In a filing with the U.S. Securities and Exchange Commission, the shareholder vote totals from Disney’s proxy battle against Nelson Peltz’s Trian Group and Blackwells Capital have been revealed.
What’s Happening:
- During Disney’s 2024 Meeting of the Shareholders, all 12 of Disney's board members have been reelected, with the Trian Group and Blackwells Capital nominees being rejected.
- The new SEC filing has revealed the exact amount of votes each nominee got. Here’s where the nominees from the Trian Group and Blackwells Capital stood:
- Nelson Peltz (Trian Group) – 31%
- Jay Rasulo (Trian Group) – 11.7%
- Craig Hatkoff (Blackwells Capital) – 2%
- Jessica Schell (Blackwells Capital) – 2%
- Leah Solivan (Blackwells Capital) – 2%
- The SEC filing also reveals the vote totals for various shareholder proposals, all of which were not approved, including:
- Shareholder proposal requesting the Board seek shareholder approval for Section 16 officers’ termination payments – 7.3%
- Shareholder proposal requesting a report on political expenditures – 2.3%
- Shareholder proposal requesting a report on gender transitioning compensation and benefits – 2.1%
- Shareholder proposal requesting publication of recipients of charitable contributions – 4.0%
- The Trian Group proposal to repeal each provision or amendment of the Company’s Bylaws that has been adopted by the Board (and not the shareholders of the Company) since November 30th, 2023 – 2.7%
- The Blackwells Group proposal for an advisory vote to cause the Board to increase its size by the number of nominees recommended by the Board at the Annual Meeting that fail to be elected, if any, for failure to receive more votes than a Trian Group Nominee or a Blackwells Group Nominee, and to appoint any and all such nominees recommended by the Board to fill the newly created corresponding vacancies – 2.5%