Shareholder Resolutions

If companies don’t respond favorably to dialogue, Portico may file a shareholder resolution. Resolutions appear on proxy ballots, giving every shareholder the opportunity to vote on a proposed change. In practice, many resolutions filed by Portico and others never end up on ballots because companies agree to implement the proposed changes or agree to ongoing dialogue.

Meetings

Default Closed
2022 Meetings

Shareholder Resolutions filed 2021 – 2022

Company Meeting Issue Status
Tyson Foods Winter 2022 Racial Equity Audit Resolution Filed on August 23, 2021.

In order to mitigate legal, financial, reputational, and human capital management risks, requesting disclosure of the findings of an independent racial equity audit.

2021 Meetings

Shareholder Resolutions filed 2020 – 2021

Company Meeting Issue Status
AbbVie Spring 2021 Drug Pricing Withdrawn due to commitment to include language linking drug pricing to executive compensation.

Filed on November 23, 2020.
In order to address risks related to the high price of medicines, requesting a report assessing the feasibility of incorporating public concern over high drug prices into the senior executive compensation arrangements.

Advance Auto Parts Spring 2021 Renewable Energy Withdrawn due to commitment to establish GHG reduction goals and adopt targets to increase renewable energy use. Also commitment to publish a report related to these goals.

Filed on December 2, 2020.
In order to address climate change and the financial risks associated, requesting to adopt company-wide goals to increase Company’s use of renewable energy and energy efficiency.

AIG Spring 2021 Climate Lobbying Withdrawn due commitment to additional disclosure and climate related commitments.

Filed on November 23, 2020.
Corporate lobbying activities that are inconsistent with meeting the goals of the Paris Agreement present regulatory, reputational, legal and financial risks, therefore requesting a report around lobbying activities alignment with the Paris Agreement.

CVS Health Spring 2021 Employee Paid Sick Leave Resolution was omitted by the SEC.

Filed on December 2, 2020.
In order to contribute positively to public health and counter the negative economic impact of the pandemic, requesting report on the feasibility of including the paid sick leave policy adopted for COVID-19 to be a standard employee benefit.

Entergy Spring 2021 Climate Lobbying Withdrawn due to commitment to increase disclosure in annual report on corporate lobbying.

Filed on November 23, 2020.
Corporate lobbying activities that are inconsistent with meeting the goals of the Paris Agreement present regulatory, reputational, legal and financial risks, therefore requesting a report around lobbying activities alignment with the Paris Agreement.

Expedia Summer 2021 Human Rights Withdrawn due to company working on human rights policy, and sharing with investors. Committed to continued dialogue.

Filed on December 21, 2020.
In order to effectively manage human rights risks, asking for a report on the company’s policies and procedures to address the human rights risks associates with business activities in conflict-affected and high-risk areas.

ExxonMobil Spring 2021 Climate Lobbying 63.8% FOR vote at the May 26, 2021 meeting.

Corporate lobbying activities that are inconsistent with meeting the goals of the Paris Agreement present regulatory, reputational, legal and financial risks, therefore requesting a report around lobbying activities alignment with the Paris Agreement.

Home Depot Spring 2021 Workforce Diversity Withdrawn due to commitment to annually disclose its consolidated EEO-1 (equal employment opportunity) report. This is a report that discloses a company’s workforce by items like race/ethnicity and gender.

Filed on December 4, 2020.
In order to help demonstrable commitments to hire, retain, and promote Black employees, other employees of color and women, requesting workplace diversity disclosure.

Phillips 66 Spring 2021 Climate Lobbying 80.3% FOR vote at the May 12, 2021 meeting.

Corporate lobbying activities that are inconsistent with meeting the goals of the Paris Agreement present regulatory, reputational, legal and financial risks, therefore requesting a report around lobbying activities alignment with the Paris Agreement.

Tyson Foods Winter 2021 Human Rights 18.4% FOR vote at the February 11, 2021 meeting. Note: Tyson Limited Partnership controls over 70% of the vote via Class A and Class B share ownership.

Filed on August 17, 2020.
In order to assess, identify, prevent, mitigate, and remedy actual and potential human rights impacts, requesting a report on the Company’s human rights due diligence process.

United Airlines Spring 2021 Climate Lobbying 65.4% FOR vote at the May 26, 2021 meeting.

Corporate lobbying activities that are inconsistent with meeting the goals of the Paris Agreement present regulatory, reputational, legal and financial risks, therefore requesting a report around lobbying activities alignment with the Paris Agreement.

