Proxy Monitor 2016 — Finding 3: Political Spending and Lobbying
As June draws to a close, so does corporate America’s 2016 proxy season, when most large publicly traded companies hold annual meetings; at these meetings, corporate shareholders cast votes on ballot items—typically by proxy—considering questions placed on ballots distributed under rules promulgated by the Securities and Exchange Commission. This finding explores 2016 shareholder-proposal activism related to political spending and lobbying in historical and recent context.
- In 2016, a shareholder proposal concerning corporate political spending received majority shareholder support over board opposition—the first such result among 455 such proposals introduced over the last 11 years.
- There was no overall increase in shareholder support for political-spending-related proposals—notwithstanding increased political pressures.
- As was the case last year, proposals related to corporate political spending or lobbying were the second-most common class of shareholder proposals introduced in 2016.
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