NorthStar Asset Management, Inc.® takes corporate accountability seriously. On behalf of clients, we actively vote all shares and report to clients how we have cast these votes in an annual shareholder proxy guide. 

SHAREHOLDER RESOLUTIONS
In addition, we file shareholder resolutions that bring issues before all shareholders for a vote. In the past, we have sponsored resolutions on issues of limiting executive compensation, improving corporate environmental policies, and protecting workers from discriminatory practices.

NorthStar Asset Management's
Northstar Shareholder Resolutions FY 2006
Company Issue Results

Emerson Electric

 In seeking protections for gay and lesbian employees, the resolution asked the Company to add the words “sexual orientation” to its non-discrimination policy. NorthStar co-filed this resolution with Domini Social Investments. After five years of wrangling and with a new CEO in place, the Company changed its policy
Exxon Mobil NorthStar’s resolution asked the Company to review its executive compensation policy and report back to the shareholders. The resolutions received 12.9% of the vote, a significant tally for a first time resolution. Given the high vote count, SEC rules allow us to automatically resubmit this resolution.
General Mills Our resolution asked the company to disclose its political contributions to the shareholders. Additionally, we asked the Board of Directors to oversee all political contributions. We worked with the Center for Political Accountability, a DC-based nonpartisan group seeking full disclosure of political contributions by companies. The Company agreed to change its political disclosure policy as requested before the shareholder vote. NorthStar withdrew the resolution.
Hain Celestial NorthStar’s resolution asked the Company to review its executive compensation policy and report back to the shareholders. The Company agreed to undertake a review and answer the questions our resolution posed. Unfortunately, the Company will only release the results of its study to shareholders who agree to sign a non-disclosure agreement.
Home Depot A coalition of investors once again asked the Company to reveal its Equal Employment Opportunity data. Other companies do so freely. NorthStar co-filed this resolution with Walden Asset Management. The resolution received 36% of the vote, reflecting shareholders’concern for greater corporate transparency.
Sherwin Williams In seeking protections for gay and lesbian employees , the resolution asked the Company to add the words “sexual orientation” to its non-discrimination policy The Company actually had a policy that protected gay and lesbian employees but it wasn’t being publicized. The Company agreed to quickly remedy that. NorthStar withdrew the resolution.
Staples Our resolution asked the company to disclose its political contributions to the shareholders. Additionally, we asked the Board of Directors to oversee all political contributions. We worked with the Center for Political Accountability, a DC-based nonpartisan group seeking full disclosure of political contributions by companies. The Company agreed to change its political disclosure policy as requested before the shareholder vote. NorthStar withdrew the resolution.
Wal Mart Our resolution asked the company to disclose the race and gender of those employees who receive equity compensation, a.k.a.stock options. We partnered with Responsible Wealth, a Boston-based national network of businesspeople, investors and affluent Americans who are concerned about deepening economic inequality and are working for widespread prosperity We received 10.1% of the vote, enough votes to automatically resubmit the resolution next year.
Wells Fargo Our resolution asked the company to explain the disparity in the costs of loans between racial and ethnic groups. We partnered with Responsible Wealth, a Boston-based national network of businesspeople, investors and affluent Americans who are concerned about deepening economic inequality and are working for widespread prosperity We received 7.2% of the vote, enough votes to automatically resubmit the resolution next year.

Percentages reflect the percentage of affirmative votes for the resolution. The Securities & Exchange Commission (SEC) requires a minimum threshold in order to submit the resolution again the following year:
1 st year the resolution is submitted, 3% affirmative vote is required.
2 nd year the resolution is submitted, 5% affirmative vote is required.
3 rd year (+) the resolution is submitted, 10% affirmative vote is required.

 

   

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