Proxy Blog

Motorola Solutions, Inc. 

April 13, 2020

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

  1. Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote 
  2. Shareholder proposal on political disclosure 

Magni voted as follows: 

  1. For and against proforma proposals.
    -For directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation of directors is disclosed with a meaningful portion in equity where the equity has restrictions to align director incentives with long-term value creation. 
    -For auditors – There appear to be no controversies with the financial statements of the company.
    -Against say-on-pay” Advisory Vote – The disclosure regarding the shareholder engagement is acceptable. Though the peer group was disclosed, along with some high-level criteria, the company was not benchmarked against the group. 
  2. Against the shareholder proposal on political disclosure – Magni routinely votes against these sort of proposals as most of the proposals are generic without citing deficiencies of the company and most companies do a good job of disclosing relevant information. This company has had a history of weaker disclosure. In the past year, the disclosure has improved. Magni will vote against the proposal, though continued improvement is expected.