Proxy Blog

Carmax, Inc. 

May 28, 2020

The annual proxy for the nationwide used car dealer had the following proposals: 

  1. Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote 
  2. Board proposal on stock incentive plan 

Magni voted as follows: 

  1. 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 meet the criteria in Magni’s policy on the advisory vote. 
  2. For board proposal on stock incentive plan  The proposal meets the criteria in Magni’s policy on incentive plans