Proposals for the 2014 Proxy Season
This webpage contains information about precatory declassification proposals that investors that worked with the SRP clinic submitted for voting at the annual meetings during the 2014 proxy season of 31 S&P 500 and Fortune 500 companies with classified boards. The proposals urge repeal of the companies’ classified boards and a move to annual elections, which are widely viewed as corporate governance best practice.
The SRP clinic and investors that worked with the SRP clinic engaged with companies receiving shareholder declassification proposals, and some of the companies receiving shareholder proposals agreed to take steps necessary to declassify their boards.
The five institutional investors with which the SRP clinic worked in connection with these proposals are the Illinois State Board of Investment (ISBI), the Nathan Cummings Foundation (NCF), the North Carolina Department of State Treasurer (NCDST), the Ohio Public Employees Retirement System (OPERS) and the State Board of Administration of Florida (SBA).
The table below lists each of the S&P 500 and Fortune 500 companies to which proposals were submitted for annual meetings during the 2014 proxy season, together with the proponent for each proposal.
| Company | Proponent |
| Aecom Technology Corporation (ACM) | ISBI |
| Agilent Technologies, Inc. (A) | NCF |
| Air Products and Chemicals, Inc. (APD) | NCF |
| Airgas, Inc. (ARG) | ISBI |
| Akamai Technologies, Inc. (AKAM) | ISBI |
| Ashland Inc. (ASH) | ISBI |
| BorgWarner Inc. (BWA) | NCF |
| Costco Wholesale Corporation (COST) | NCF |
| Foot Locker, Inc. (FL) | NCDST |
| Hertz Global Holdings, Inc. (HTZ) | ISBI |
| Huntington Ingalls Industries, Inc. (HII) | ISBI |
| Huntsman Corporation (HUN) | SBA |
| Insight Enterprises, Inc. (NSIT) | ISBI |
| Jacobs Engineering Group Inc. (JEC) | NCF |
| Jarden Corporation (JAH) | NCDST |
| Kansas City Southern (KSU) | ISBI |
| Kellogg Company (K) | NCDST |
| NCR Corporation (NCR) | SBA |
| Netflix, Inc. (NFLX) | SBA |
| Phillips 66 (PSX) | NCF |
| QEP Resources, Inc. (QEP) | ISBI |
| Rockwell Collins, Inc. (COL) | NCF |
| SCANA Corporation (SCG) | NCF |
| SPX Corporation (SPW) | SBA |
| St. Jude Medical Inc. (STJ) | ISBI |
| Teradata Corporation (TDC) | NCDST |
| United States Steel Corporation (X) | NCDST |
| Varian Medical Systems, Inc. (VAR) | NCF |
| Vornado Realty Trust (VNO) | ISBI |
| WESCO International, Inc. (WCC) | SBA |
| WPX Energy, Inc. (WPX) | OPERS |