On Tuesday, Norway's $ 872 billion sovereign wealth fund said it would vote in favor of
shareholder proposals at Exxon and Chevron Corp. that would require the companies to report more fully about the risks their businesses could face from tougher carbon policies and extreme climate impacts.
InsideClimate News reviewed 25 years» worth of
shareholder proposals at the three largest U.S. oil companies — ExxonMobil, Chevron and ConocoPhillips — to see how they responded to investor concerns about climate change.
Mr. DiNapoli also announced the pension fund had withdrawn
shareholder proposals at three energy companies due to their climate - change disclosure policies.
InsideClimate News reviewed 25 years» worth of
shareholder proposals at the three largest U.S. oil companies — ExxonMobil, Chevron and ConocoPhillips — to see how they responded to investor concerns about climate change.
ISS tracked 1,042
shareholder proposals at public corporations during the 2003 proxy season, which gives us total corporate expenditures on shareholder proposals of $ 90,654,000.
Since 2006 (the first year in the ProxyMonitor.org database), the three most frequent sponsors of
shareholder proposals at Fortune 250 companies have been corporate gadflies: John Chevedden (including, in earlier years, his family trust and now - deceased father, Ray); William Steiner (and son, Kenneth); and Evelyn Davis.
Our clients are investors in these various companies and as investors, they have a voice and they have a right to file
a shareholder proposal at the companies.
Both ISS and Glass Lewis have recommended in favor of
the shareholder proposal at Wells.
CalSTRS and Relational Investors discuss
their shareholder proposal at Timken Company requesting the company split the steel and bearings businesses into separate public companies.
We believe the living wage reflects those costs,» said a speaker from Vancity Investment Management Ltd., which submitted
the shareholder proposal at Loblaw's annual general meeting of shareholders Thursday.
Not exact matches
CalPERS, the California Public Employees» Retirement System, which voted in favor of the climate change
proposal at Exxon's
shareholder's meeting Wednesday, also released a statement.
Exxon Mobil (xom) has stepped up efforts to persuade investors to vote against climate - related
proposals at Wednesday's annual meeting with a campaign of calling, writing and lobbying
shareholders in person.
That
proposal goes to a vote of
shareholders at the company's annual meeting for other
shareholders to weigh in on.
Late last week, the AFL - CIO's office of investment filed a
shareholder proposal with Goldman Sachs — and they plan to file a similar
proposal at JPMorgan this week, according to Heather Slavkin Corzo, who runs the AFL - CIO's office of investment.
Last month, Dimon prevailed
at the bank's annual meeting when only 32 percent of
shareholders voted in favor of a
proposal — backed by activist groups after the «London Whale» trading losses — to strip him of the chairmanship.
The Wells Fargo vote will be the first
proposal on proxy access to come before
shareholders this year, according to Ted Allen, governance counsel
at proxy advisor Institutional
Shareholder Services (ISS), and it will be worth watching how it plays out.
Shareholders at several banks will vote on
proposals that would allow them to determine the details behind the bonus plans.
Shareholders at the two tech giants have introduced «one share, one vote»
proposals this proxy season.
The cleverly crafted offer is designed to get the revised merger
proposal (RMP) in front of the WPL
shareholders to force a vote (extraordinary general meeting will be held
at the end of April).
We note that, in accordance with Rule 14 (a)-6 (a), Apple was not required to file preliminary proxy materials with the Commission because the matters to be acted on
at the meeting are limited to (1) the election of directors, (2) the ratification of accountants, (3) a vote on an advisory resolution to approve executive compensation, (4) the approval of the Plan described above, which is a «plan» as defined in paragraph (a)(6)(ii) of Item 402 of Regulation S - K, and (5)
shareholder proposals pursuant to Rule 14a - 8.
To vote on the
shareholder proposals set forth in the proxy statement, if properly presented
at the Annual Meeting; and
Shareholder proposals and director nominations must be delivered to Apple's Secretary by mail
at 1 Infinite Loop, MS: 301 - 4GC, Cupertino, California 95014, or by email
at [email protected] and received by Apple's Secretary by the dates set forth above.
In addition,
proposals submitted by
shareholders for inclusion in TD Ameritrade's annual proxy statement, and
proposals submitted by stockholders for presentation
at TD Ameritrade's annual stockholders meeting, will not be considered
shareholder communications under this policy.
