Proxy Season Update: Walmart

2014 Annual Meeting: 8:00 AM EDT, Friday, June 6, 2014

Bud Walton Arena, University of Arkansas Campus, Fayetteville, AR 72701

Walmart has one pending ESG shareholder proposal in 2014.

    • This resolution from Zevin Asset Management asks for annual reports on policy, payments, memberships in groups that write model legislation, information on how these payments occur, and how management and the board of directors monitor them. The proposal says the reports should include:

      1. Company policy and procedures governing lobbying, both direct and indirect, and grassroots lobbying communications.

      2. Payments by Walmart used for (a) direct or indirect lobbying or (b) grassroots lobbying communications, in each case including the amount of the payment and the recipient.

      3. Walmart’s membership in and payments to any tax-exempt organization that writes and endorses model legislation.

      4. Description of management’s and the Board’s decision making process and oversight for making payments described in section 2 and 3 above.

      For purposes of this proposal, a “grassroots lobbying communication” is a communication directed to the general public that (a) refers to specific legislation or regulation, (b) reflects a view on the legislation or regulation and (c) encourages the recipient of the communication to take action with respect to the legislation or regulation. “Indirect lobbying” is lobbying engaged in by a trade association or other organization of which Walmart is a member.

      Both “direct and indirect lobbying” and “grassroots lobbying communications” include efforts at the local, state and federal levels.

      The report shall be presented to the Audit Committee or other relevant oversight committees and posted on Walmart’s website.

Download Proxy Preview 2014 to find more lobbying resolutions.