Shareholder proposal on political spending disclosure

The matter

A shareholder proposal from the New York State Common Retirement Fund asks Palantir to publish a periodic report on its policies for corporate political contributions and expenditures, along with the recipients and amounts. The request excludes lobbying spending and spending by the employee political action committee. The board recommends a vote against, saying existing regulation and company practice already provide oversight.

Standard at the meeting

Majority of the voting power of the shares present or represented by proxy and entitled to vote thereon

An abstention

counts as a vote against

A broker non-vote

has no effect

Routine for brokers

no

Read from that filing/where the two differ, the filing governs/the board recommendation is context and changes no record

Intent, not a shareholder vote/weights are re-read at the cutoff, and can only fall