The annual proxy for this construction equipment manufacturer had the following proposals:
- Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote
- Shareholder proposals on lobbying, independent chairman, and written consent
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 did not meet the engagement or benchmarking criteria in Magni’s policy on the advisory vote.
- For and against shareholder proposals.
–Against lobbying – The proposal does not meet the criteria in Magni’s policy on lobbying.
-For independent chairman – Per the Magni position paper, Magni routinely votes for these proposals.
-Against written consent – Per the Magni position paper, Magni routinely votes against these proposals.