Stockholder
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The Supreme Court --- in its 'Citizens United' versus the Federal Election Commission case --- decided that Corporations, like 'the people', can make political donations to political parties, PACs, and candidates. The Court seems to have decided that 'Corporate Executives' are 'people' but 'Shareholders' are NOT 'people'. The Court did not assure that shareholders in 'public' companies have a voice in the process. The 'Citizens United' seems to have been a group of united CEO's. |
Go to the Companies List below
(i.e. Skip the Introduction)
! Note !
Some companies and proposals and links may be added
(or changed) on this page --- if/when I re-visit this page.
INTRODUCTION :
If a stockholder invests in many individual stocks, he/she will, annually, receive many 'proxy statements' --- along with proxy voting forms. The proxy voting forms (for U.S. companies) typically include three kinds of items to vote on:
IN ADDITION to these typical items on which to vote, from year to year, 'stockholder proposals' 'pop up' on the voting forms. When there are 'stockholder proposals', the company typically recommends a vote 'AGAINST' the stockholder proposal. The stockholder proposal is summarized by a brief statement on the voting form --- but there is a more detailed statement (word for word) of the stockholder proposal in the 'proxy booklet' --- along with the company executives' statement intended to explain why the executives (and board) urge stockholders to vote 'AGAINST' their fellow stockholder's proposal. Sometimes the 'stockholder' making the proposal is a large organization such as an investment organization that is investing for a group of retirees --- such as a group of government or labor-union retirees --- such as CALPERS (the California Public Employees' Retirement System). I often vote 'FOR' stockholder proposals when the company urges a vote 'AGAINST' --- in particular, when it comes to lobbying and political donations. Discussions of some common stockholder proposals follow. Company Political Contributions I find it reprehensible that many PUBLIC companies --- which are propped up by the investment of their stockholders --- want to keep secret the donations that the companies make to political parties and candidates. Since each stockholder is a 'part-owner' of the company (like Warren Buffet says), it seems only proper that those stockholders have a say in
After all, those company funds are being drained away from company functions --- such as paying dividends to shareholders and investing in assets and revenue generating potential of the company. The Supreme Court decision in the 'Citizens United' versus the Federal Election Commission case is at issue here. In that case, the Supreme Court essentially said that 'a company is a citizen' and, like a citizen, a company then has a right to donate to political parties and 'action committees' and candidates. The Supreme Court apparently decided to leave it up to a few executive officers of companies to decide on where to make donations --- WITHOUT ANY INPUT (i.e. VOTE --- i.e. PROPORTIONING OF DECISION MAKING) ACCORDING TO STOCKHOLDER ('part-owner') WISHES. This is why --- whenever I see a 'lobbying discosure' or 'political contributions' stockholder proposal --- I vote 'FOR' the proposal --- in spite of the fact that the company executives, invariably, recommend a vote 'AGAINST'. Shareholder Right to Act by WRITTEN CONSENT The 'right to act by written consent' is a pretty common shareholder proposal. And corporate boards almost always recomment a vote AGAINST this proposal. Shareholder action by written consent refers to corporate shareholders' right to act by written consent instead of a meeting. Here are a few sites that give more information on the 'written consent' proposal. Shareholder Right to PROXY ACCESS 'Shareholder proxy access' is about giving shareholders the ability to place a board candidate name directly on the proxy card that the company sends to all shareholders. Here are a few sites that give more information on the 'proxy access' proposal.
Other Stockholder Proposals Some stockholder proposals simply ask for a 'Report' --- which, in many cases, it seems to me will not result in much change --- and will just draw company resources away on useless paperwork. HOWEVER ... There are some stockholder proposals that I typically vote 'FOR' --- when the company executives recommend a vote 'AGAINST'. For example, because the 'heating up of Mother Earth' is a major and immediate crisis that is rapidly worsening on this planet, whenever there is a stockholder proposal related to 'climate change', I generally vote 'FOR' the proposal. AND, because the seas and waterways and lands of Mother Earth are being swamped with discarded PLASTICS, whenever there is a stockholder proposal related to 'green initiatives' such as recycling and minimizing disposal and use of plastics, I generally vote 'FOR' the proposal.