The National Center for Public Policy Research, 501 Capitol Court, N.E., Suite 200, Washington, D.C. 20002, beneficial owner of
at least 23 shares of Common Stock, is the proponent of the following
shareholder proposal.
Domini Social Investments, 532 Broadway, 9th Floor, New York, New York 10012, beneficial owner of
at least $ 2,000 in market value of shares of Common Stock, is the proponent of the following
shareholder proposal.
CCGG's Executive Director was quoted in the Financial Post on the
shareholder proposals seeking a new proxy access process to nominate directors
at two Canadian banks
His advocacy work includes direct communications with company leadership, investor education and awareness, filing
shareholder proposals, and public policy advocacy
at the municipal, state and federal levels.
Proposal details: We note how many proposals have been filed in each category, which are now pending, how many have been withdrawn for tactical or substantive reasons after negotiated agreements with companies, and the disposition of challenges to the proposals at the Securities and Exchange Commission (SEC) under its shareholder propos
Proposal details: We note how many
proposals have been filed in each category, which are now pending, how many have been withdrawn for tactical or substantive reasons after negotiated agreements with companies, and the disposition of challenges to the
proposals at the Securities and Exchange Commission (SEC) under its
shareholder proposalproposal rule.
The affirmative vote of the holders of a majority of the Shares present in person or represented by proxy
at the meeting and entitled to vote on the
proposal at issue is required for: (i) the ratification of the appointment of E&Y as Walmart's independent accountants for fiscal 2014; (ii) the adoption of a non-binding advisory resolution to approve the compensation of the company's NEOs; (iii) the approval of the Management Incentive Plan, as amended; and (iv) the adoption of each of the
shareholder proposals.
Our company has received notice of the intention of
shareholders to present four separate proposals for voting at the 2013 Annual Shareholders&raq
shareholders to present four separate
proposals for voting
at the 2013 Annual
Shareholders&raq
Shareholders» Meeting.
to vote on the four
shareholder proposals described in the accompanying proxy statement, if properly presented
at the meeting; and
Shares that are properly voted by the Internet or telephone or for which proxy cards are properly executed and returned will be voted
at the Annual Meeting in accordance with the directions given or, in the absence of directions, will be voted in accordance with the Board's recommendations as follows: «FOR» the election of each of the nominees to the Board named herein; «FOR» the ratification of the appointment of our independent auditors; «FOR» approval, on an advisory basis, of our executive compensation as described in this Proxy Statement; and «AGAINST» the
shareholder proposal.
At any meeting at which a quorum has been established, the affirmative vote of the holders of a majority of the Shares present in person or represented by proxy at the meeting and entitled to vote on the proposal at issue is required for: (i) the ratification of the appointment of EY as Walmart's independent accountants for fiscal 2016; (ii) the adoption of a non-binding advisory resolution to approve the compensation of the company's NEOs; (iii) the approval of the Stock Incentive Plan of 2015; and (iv) the adoption of each of the shareholder proposal
At any meeting
at which a quorum has been established, the affirmative vote of the holders of a majority of the Shares present in person or represented by proxy at the meeting and entitled to vote on the proposal at issue is required for: (i) the ratification of the appointment of EY as Walmart's independent accountants for fiscal 2016; (ii) the adoption of a non-binding advisory resolution to approve the compensation of the company's NEOs; (iii) the approval of the Stock Incentive Plan of 2015; and (iv) the adoption of each of the shareholder proposal
at which a quorum has been established, the affirmative vote of the holders of a majority of the Shares present in person or represented by proxy
at the meeting and entitled to vote on the proposal at issue is required for: (i) the ratification of the appointment of EY as Walmart's independent accountants for fiscal 2016; (ii) the adoption of a non-binding advisory resolution to approve the compensation of the company's NEOs; (iii) the approval of the Stock Incentive Plan of 2015; and (iv) the adoption of each of the shareholder proposal
at the meeting and entitled to vote on the
proposal at issue is required for: (i) the ratification of the appointment of EY as Walmart's independent accountants for fiscal 2016; (ii) the adoption of a non-binding advisory resolution to approve the compensation of the company's NEOs; (iii) the approval of the Stock Incentive Plan of 2015; and (iv) the adoption of each of the shareholder proposal
at issue is required for: (i) the ratification of the appointment of EY as Walmart's independent accountants for fiscal 2016; (ii) the adoption of a non-binding advisory resolution to approve the compensation of the company's NEOs; (iii) the approval of the Stock Incentive Plan of 2015; and (iv) the adoption of each of the
shareholder proposals.
