The Walt Disney Co. was unable to win the SEC’s support to discard a shareholder proposal that encourages the company to disclose charitable contributions.
The entertainment giant sought to exclude a proposal from investor Thomas Strobhar from consideration at its annual meeting this year, saying Securities and Exchange Commission rules against micromanaging should allow it to do so. The proposal urges Disney to consider publishing on its website any recipient of at least $10,000 in charitable gifts from the company.
SEC staffers said on Thursday they disagreed. Companies regularly seek the SEC’s guidance on whether they can stop votes ...
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