The Grouping and Sort Order of the The following 'Companies List' (of stockholder proposals) is in order by company name --- with one or more stockholder proposals listed under the company name. I considered grouping the stockholder proposals by subject matter --- such as 'lobbying' or 'climate change' or 'diversity' --- but there are some subtle differences in many of the proposals that differentiate them even more --- or that make them 'overlap' with other proposals. So I decided to simply group the proposals with each company name. There is an advantage to this 'grouping of proposals by company name' approach --- in that the grouping gives a 'characterization' of the company --- when one sees the kinds of proposals that the company executives recommend 'AGAINST'. You can scroll down 'the List' to get a quick overview of the kinds of issues that are of importance to stockholders. One of the issues that comes up over and over is the right to act by written consent --- an alternative to 'special meetings' and 'annual meetings' of shareholders. Some other issues that are frequently seen in stockholder proposals (besides political contributions and lobbying issues) are
Format of the data : The 'Companies List' below shows the following elements:
Searching this page : If you are looking for some particular information, you can use the text search function of your web browser. For example, if you are looking for information on a specific company, you can enter a character-string such as 'veriz' or 'conoco' in the text search entry field of your web browser, to find info (on this page) on a company such as 'Verizon' or 'Conoco-Phillips'. And, if you are looking for occurrences of stockholder proposals having to do with 'lobbying' or 'political contributions', you can enter a character-string such as 'lobby' or 'politic'. Below the 'Companies List' on this page, there is a section of links to various sites that provide more links and information on how to get more information on any given company. A Note on the Year of the Shareholder Proposals: There may be some inconsistency in the year reported for the stockholder proposals. The proxy statement that lists the stockholder proposals are usually sent out WITH the annual report on financials for the preceding year. For example, the proxy items to be voted may be sent out in the spring of 2023 along with the annual report of financials for 2022. Furthermore, the proxy statement in 2023 will show the executive compensation up to the year 2022. And approval of executive compensation is usually one of the items to be voted on. In this case, although the proxy voting form is received in 2023, the year of the stockholder proposals listed below may the shown as 2022 (the year of the annual report and the year of the latest executive compensation info in the proxy statement) --- rather than the year (2023) in which the proxy materials were received and to be voted on. In other words, the year shown below may be different (by a year) from what you may be expecting. You can go to a site like 'sec.gov' to see past proxy statements if you are concerned about the year of the proxy statement in which the shareholder proposals were presented for voting. Spoiler Alert : (on political contributions) Here are some of the companies that do not want to be fully transparent about their political contributions and/or lobbying activities. You can bet that these companies are giving lots of money to politicians who are getting money from the NRA to stifle legislation that could seriously reduce the number of school children killed in school shooting incidents (at least 33 in 2021) --- and about 700 'mass shootings' (4 or more killed) per year (at least 700 dead and 2,800 injured in 2021) --- with more than 20,000 homicides & 23,000 suicides in 2021 --- in the United States. CEO's determine to which politicians the company money is going --- with no input from stockholders --- thanks to the horrible 'Citizens United' decision of the U.S. Supreme Court.
Enough. Here is the 'List of Stockholder Proposals' --- grouped by company --- and in order by Company Name. |
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Some LINKS for more information
Some more information on these companies may be available at their web sites --- and their 10-K reports may be available at the SEC web site at sec.gov, where SEC = Securities and Exchange Commission. The site docoh.com provides SEC filings (such as 10-K annual reports and proxy statements, which include executive compensation data) in convenient lists of links to relevant documents. (You can use the 'Search' field at the top of the docoh.com home page. Enter a stock symbol or company name. The '10-K' annual reports and 'DEF 14A' annual proxy statements are readily available.) The site macrotrends.net is a good source of revenues data for any given company --- for multiple years on one web page per company. The site salary.com is a good source of executive compensation for any given company --- for multiple years on one web page per company. You can do various web searches on various companies to get further information about shareholder proposals. For example, using Expedia Group Inc. and Delta Airlines as sample companies, here are some example queries.
Additionally, you can get further information on many companies at Wikipedia --- for example, Alliant Energy (Wikipedia link). You can use these WEB SEARCH and Wikipedia links, and change the company name for info on other companies. Furthermore, there are many more links to financial information and charts on the Stock Price Histories web page of this site. By the way, you are welcome to take a copy of this page and add/change/correct data --- and/or re-organize the page as you wish --- and publish it on your own web site. In conclusion: VOTE THOSE PROXIES! If you want to help put the brakes on the rapidly accelerating 'pay inequities' (accelerating executive compensation) --- and express yourself on various 'stockholder proposals', do not throw away those 'proxies' without voting them. It is easy to vote via the internet. It just takes a small number of clicks or pokes at a 'proxy vote' web site. In particular, almost every proxy includes a 'say on pay' item in the 'voting instruction form' --- worded something like this: 'Advisory vote to approve executive compensation.' OR 'To approve, on a non-binding advisory basis, the compensation of the named executive officers.' Typically you are offered the options: 'For', 'Against', or 'Abstain'. Or the options: 'For' or 'Withold'. If you think pay increases of 100's of thousands of dollars (and millions) per year are unwarranted (especially after a mediocre or bad year or series of years), then vote 'Against' or 'Withold'. And if you want to vote 'FOR' rather than 'AGAINST' on a stockholder proposal, JUST DO IT. These votes are typically only 'advisory' --- but if enough people vote this way, mountains can be moved. |
'Corporations' means the CEO's
--- with no proportional representation
allowed to the shareholders --- according to
their part-ownership (investment) in a company.
Bottom of this Stockholder Proposals page --- for more than 50 companies. To return to a previously visited web page location, click on the Back button of your web browser, a sufficient number of times. OR, use the History-list option of your web browser. OR ...
< Go to Top of Companies List, above. >
Page history:
Page was created 2020 Jun 09.
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The simplest solution to this problem
is to go back to allowing only
individual citizens to make political
donations --- NOT corporations.