| Industry |
Software |
| Sector |
Information Technology |
| Filed By |
Boston Common Asset Management, LLC
|
| Votes |
29.94%
|
| Status |
Vote |
| View Memo |
|
Organization: Oracle Corporation
Year: 2015
Whereas: Whereas: Corporate lobbying exposes our company to risks that could adversely affect the company's stated goals, objectives, and ultimately stockholder value, and Whereas: We rely on the information provided by our company and, therefore, have a strong interest in full disclosure of our company's lobbying to evaluate whether it is consistent with our company's expressed goals and in the best interests of stockholders and long-term value. Resolved, the stockholders of Oracle Corporation ('Oracle') request that the Board authorize 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 Oracle 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. Oracle's membership in and payments to any tax-exempt organization that writes and endorses model legislation. 4. Description of management's and the Board's decision making process and oversight for making payments described in sections 2 and 3 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 Oracle 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 Audit Committee or other relevant oversight committees and posted on Oracle's website.
Resolved: Resolved: The stockholders of Oracle Corporation ('Oracle') request that the Board authorize 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 Oracle 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. Oracle's membership in and payments to any tax-exempt organization that writes and endorses model legislation. 4. Description of management's and the Board's decision making process and oversight for making payments described in sections 2 and 3 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 Oracle 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 Audit Committee or other relevant oversight committees and posted on Oracle's website.
Supporting Statement:Supporting Statement: As stockholders, we encourage transparency and accountability in our company's use of corporate funds to influence legislation and regulation. Oracle is a listed as a member of the Business Roundtable, which spent more than $27 million on lobbying for 2013 and 2014. Oracle does not disclose its memberships in, or payments to, trade associations, or the portions of such amounts used for lobbying. Oracle spent $13.94 million in 2013 and 2014 on federal lobbying (opensecrets.org). These figures do not include lobbying expenditures to influence legislation in states, where Oracle also lobbies but disclosure is uneven or absent. For example, Oracle spent $222,000 lobbying in California for 2013 (http://cal-access.ss.ca.gov/). Oracle's lobbying in Oregon has drawn media scrutiny ('Oracle Pressures Oregon in Apparent Effort to Settle Lawsuits,'The Oregonian, Feb. 26, 2015). And Oracle does not disclose membership in or contributions to tax-exempt organizations that write and endorse model legislation, such as the American Legislative Exchange Council.