Supporting Statement
As a long-term shareholder of Stryker, I support transparency and accountability in corporate electoral spending. This includes any activity considered
intervention in a political campaign under the Internal Revenue Code, such as direct and indirect contributions to political candidates, parties, or organizations,
and independent expenditures or electioneering communications on behalf of federal, state, or local candidates.
A company's reputation, value, and bottom line can be adversely impacted by political spending. The risk is especially serious when giving to trade associations,
Super PACs, 527 committees, and "social welfare" organizations – groups that routinely pass money to or spend on behalf of candidates and political causes
that a company might not otherwise wish to support.
The Conference Board's 2021 "Under a Microscope" report details these risks, recommends the process suggested in this proposal, and warns "a new era of
stakeholder scrutiny, social media, and political polarization has propelled corporate political activity – and the risks that come with it – into the spotlight. Political
activity can pose increasingly significant risks for companies, including the perception that political contributions – and other forms of activity – are at odds with
core company values."
This proposal asks Stryker to disclose all its electoral spending, including payments to trade associations and other tax-exempt organizations which may be
used for electoral purposes – and are otherwise undisclosed. This would bring Stryker's in line with a growing number of leading companies, including Becton,
Dickinson and Company, Bristol-Myers Squibb Company, and Boston Scientific Corp., which present this information on their websites.
Without knowing the recipients of Stryker's political dollars shareholders cannot sufficiently assess whether Stryker's election-related spending aligns or conflicts
with its policies on climate change and sustainability, or other areas of concern. Thus it will be a best practice for Stryker to expand its political spending
disclosure.

Filed by John Chevedden