Proxy Insight's analysis (page 3) of the most recent N-PX filings revealed this noteworthy voting data (P = Passed/Approved | O = Opposed/Against) for BlackRock, Vanguard, State Street, Fidelity and other major institutional investors on shareholder proposals characterized as among the most contentious: (i) Tesla - Independent Chair; (ii) Sturm Ruger - Gun Violence Report; (iii) Facebook - One Share, One Vote; and (iv) Netflix - Proxy Access:
|
Investor
|
Tesla - Require Independent Chair
|
Sturm Ruger - Report on Gun Violence
|
Facebook - One Share, One Vote
|
Neflix - Adopt Proxy Access
|
|
BlackRock
|
P
|
P
|
P
|
P
|
|
Vanguard Group, Inc.
|
O
|
P
|
P
|
P
|
|
SSgA Funds Management, Inc. (State Street)
|
P
|
P
|
P
|
P
|
|
Fidelity Management & Research Co. (FMR)
|
O
|
N/A
|
O
|
O
|
|
Capital World Investors
|
P
|
O
|
P
|
O
|
|
BNY Mellon
|
P
|
O
|
P
|
P
|
|
JPMorgan Investment Management, Inc.
|
P
|
P
|
P
|
O
|
|
Goldman Sachs Asset Management LP
|
O
|
P
|
P
|
P
|
|
T. Rowe Price Associates, Inc.
|
O
|
P
|
P
|
P
|
|
Wellington Management Company
|
P
|
O
|
P
|
P
|
Notably among management proposals: KPMG's re-appointment at GE, although approved by the four largest asset managers BlackRock, Vanguard, State Street and Fidelity, was opposed by the next four largest - Capital World, BNY Mellon, JPMorgan and Goldman Sachs. Also notable: Notwithstanding a higher success rate of nearly 85% shareholder support on say-on-pay proposals overall compared to last year's 81%, the data show that the support for SoP by most of the largest institutional investors declined year-over-year (significantly in some cases - see Goldman Sachs, for example), as shown in Table 3 of Proxy Insight's report.