The annual proxy for this managed care provider had the following proposals:
- Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote
- Board proposal on incentive plan
- Shareholder proposal on political disclosure
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 do not meet the criteria in Magni’s policy on the advisory vote as the company is smaller than the average of the companies in the peer group.
- For board proposal on incentive plan – Stock plans align the interests of the board and management team with the shareholders.
- Against shareholder proposal on political disclosure – This proposal focuses a lot of attention on industry and trade organizations. It is in the shareholders’ interest for the company to be active in such groups. A lot of the activities and funding go to issues unrelated to politics.