This Week in AGMs

This past and upcoming week in shareholder meetings - what happened, what to expect

If you missed it, catch last week's TWAGM here

This past week:

• Shareholder proposals at…

  • Revvity RVTY 0.00%↑ - Simple majority vote standard: PASSED, 96.6%

  • Teledyne TDY 0.00%↑ - Simple majority vote: PASSED, 80.9%

  • Sherwin-Williams SHW 0.00%↑ - Simple majority vote: PASSED, 71.5%

  • Select Medical SEM 0.00%↑ - Simple majority vote: PASSED, 61.7%

  • L3Harris LHX 0.00%↑ - Transparency in Lobbying: 32.2%

  • Bloomin Brands BLMN 0.00%↑ - Written consent: 41%

  • MSCI MSCI 0.00%↑ - report on “Chinese Military-Industry Companies” in Company indices (anti-ESG proponent): 0.4%

  • Bank Of America BAC 0.00%↑

    • Report on risks of politicized de-banking (anti-ESG proponent): 3.2%

    • Report on lobbying alignment with Bank of America’s climate goals: 27.5%

    • Disclosure of clean energy financing ratio: 26%

    • Right to act by written consent: 13.4%

    • Independent board chair: 31.3%

    • Changes to executive compensation program: 7.1%

  • Charter Communications Inc. CHTR 0.00%↑ (top two investors comprise 40% ownership and have voting agreements in connection with director representation)

    • Lobbying: 22.3%

    • Political expenditures report: 22%

  • Marathon Petroleum MPC 0.00%↑ - Simple majority vote: 46.6%

  • Truist Financial TFC 0.00%↑

    • Lobbying: 41.2%

    • Report on Board Oversight of Risks Related to Discrimination (anti-ESG proponent): 2.2%

  • West Pharmaceutical Services WST 0.00%↑ - Simple majority vote: per the 8-K: “After the Proxy publication date, the U.S. Securities and Exchange Commission issued a No-Action Letter in our favor regarding the shareholder proposal included in the Proxy as Proposal 6. Therefore, that proposal was not presented at the 2024 Annual Shareholder Meeting, because it was duplicative of management Proposals 3 and 4 [which both passed].”

  • The Cigna Group C 0.00%↑

    • Improve the shareholder right to call a special shareholder meeting: 48.1%

    • Report to shareholders on risks created by the Company's diversity, equity, and inclusion efforts (anti-ESG proponent): 1.6%

  • Texas Instruments TXN 0.00%↑

    • Proposal to permit a combined 15% of stockholders to call a special meeting: 42.6%

    • Report on due diligence efforts to identify risks associated with product misuse: 17.4%

  • Textron TXT 0.00%↑ - Independent board chairman: 32.9%

  • Autonation AN 0.00%↑ - Political contributions: 27%

  • TEGNA TGNA 0.00%↑ - Opportunity to Vote on Excessive Golden Parachutes: 9.2%

  • Olin OLN 0.00%↑ - Director election resignation bylaws: 25.9%

  • HP Inc HPQ 0.00%↑ - Proposal to require stockholder ratification of certain termination pay: 8.4%

  • Canadian Pacific Kansas City Limited CP 0.00%↑ - proposal asking the Board to negotiate paid sick leave policies with all unions representing CPKC’s U.S. workforce: 13.4%

  • Goldman Sachs GS 0.00%↑

    • Policy for an Independent Chair: 33.4%

    • Lobbying: 39.1%

    • Outcome Report on Efforts regarding Protected Classes of Employees: 15%

    • Environmental Justice Impact Assessment: 10%

    • Disclosure of Clean Energy Supply Financing Ratio: 28.5%

    • GSAM Proxy Voting Review: 8.2%

    • Report on Financial Statement Assumptions Regarding Climate Change (anti-ESG proponent): 0.8%

    • Pay Equity Reporting: 29.8%

  • Levi Strauss & Co. LEVI 0.00%↑ - Corporate financial sustainability report: 0.6%

• Low director election support at…

  • Interactive Brokers Group Inc IBKR 0.00%↑ - William Peterffy: 88.9%

  • Home Bancshares HOMB 0.00%↑ - J. Pat Hickman: 66.9%

  • Innovative Solutions And Support ISSC 0.00%↑

    • Glen R. Bressner: 52.5%

    • Stephen L. Belland: 54.8%

    • Roger A. Carolin: 59.5%

  • City Holding CHCO 0.00%↑ - J. Thomas Jones: 79.5%

  • Equity Bancshares Inc EQBK 0.00%↑ - all directors up received between 79-81%

  • Snap-on SNA 0.00%↑ - David C. Adams: 78.2%

  • BCB Bancorp Inc BCBP 0.00%↑ - Joseph Lyga: 58.4%

  • Origin Bancorp OBK 0.00%↑

    • Daniel Chu: 76.4%

    • Stacey Goff: 76.3%

  • Ameriprise Financial AMP 0.00%↑ - Amy DiGeso: 83.7%

  • 1st Source SRCE 0.00%↑

    • Mark D. Schwabero: 71.8%

    • Ronda Shrewsbury: 75.7%

  • Dana DAN 0.00%↑ - R. Bruce McDonald: 74.7%

  • Inari Medical NARI 0.00%↑

    • William Hoffman: 73.4%

    • Donald Milder: 72.4%

• Low compensation-related items at…

  • Amarin AMRN 0.00%↑ - Say-on-Pay: 79.5%

  • Bank Of America - Amending and restating Equity Plan: 78.2%

  • Kirby KEX 0.00%↑ - Say-on-Pay: 71.7%

  • Broadcom AVGO 0.00%↑ - Say-on-Pay: 61.3%

(Special thanks to Howard Jacobs for an addition to the low compensation list.)

Thanks for subscribing and have a great week.

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