Crown Holdings | Right To Act By Written Consent at Crown Holdings

Status
Filed
AGM date
Previous AGM date
Resolution details
Lead filer
John Chevedden
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
RESOLVED : Shareholders request that the board of directors take the necessary steps to permit written consent by the shareholders entitled to cast the minimum number of votes that would be necessary to authorize an action at a meeting at which all shareholders entitled to vote thereon were present and voting (without any unnecessary restriction based on length of stock ownership or the method by which CCK shareholders hold their CCK shares). This includes shareholder ability to initiate any appropriate topic for written consent.
Supporting statement
It is more important to enable Crown Holdings shareholders to have the right to act by written consent at CCK because CCK is incorporated in Pennsylvania which has an outrageously high requirement of assembling at least 25% of shares in order to call for a special meeting. Shareholders know that 25% is too high because hundreds of non Pennsylvania companies permit 10% of shares to call for a special shareholder meeting and special shareholder meetings are almost never called for at the companies that have the much lower 10% figure. Now is a good time for this proposal due to the long-term underperformance of CCK stock. CCK stock was at $130 in 2022 and at only $96 in late 2025 despite a robust stock market. If CCK directors and management know that CCK shareholders can act by written consent they will have a greater incentive to perform better. Shareholder proposals obtain good support at CCK yet is unclear how CCK responds to these impressive votes. For instance the Political Spending Disclosure proposal received 52% support at the 2025 CCK annual meeting. The 2024 CCK shareholder proposal for a Shareholder Vote on Excessive Golden Parachutes received 44% support. As of late 2025 CCK has not notified the proponent of these proposals whether CCK will take any action in response to these impressive CCK shareholder votes.

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