The annual proxy for this manufacturer of heating, ventilating and air conditioning systems had the following proposals:
- Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote
- Board proposals on frequency of “say-on-pay” advisory votes
Magni voted as follows:
- For and against proforma proposals.
–For directors – The disclosures 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 advisory vote – The disclosures in the proxy did not meet the criteria in Magni’s policy on the advisory vote.
- For annual votes on the board proposal regarding frequency of “say on pay” votes – Annual feedback from shareholders is good.