Proxy Blog

Broadcom Inc. 

March 10, 2019

The annual proxy for this fabless semiconductor company had the following proposals: 

  1. Proforma votes on directors and the appointment of auditors 
  2. Special vote on board proposal to amend the Employee Share Purchase Plan 

Magni voted as follows: 

  1. For all proforma proposals.
    -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 where the equity has restrictions to align director incentives with long-term value creation. The compensation levels are set using a benchmarking process.
    -Auditors – There appear to be no controversies with the financial statements of the company.
    -“Say-on-pay” – The shareholder engagement and peer group disclosures indicate good governance practices in executive compensation. 
  2. For board proposal. The changes to the stock purchase plan are mostly minor items and generally these changes are consistent with good governance