Proxy Blog

Agilent Technologies, Inc. 

February 12, 2020

The annual proxy for this scientific solutions provider had the following proposals: 

  1. Proforma votes on directors and appointment of auditors 
  2. Board proposal to approve employee stock purchase plan 

Magni voted as follows: 

  1. For and against proforma proposals.
    -For directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation of directors is disclosed with a meaningful portion in equity, though the equity does not have restrictions to align director incentives with long-term value creation. 
    -For auditors – There appear to be no controversies with the financial statements of the company.
    -Against say-on-pay” – The proxy materials disclosed a shareholder engagement program, though the scope of discussion and the level of activity were not disclosed. There was high-level peer group criteria and the peer group was listed, though the company was not benchmarked against the peer group. 
  2. For board proposal on stock purchase plan. Employee purchasing of company shares is a good way to engage the employees in the long-term success of the company.