Shareholders Monthly archive

Apr 26, 2021
SEC says SeaWorld can exclude shareholder proposal for ‘micromanagement’
The SEC has said SeaWorld Entertainment may exclude an animal rights group-backed proposal seeking a report on moving its business away from using animals on the grounds that it constitutes micromanagement. The proposal from the People for the Ethical Treatment of Animals (Peta) states: ‘In order to address the most pressing issues SeaWorld faces today – specifically, the public’s continued opposition to captive-animal displays and the consequential impact of ...
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Apr 16, 2021
SEC says Rooney Rule proposals are micromanagement
The SEC has said Activision Blizzard and Amazon are free to exclude union-backed shareholder proposals seeking to increase diversity among the companies’ employees on the grounds that the measures constitute micromanagement. The American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) Reserve Fund filed the proposals, each of which states: ‘Shareholders request that the board of directors of [the company] adopt a policy for improving workf...
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Apr 15, 2021
Northrop Grumman shareholders to vote on human rights proposal
Northrop Grumman shareholders will vote next month on a proposal seeking information about the aerospace and defense company’s human rights impact. The measure is brought by Sisters of St Dominic of Caldwell, New Jersey and the School Sisters of Notre Dame Cooperative Investment Fund. It will be offered for approval at the May 19 AGM and requests that the company publish a report ‘with the results of human rights impact assessments examining the actual and poten...
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Apr 14, 2021
Amazon faces ‘racial equity audit’ proposal
Amazon shareholders are set to vote on a proposal asking the company to conduct a ‘racial equity audit,’ joining investors elsewhere considering measures seeking to assess how companies are approaching racial issues. The proposal is brought by the New York State Common Retirement Fund, the trustee of which is New York State comptroller Thomas DiNapoli, and other funds and foundations. Specifically, the proponents are seeking a vote on a request that the b...
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Apr 08, 2021
PayPal faces proposal on company culture report
PayPal shareholders are set to vote on whether to commission a report into company culture as investor interest grows in how US companies are addressing racial issues. The proposal filed by NorthStar Asset Management, Inc Funded Pension Plan states: ‘Shareholders urge the board of directors to prepare a report to shareholders on whether written policies or unwritten norms at the company reinforce racism in company culture.’ In a supporting statement, the ...
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Apr 01, 2021
Chevron faces two climate change shareholder proposals
Chevron Corporation shareholders are set to vote on two climate change-related proposals after the SEC rejected efforts to exclude them – although it gave no-action relief for excluding two similarly themed proposals. The proposals come as investor interest in climate change issues has ramped up over the past year and as the topic is gaining renewed attention from US regulators. The Biden administration has made the climate crisis a priority and there are already ...
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