US Physical Therapy Summer 2021 Board Diversity Withdrawn due to the company created a standalone Diversity Policy, which includes a commitment to include women and people of color in each candidate pool for future Board seats.

Filed on December 4, 2020.
In order to help contribute to a well-functioning board, requesting a policy to be adopted to foster greater diversity on the Board of Directors.

Valero Spring 2021 Climate Lobbying Withdrawn due to commitment to conduct an evaluation of climate-related lobbying activities.

Filed on November 13, 2020.
Corporate lobbying activities that are inconsistent with meeting the goals of the Paris Agreement present regulatory, reputational, legal and financial risks, therefore requesting a report around lobbying activities alignment with the Paris Agreement.

2020 Meetings

Shareholder Resolutions filed 2019 – 2020

Company Meeting Issue Status

Amgen

Spring 2020

Drug Pricing

Withdrawn due to update of their Compensation Disclosure and Analysis to focus on compensation awarded for volume driven growth instead of drug pricing.

In order to address risks related to the high price of medicines, requesting a report assessing the feasibility of incorporating public concern over high drug prices into the senior executive compensation arrangements.

Biogen

Summer 2020

Drug Pricing

Withdrawn due to increased Compensation Disclosure that includes addressing drug pricing in executive compensation.

In order to address risks related to the high price of medicines, requesting a report assessing the feasibility of incorporating public concern over high drug prices into the senior executive compensation arrangements.

BlackRock

Spring 2020

Proxy Voting Climate Change Report

Withdrawn due to BlackRock’s agreement to circulating an investor statement on the importance of supporting climate related proposals. Also agreed to continued dialogue including discussion on improving voting disclosure.

In order to address risks with inconsistencies with proxy voting practices and company statements addressing climate change, requesting a review and report on proxy voting policies related to climate change.

Capri Holdings

Summer 2020

Sustainability

Withdrawn due to agreement to issue a Sustainability Report and continued dialogue for feedback on the released report.

In order to minimize risks arising from litigation, reputational damage, and supply chair disruptions, requesting an annual sustainability report.

Cheniere Energy

Spring 2020

Lobbying

Withdrawn due to agreement to issue a Sustainability Report including lobbying disclosures and continued dialogue to develop the report.

A lack of lobbying disclosure presents reputational risks when lobbying contradicts company public positions, therefore requesting a report around lobbying disclosures.

Ensign Group

Spring 2020

Board Diversity

Withdrawn as company appointed a board member that adds to the diversity of the board, and is exploring ways to enhance the company’s governance documents and proxy disclosure to more effectively communicate its commitment to board diversity.

In order to help contribute to a well-functioning board, requesting a report on steps being taken to enhance board diversity beyond current levels.

ExxonMobil

Spring 2020

Lobbying

37.5% FOR vote at the May 27, 2020 meeting.

A lack of lobbying disclosure presents reputational risks when lobbying contradicts company public positions, therefore requesting a report around lobbying disclosures.

General Motors

Summer 2020

Lobbying

33.1% FOR vote at the June 16, 2020 meeting.

A lack of lobbying disclosure presents reputational risks when lobbying contradicts company public positions, therefore requesting a report around lobbying disclosures.

JPMorgan

Spring 2020

Proxy Voting Climate Change Report

Withdrawn due to commitments around new global sustainability initiatives and continued dialogue.

In order to address risks with inconsistencies with proxy voting practices and company statements addressing climate change, requesting a review and report on proxy voting policies related to climate change.

Royal Caribbean

Spring 2020

Human Rights

Withdrawn due to commitment to create an internal cross-departmental working group on how they can conduct human rights due diligence in their operations and supply chain and continued dialogue.

In order to address human rights risks, requesting a report on the Company’s management systems and processes to implement the commitments outlined in its human rights policies.

Skechers

Spring 2020

Human Rights

18.3% FOR vote at the May 21, 2020 meeting.

In order to address human rights risks, requesting a human rights policy, including steps to identify, assess, prevent, and mitigate adverse human rights impacts.

Tyson Foods

Winter 2020

Human Rights Resolution

14.7% FOR vote at the February 6, 2020 meeting. Note: Tyson Limited Partnership controls over 70% of the vote via Class A and Class B share ownership.

In order to assess, identify, prevent, and mitigate adverse human rights impacts, requesting a report on the Company’s human rights due diligence process.