal, filed by Kenneth Steiner on behalf of John Chevedden, requests that Fox prepare an annual report disclosing: Company policy and procedures governing direct and indirect lobbying and ‘grassroots lobbying…

Agenda – Investors To Back Off Say-on-Climate Proposals

What Agenda calls backing off may just be a shift in response to the forthcoming SEC rulemaking on climate disclosure. Last year CIFF, along with several supporting partners including CDP, the nonprofit formerly known as the Carbon Disclosure Project, and ESG charity ShareAction, began a new, three-pronged initiative to push companies in the U.S. and…