Proxy Vote Records
Where the University has direct holdings of a company’s stock (rather than an indirect claim on an equity issue’s dividends and price appreciation held through unit ownership in a commingled fund), it is eligible to cast proxy votes for or against shareholder and management proposals and the election of corporate directors. To be eligible to cast votes – typically, there is one vote per share owned – the University must hold a company’s shares as of a specified date (called the Record Date) in advance of a company’s annual or special shareholder meeting. The University has contracted with a proxy research and advisory service, Institutional Shareholder Services (ISS), which compiles sets of vote recommendations, including a set tailored to Catholic institutions. ISS’ Catholic policy guidelines constitute the University’s default for registering its votes, though votes may be changed from the default recommendation.
Below are links to quarterly vote history records for corporate shareholder meetings for which the University has voted a proxy since the beginning of 2006. The meetings on each report are sorted in order of the record date that determined shareholders’ eligibility to vote, while the quarterly period each report covers refers to the date of the meetings themselves. Meetings are classified as either “AGM,” “EGM,” or “MIX,” which refer, respectively, to annual (regular) general meetings, special meetings called to discuss specific business such as a merger proposal, or a combination of the two.
While each agenda item is listed for each meeting, the report format cannot provide further detail or background information. More detail on a board candidate or proxy proposal can be found by browsing the company’s Definitive Proxy Statement (Schedule 14A) filing at the Securities and Exchange Commission’s EDGAR website: www.sec.gov/edgar.shtml Some additional notes:
Reports indicate whether a proposal was sponsored by management or by shareholders, and include management’s vote recommendation, ISS’ standard vote recommendation, and ISS’ Catholic policy recommendation in addition to the vote cast by the University
An ISS recommendation of “Refer” indicates either a proposal for which some action other than a vote For or Against is required or a meeting of a company in which ISS has an interest (by virtue of an ownership or transactional relationship) that prevents it from issuing a recommendation
Instances in which no University vote is listed are the result of the University or ISS having received proxy notification or documentation after the cutoff date for recording a vote.