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You are in Direct - Listed Equity Active Ownership » (Proxy) voting and shareholder resolutions
Mercy uses ISS which developed faith-based proxy voting guidelines for Catholic and other Christian religious institutions that are consistent with the objectives of socially responsible shareholders as well as the teachings of Catholicism and Christianity as a whole. On matters of social and environmental impact, the guidelines seek to reflect a broad consensus of the faith-based socially responsible investing community. Generally, ISS takes their frame of reference policies and proposals promulgated by the Catholic Bishops' Pastoral on economics, the Socially Responsible Investment Guidelines adopted by the Bishops, and the policies developed by members of the Interfaith Center on Corporate Responsibility (ICCR).
Mercy Investment Team does not engage with the companies directly when ISS voted against management recommendations.
Individual shareholder filed a precatory proposal requesting company to implement procedures to prevent or recommend against investments in companies that contribute to genocide or other crimes against humanity.
ISS vote FOR this proposal is warranted for the following reasons:* Shareholders would benefit from careful monitoring of Franklin Resource's investment choices, given the inherent or potential reputational risks related to investments in high-risk markets;* Adoption of the proposal would result in more robust communication regarding the fund's policies and oversight mechanisms related to the incorporation of non-financial risk management factors into investment decision-making processes.
Votes AGAINST incumbent nominees Stephen Zelnak Jr., Allan Merrill, Elizabeth Acton, Laurent Alpert, Brian Beazer, Peter (Pete) Leemputte, Peter Orser, Norma Provencio and Danny Shepherd are warranted for lack of diversity on the board.
Catholic Advisory Services believes that it is in the best interests of shareholders for management to give serious consideration to issues concerning board diversity. In cases where the board lacks at least one female and one racially diverse director, and the board is not at least 30 percent diverse, Catholic Advisory Services recommends that shareholders vote against the entire board, with the exception of new nominees.
ISS voted against proposal by management to ratify executive officer's compensation.
A vote AGAINST this proposal is warranted due to the following concerns: A majority of equity awards to the CEO are not tied to performance-contingent pay elements; and high CEO pay relative to company performance compared to the company’s peers.
A vote FOR the director nominees for Sotheby's is warranted as a majority of the board comprises independent directors, the key board committees are independent and there is both gender and racial diversity on the board.
The company has adopted a majority vote standard (of shares cast) for the election of directors with a plurality carve-out for contested elections, and has a director resignation policy in its bylaws/charter.