Proxy Blog

Microsoft Corporation 

November 9, 2020

The annual proxy for this software company had the following proposals: 

  1. Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote 
  2. Shareholder proposal on employee representation on the board 

Magni voted as follows: 

  1. For the proforma proposals.
    Directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors.
    -Auditors  The company meets the criteria in Magni’s policy on auditor ratification.
    -“Say-on-pay” – The disclosures in the proxy meet the criteria in Magni’s policy on the advisory vote. 
  2. Against the shareholder proposals – Generally, a company should have the latitude to suggest director candidates that best meet its interests. The shareholders then get the opportunity to approve (or reject) those candidates. The company receives a relatively high governance score, including in its employee relationships. At this point, Magni does not see the need to require employee representation on the board.