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
2021 Meetings

Shareholder Resolutions filed 2020 – 2021

Company Meeting Issue Status

Tyson Foods

Winter 2021

Human Rights

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.

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Withdrawn due to update of their Compensation Disclosure and Analysis to focus on compensation awarded for volume driven growth instead of drug pricing.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Withdrawn due to increased Compensation Disclosure that includes addressing drug pricing in executive compensation.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Withdrawn due to BlackRock’s agreement to circulating an investor statement on the importance of supporting climate related proposals.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Withdrawn due to agreement to issue a Sustainability Report and continued dialogue for feedback on the released report.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Withdrawn due to agreement to issue a Sustainability Report including lobbying disclosures and continued dialogue to develop the report.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.