shareholder proposal · 2021
Trinity Health at Altria Group
Publish an annual report disclosing lobbying policies, direct, indirect and grassroots lobbying payments and recipients, memberships in organizations that write model legislation, and board oversight of those expenditures.
What happened
Result: Defeated. At Altria's annual meeting on May 20, 2021 the proposal, Proposal 5 on the ballot, drew 394,167,940 votes for and 788,623,913 against, with 9,594,118 abstentions and 340,389,503 broker non-votes. That is about 33 percent of the shares voted for and against.
The proposal was defeated, but by the proponents' own account their dialogue with Altria had already produced changes before the vote: improved disclosure of state-by-state lobbying expenses and more information on senior management's oversight of lobbying and public policy activities. They also record what was still missing, namely a complete list of trade association and advocacy group memberships and the non-deductible lobbying portion of trade association payments.
Who is involved
- Trinity Health filer
- Reynders, McVeigh Capital Management, LLC co-filer
- Sisters of St. Joseph of Carondelet, St. Paul Province co-filer
- Altria company
What this campaign is about
- Strengthen tobacco control Necessary · UN Sustainable Development Goals