Council of Institutional Investors

Section: Oct. 6, 2022 | Vol 27, Issue 37
Universal Proxy Cards Debut at Two Contests for Board Seats
That didn’t take long. It’s only been six weeks since SEC rules requiring universal proxy cards (UPC) in contests for board seats took effect, and already dissident shareholders are using UPCs to gain footholds on corporate boards at two companies.
Lawmakers Urge Starbucks to Grant Unionized Stores Same Pay, Benefits as Others
Thirty-one House Democrats wrote to Starbucks CEO Howard Schultz October 3 expressing concern about reports that the company is offering pay increases and benefits only to those employees at non-union stores.
Lawsuit Against Meta Alleges Breach of Fiduciary Duty, Cites Dual-Class Structure

James McRitchie, shareholder activist and publisher of, filed a lawsuit October 3 in Delaware Chancery Court against the board and management of Meta (Facebook’s parent), alleging that they breached their fiduciary duty.
Links Between CEO Pay and Climate Metrics are Weak, Finds As You Sow Study
Companies are doing a poor job of linking CEO pay with GHG emissions reduction incentives, finds a new study by As You Sow.
Popularity of Racial Equity Audit Proposals Spiked in 2022, Conference Board Says

The Conference Board’s latest Shareholder Voting Trends report finds that the popularity of shareholder proposals on racial equity audits skyrocketed in 2022.