Long-term shareholders of Knight-Swift support transparency and accountability in corporate electoral spending. 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 warns “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.” Further, a recent poll of retail shareholders by Mason-Dixon Polling & Research found that 83% of respondents said they would have more confidence investing in corporations that have adopted reforms that provide for transparency and accountability in political spending.
Knight-Swift scored a dismal 0.0% on a scale of 100 in the 2024 CPA-Zicklin Index of Corporate Political Disclosure and Accountability: https://www.politicalaccountability.net/wp-content/uploads/2024/10/2024-CPA-Zicklin-Index.pdf.
This proposal asks Knight-Swift to disclose all of its electoral spending, including payments to Trade Associations and 501(c)(4) social welfare organizations, which may be used for electoral purposes — and are otherwise undisclosed. This would bring our Company in line with a growing number of leading companies, including J.B. Hunt Transport Services, Inc., CSX Corporation, and Norfolk Southern Corporation, which present this information on their websites.
Without knowing the recipients of our company’s political dollars Knight-Swift directors and shareholders cannot sufficiently assess whether our company’s election-related spending aligns or conflicts with its policies on climate change and sustainability, or other areas of growing concern. Improved Knight-Swift political spending disclosure will protect the reputation of Knight-Swift and preserve shareholder value.”