Shareholders of corporations have the right to take part in the firm’s strategic management by participating in annual meetings. A company’s management proposes issues to be voted on at these meetings, and shareholders have the right to place their own proposals on the ballot.
We file these proposals each year to send a signal to corporate management and the board. This often encourages the company to speak to us about reaching an agreement. If an agreement is reached, we are pleased to withdraw our proposal.
If we cannot reach agreement, the proposal is printed in the corporate proxy statement and presented at the company’s annual meeting, where it is put to a vote by all company shareholders. We view the shareholder proposal as a tactical tool, not an end. Our goal is to encourage the company to engage in dialogue to make progress on the underlying issue.
We frequently collaborate with other investment firms, public pension funds and foundations. Below, we list under “lead filer” the filings in which we played the main role. Under “co-filer,” we list proposals where Domini played a supporting role.