Linde PLC 

The annual proxy for this chemical company had the following proposals:  Proforma proposals on directors, appointment of auditors, and advisory vote on compensation  Proforma European proposals  Magni voted as follows  For and against proforma proposals: –For directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors. -For auditors – The company meets the criteria in Magni’s policy on auditor ratification. -Against “say-on-pay” – The disclosures in the proxy do not […]

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Howmet Aerospace Inc.

The annual proxy for this aerospace company had the following proposals:  Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote  Shareholder proposal on threshold for shareholder meetings  Magni voted as follows:  For and against proforma proposals. –For directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors. -For auditors – The company meets the criteria in Magni’s policy on auditor ratification. -Against “say-on-pay” – The disclosures in the proxy do […]

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Carmax, Inc. 

The annual proxy for the nationwide used car dealer had the following proposals:  Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote  Board proposal on stock incentive plan  Magni voted as follows:  For and against proforma proposals. –For directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors. -For auditors – The company meets the criteria in Magni’s policy on auditor ratification. -Against “say-on-pay” – The disclosures in the proxy do […]

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The Charles Schwab Corporation Acquisition of TD Ameritrade Holding Corporation

The proxy had three proposals related to the acquisition:  Approve issuing shares  Authorize additional shares  Authorize Board to adjourn meeting if more shares are required to approve the first two proposals  Magni voted for the proposals on the proxy.   Both McKinsey and Bain have done studies that show most large acquisitions destroy shareholder value. That said, acquisitions where the primary driver is consolidation […]

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Mastercard Incorporated 

The annual proxy for the credit and debit card provider had the following proposals:  Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote  Magni for proforma proposals:  Directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors.  Auditors – The company meets the criteria in Magni’s policy on auditor ratification.  “Say-on-pay” – The disclosures in the proxy […]

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Delta Air Lines, Inc.

The annual proxy for this airline had the following proposals:  Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote  Shareholder proposals on written consent, climate lobbying, political contributions, and sexual harassment  Magni voted as follows:  For and against proforma proposals. –For directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors. -For auditors – The company meets the criteria in Magni’s policy on […]

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Regeneron Pharmaceuticals, Inc.

The annual proxy for this pharmaceutical company had the following proposals:  Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote  Board proposal on incentive plan  Magni voted as follows:  For and against proforma proposals. –For directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors. -For auditors – The company meets the criteria in Magni’s policy on auditor ratification. -Against “say-on-pay” – The disclosures in the […]

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Ingersoll Rand Inc. 

The annual proxy for this manufacturing company had the following proposals:  Proforma votes on directors and appointment of auditors, though no “say on pay” vote  Magni voted against proposals on the proxy.  Against directors – While the disclosures in the proxy meet the literal criteria in Magni’s policy on election of directors, there is a lot of opaqueness that causes Magni to vote against all directors. First, the impact of the recent major transactions (including Gardner Denver) in […]

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Digital Realty Trust, Inc.

The annual proxy for this real estate investment trust had the following proposals:  Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote  Magni for and against proforma proposals:  For and against directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors with one exception. Michael Coke is on the board as a legacy of a business deal. The transaction occurred in 2017. He no longer needs to be […]

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Davita Inc. 

The annual proxy for this managed care provider had the following proposals:  Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote  Board proposal on incentive plan  Shareholder proposal on political disclosure  Magni voted as follows:  For and against proforma proposals. -For directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors. -For auditors – The company meets the criteria in Magni’s policy on auditor ratification. […]

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