Tag Archives | declassify

Kellogg 2019 Proxy Vote Recommendations

Kellogg 2019 annual meeting is April 26th. Stock price fared poorly for the last five years, so the CEO should not be paid as if he had average performance. Vote AGAINST pay. The Compensation Committee should not be reelected, since they recommended average pay for below average performance. Vote AGAINST Laschinger and Tasted. Vote AGAINST ratifying the auditor. They have served for more than seven years, so independence is questionable. Vote FOR declassifying the board, so that we can hold each member accountable every year.

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Chevedden Group Proxy Proposals

For years, the “Chevedden group” (Chevedden, McRitchie/Young and Steiner) has focused almost exclusively on governance proposals. More democratic corporations are likely to listen to their shareholders on other issues as well.  Democracies facilitate voice and the exchange of ideas. Fighting for environmental and social issues, while extremely important, felt like addressing symptoms, rather than root causes.

Chevedden group proposals seek to declassify boards, require majority votes to elect directors, allow proxy access, and allow shareholders to call special meetings. Since many large cap companies have now adopted such provisions, we are broadening our scope to also focus on other issues. Below are some preliminary results for 2018. Continue Reading →

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EllieMae Proxy Voting Guide: CorpGov.net

EllieMae, Inc. (ELLI) provides on-demand software solutions and services for the residential mortgage industry in the United States. EllieMae is one of the stocks in my portfolio. ProxyDemocracy.org had collected the votes of one fund family when I checked and voted. Their annual meeting is coming up on May 17, 2017, so vote now.

I voted FOR #4 to declassify the board. See how and why I voted other items below. I voted with the Board’s recommendations % of the time. View proxy via SEC’s EDGAR system (look for DEF 14A). Continue Reading →

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Netflix: Proxy Score 11

NetflixNetflix, Inc. (NFLX), an Internet television network, engages in the Internet delivery of TV shows and movies directly on TVs, computers, and mobile devices in the United States and internationally. It is one of the stocks in my portfolio. Their annual meeting is coming up on 6/9/2015. ProxyDemocracy.org had the vote of two funds when I checked and voted on 6/3/2015.  I voted with management 11% of the time and assigned Netflix a proxy score of 11. Continue Reading →

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iRobot Corporation: Proxy Score 33

iRobotiRobot Corporation (NASD:IRBT), one of the stocks in my portfolio, offers consumer , defense and security products, remote presence products and handles contract research and development projects. Their annual meeting is coming up on 5/20/2015. ProxyDemocracy.org had no votes from funds when I checked and voted on 5/13/2015. I voted with the Board 33% of the time and assigned iRobot a proxy score of 33. Continue Reading →

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Florida SBA Increases Shareowner Value Through Active Ownership

FloridaSBA

Mike McCauley

Michael McCauley

The State Board of Administration of Florida (Florida SBA) is the fourth largest public pension fund in the US and was early to announce their votes in advance of annual meetings. Those announcements can be found on the Florida SBA site, as well as on Proxy Democracy. The following is from a press release that Florida SBA issued out last week on their accomplishments during the recent proxy season. They certainly did a lot to  shift us to more democratic forms of corporate governance. Congratulations to Ash WilliamsMichael McCauley and all those working at Florida SBA. Continue Reading →

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Netflix $NFLX: Proxy Vote

netflixNetflix (NFLX), is one of the stocks in my portfolio. Their annual meeting is June 9, 2014. ProxyDemocracy.org had collected the votes of three funds when I checked and voted on 6/4/2014.  I voted with management 27% of the time.  View Proxy Statement (why no linked Table of Contents?) Read Warnings below. What follows are my recommendations on how to vote the NFLX proxy in order to enhance corporate governance and long-term value.   Continue Reading →

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NCR Corporation (NCR): How I Voted – Proxy Score 40

NCRThe NCR Corporations $NCR, is one of the stocks in my portfolio. Their annual meeting is coming up on 4/23/2014. ProxyDemocracy.org had collected the votes of two funds when I checked and voted on 4/18/2014.  I voted with management 40% of the time. View Proxy Statement. Why no index with no links? That seems so basic. Perhaps NCR doesn’t want to make reading the proxy easy? Continue Reading →
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Netflix: More Reasons for Proxy Access

Netflix, Inc. ($NFLX) is one of the stocks in my portfolio. Their annual meeting is coming up on 6/7/2013. I reported how I voted and why I am proposing proxy access in Netflix Needs Proxy Access – Proxy Score 10 Out of 100.

I’ll just add that so far this year, insiders of NFLX have sold approximately 635M in shares and have purchased zero shares. The stock price has risen dramatically since my wife filed har proxy access resolution last year. Hopefully, that won’t deter shareowners from voting for better corporate governance, which should help protect shareowners now and in the future. Below, I reproduce the full analysis by John Laide of proposals to be voted on at the NFLX annual Continue Reading →

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How I Voted: Kansas City Southern (KSU) – Vote Score 86%

Kansas City Southern ($KSU) is one of the stocks in my portfolio. Their annual meeting is coming up on 5/2/2013. ProxyDemocracy.org had collected the votes of three funds when I checked on 4/26/2013. I also checked OTPP, which voted the same as CalSTRS and Calvert. I voted with management 86% of the time.  View Proxy Statement. Warning: Be sure to vote each item on the proxy. Any items left blank are voted in favor of management’s recommendations. (See Broken Windows & Proxy Vote Rigging – Both Invite More Serious Crime) Continue Reading →

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How I Voted: Kellogg (K) – Proxy Score 75%

Kellogg ($K) is one of the stocks in my portfolio. Their annual meeting is coming up on 4/26/2013. ProxyDemocracy.org had the wrong date for the meeting and hadn’t posted any votes when I checked on 4/23/2013.  I voted with management 75% of the time.  View Proxy Statement. Warning: Be sure to vote each item on the proxy. Any items left blank are voted in favor of management’s recommendations. (See Broken Windows & Proxy Vote Rigging – Both Invite More Serious Crime) Continue Reading →

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How I Voted: NCR – Proxy Score 12.5%

NCR ($NCR) is one of the stocks in my portfolio. Their annual meeting is coming up on 4/24/2013. ProxyDemocracy.org had collected the votes of two funds when I checked on 4/21/2013.  I voted with management 12.5% of the time.  View Proxy Statement. Warning: Be sure to vote each item on the proxy. Any items left blank are voted in favor of management’s recommendations. (See Broken Windows & Proxy Vote Rigging – Both Invite More Serious Crime)

I generally vote against pay packages where NEOs were paid above median in the previous year but make exceptions if warranted. According to Bebchuk, Lucian A. and Grinstein, Yaniv (The Growth of Executive Pay), aggregate compensation by publiccompanies to NEOs increased from 5 percent of earnings in 1993-1995 to about 10 percent in 2001-2003. Continue Reading →

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UNFI: How I Voted – Proxy Score 17%

United Natural Foods ($UNFI) is one of the stocks in my portfolio. Their annual meeting is coming up on 12/12/2012. ProxyDemocracy.org had collected the votes of three funds when I voted on 12/5/2012.  I voted with management only 17% of the time.  View Proxy Statement. Warning: Be sure to vote each item on the proxy. Any items left blank will be voted in favor of management’s recommendations. (See Don’t Let Companies Change Shareholders’ Blank Votes) Continue Reading →

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