Proxy Blog

Caterpillar Inc.

May 16, 2020

The annual proxy for this construction equipment manufacturer had the following proposals: 

  1. Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote 
  2. Shareholder proposals on lobbying, independent chairman, and written consent 

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 did not meet the engagement or benchmarking criteria in Magni’s policy on the advisory vote. 
  2. 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.