Proxy Blog

Digital Realty Trust, Inc.

May 19, 2020

The annual proxy for this real estate investment trust had the following proposals: 

  • Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote 

Magni for and against proforma proposals: 

  • For and against directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors with one exception. Michael Coke is on the board as a legacy of a business deal. The transaction occurred in 2017. He no longer needs to be on the board. Jean Mandeville is also on the board as a legacy of a business deal, though the transaction was recent and his participation on the board is fine, for now. 
  • 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 benchmarking criteria in Magni’s policy on the advisory vote.