FirstEnergy Corporation | Lobbying Expenditures Disclosure at FirstEnergy Corporation

Status
Withdrawn
AGM date
Previous AGM date
Proposal number
4
Resolution details
Company ticker
FE
Lead filer
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
Utilities
Company HQ country
United States
Resolved clause
Resolved, shareholders request the preparation of a report, updated annually, disclosing: 1.    Company policy and procedures governing lobbying, both direct and indirect, and grassroots lobbying communications. 2.    Payments by FirstEnergy used for (a) direct or indirect lobbying or (b) grassroots lobbying communications, in each case including the amount of the payment and the recipient. 3.    FirstEnergy membership in and payments to any tax-exempt organization that writes and endorses model legislation. 4.    Description of management's decision-making process and the Board's oversight for making payments described in section 2 above.
Supporting statement
RESOLVED , shareholders request the preparation of a report, updated annually, disclosing: 1.    Company policy and procedures governing lobbying, both direct and indirect, and grassroots lobbying communications. 2.    Payments by FirstEnergy used for (a) direct or indirect lobbying or (b) grassroots lobbying communications, in each case including the amount of the payment and the recipient. 3.    FirstEnergy membership in and payments to any tax-exempt organization that writes and endorses model legislation. 4.    Description of management's decision-making process and the Board's oversight for making payments described in section 2 above. For purposes of this proposal, a "grassroots lobbying communication" is a communication directed to the general public that (a) refers to specific legislation or regulation, (b) reflects a view on the legislation or regulation and (c) encourages the recipient of the communication to take action with respect to the legislation or regulation. "Indirect lobbying" is lobbying engaged in by a trade association or other organization of which FirstEnergy is a member.  Both "direct and indirect lobbying" and "grassroots lobbying communications" include efforts at the local, state and federal levels.   The report shall be presented to the Committee on Directors and Corporate Governance and posted on the FirstEnergy website.   Supporting Statement  Full disclosure of FirstEnergy lobbying activities and expenditures is needed to assess whether FirstEnergy lobbying is consistent with its expressed goals and stockholder interests. FirstEnergy may have spent tens of millions of dollars from 2010 - 2023 on federal lobbying.  FirstEnergy also lobbies at the state level and may have spent $ Millions on state lobbying from 2010 - 2023.  Companies like FirstEnergy can also give unlimited amounts to third party groups that spend millions on lobbying and undisclosed grassroots activity. And there can also be payments to social welfare groups that present reputational risk when such lobbying contradicts FirstEnergy public policy positions.  Improved FirstEnergy lobbying disclosure will protect the reputation of FirstEnergy and preserve shareholder value. 

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