STRYKER CORPORATION | Political Contributions at STRYKER CORPORATION

Status
AGM passed
AGM date
Previous AGM date
Proposal number
4
Resolution details
Company ticker
SYK
Lead filer
Individual
Resolution ask
Report on or disclose
ESG theme
  • Governance
ESG sub-theme
  • Lobbying / political engagement
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Health Care
Company HQ country
United States
Resolved clause
Resolved: Shareholders request that Stryker Corporation provide a report, updated semiannually, disclosing the Company's:
1. Policies and procedures for making, with corporate funds or assets, contributions and expenditures (direct or indirect) to (a) participate or
intervene in any campaign on behalf of (or in opposition to) any candidate for public office, or (b) influence the general public, or any segment
thereof, with respect to an election or referendum.
2. Monetary and non-monetary contributions and expenditures (direct and indirect) used in the manner described in section 1 above, including:
a. The identity of the recipient as well as the amount paid to each; and
b. The title(s) of the person(s) in the Company responsible for decision-making.
The report shall be presented to the board of directors or relevant board committee and posted on the Company's website within 12 months from the date of the
annual meeting. This proposal does not encompass lobbying spending.
Supporting statement
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

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