Proposals of
shareholders to be considered for inclusion in the proxy statement and proxy card for the 2015 Annual Meeting pursuant to Rule 14a - 8 under the Securities Exchange Act of 1934 must be submitted in writing to the Secretary of Amazon.com, Inc.,
at Amazon.com, Inc., 410 Terry Avenue North, Seattle, Washington 98109, and must be received by 6:00 p.m., Pacific Time, on Thursday, December 11, 2014.
Our company has received notice of the intention of
shareholders to present five separate proposals for voting at the 2015 Annual Shareholders&raq
shareholders to present five separate
proposals for voting
at the 2015 Annual
Shareholders&raq
Shareholders» Meeting.
Previous studies have not found a significant market reaction to
shareholder proposals, but those studies have been limited by an inability to identify the date
at which investors become aware of a
proposal.
Absent such a standard, the
shareholder proposal rule becomes nothing less than a species of private eminent domain by which the federal government allows a small minority to appropriate someone else's property — the company is a legal person, after all, and it is the company's proxy statement
at issue — for use as a soap - box to disseminate their views.
Navient, which services and collects student loans, is facing a
shareholder proposal that asks the company to report on how it is managing its exposure, including
at board level.
Proxy season is back, and climate change is still
at the top of the
shareholder proposal agenda.
«In light of evolving investor sentiment, we have clarified that we consider that the board generally has an imperative to respond to
shareholder dissent from a
proposal at an annual meeting of more than 20 % of votes cast — particularly in the case of a compensation or director election
proposal.»
In my article, Revitalizing SEC Rule 14a - 8's Ordinary Business Exemption: Preventing
Shareholder Micromanagement by Proposal (March 29, 2016), available at SSRN: https://ssrn.com/abstract=2750153, I argued that shareholder use of the proposal rule should be substantially
Shareholder Micromanagement by
Proposal (March 29, 2016), available at SSRN: https://ssrn.com/abstract=2750153, I argued that shareholder use of the proposal rule should be substantially res
Proposal (March 29, 2016), available
at SSRN: https://ssrn.com/abstract=2750153, I argued that
shareholder use of the proposal rule should be substantially
shareholder use of the
proposal rule should be substantially res
proposal rule should be substantially restricted:
This year's
shareholder proposals filed or coordinated by NCPPR ask companies «to protect political free speech rights, but all those that have been challenged
at the SEC have been omitted,» Proxy Preview elaborates.
Because ICCR members and staff have been filing resolutions for over four decades, we have a great deal of expertise in how to write a strong
shareholder proposal that will pass muster
at the SEC and how to garner
shareholder support
at the AGM.
Items 4 through 6 are
shareholder proposals that will be voted on
at the annual meeting only if properly presented by or on behalf of the
shareholder proponent.
As opposed to ignoring
shareholders who abstain, as the
proposal would do, we believe it appropriate to count abstentions as present
at the Annual Meeting and entitled to vote, and thus as relevant in determining whether a majority of the shares present have voted in favor of a
proposal.
To consider and act upon the
shareholder proposals described in the Proxy Statement, if properly presented
at the Annual Meeting; and
All shares present in person or represented by proxy
at our Annual Meeting are entitled to vote on each
shareholder proposal included in the Proxy Statement.
Shares that are properly voted via the Internet, mobile device, or by telephone or for which proxy cards are properly executed and returned will be voted
at the Annual Meeting in accordance with the directions given or, in the absence of directions, will be voted in accordance with the Board's recommendations as follows: «FOR» the election of each of the nominees to the Board named herein; «FOR» the ratification of the appointment of our independent auditors; «FOR» approval, on an advisory basis, of our executive compensation as described in this Proxy Statement; and «AGAINST» each of the
shareholder proposals.
Notice of any
proposal that a
shareholder intends to present
at the 2015 annual meeting of
shareholders, but does not intend to have included in the Company's proxy statement and form of proxy relating to the 2015 annual meeting of
shareholders, as well as any director nominations, must be delivered to the Company's Secretary by mail
at 1 Infinite Loop, MS: 301 - 4GC, Cupertino, California 95014, or by email
at [email protected], not earlier than the close of business on October 31, 2014 and not later than the close of business on November 30, 2014.
The Company knows of no other matters to be submitted to the
shareholders at the Annual Meeting, other than the
proposals referred to in this Proxy Statement and the possible submission of the Floor
Proposal.