Hologic, Inc. | Simple Majority Vote at Hologic, Inc.

Status
84.82% votes in favour
AGM date
Previous AGM date
Proposal number
4
Resolution details
Company ticker
HO1
Lead filer
Individual
Resolution ask
Adopt or amend a policy
ESG theme
  • Governance
ESG sub-theme
  • Shareholder rights
Type of vote
Shareholder proposal
Filer type
Shareholder
Company HQ country
United States
Resolved clause
Shareholders request that the Board of Directors take the steps necessary so that each voting requirement in the charter
and bylaws (that is explicit or implicit due to default to state law) that calls for a greater than simple majority vote be
replaced by a requirement for a majority of the votes cast for and against such proposals, or a simple majority in compliance
with applicable laws.
Supporting statement
Shareholders request that the Board of Directors take the steps necessary so that each voting requirement in the charter
and bylaws (that is explicit or implicit due to default to state law) that calls for a greater than simple majority vote be
replaced by a requirement for a majority of the votes cast for and against such proposals, or a simple majority in compliance
with applicable laws. This means the closest standard to a majority of the votes cast for and against such proposals
consistent with applicable laws. This includes making the necessary changes in plain English.
Shareholders are willing to pay a premium for shares of companies that have excellent corporate governance.
Supermajority voting requirements have been found to be one of 6 entrenching mechanisms that are negatively related to
company performance according to ‘‘What Matters in Corporate Governance’’ by Lucien Bebchuk, Alma Cohen and
Allen Ferrell of the Harvard Law School. Supermajority requirements like those at our Company can be used to block
corporate governance improvements supported by most shareowners but opposed by a status quo management.
This proposal topic won from 74% to 88% support at Weyerhaeuser, Alcoa, Waste Management, Goldman Sachs,
FirstEnergy and Macy's. These votes would have been higher than 74% to 88% if more shareholders had access to
independent proxy voting advice. This proposal topic also received overwhelming 98%-support each at the 2023 annual
meetings of American Airlines (AAL) and The Carlyle Group (CG).

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