A Western Union Co. shareholder has proposed that the company present a semiannual report disclosing guidelines for monetary and non-monetary political contributions.
The proposal calls for the report to disclose the identities of the recipients of contributions, as well as the titles of the employees responsible for deciding to make contributions. The report should be made available to the board or relevant board committees within 12 months of the company's annual meeting, according to the proposal.
Publicly available records show that Western Union contributed at least $669,000 in corporate funds to various campaigns since the 2004 election cycle, the proposal stated.
A separate proposal related to stockholder action by written consent would allow shareholders to take up issues outside the company's normal annual meeting cycle. Similar proposals have received majority shareholder support at other companies over the past year, including Allstate Corp. and Sprint Corp., Western Union said in a filing.
A third proposal requests that Western Union issue a public report detailing the risks posed to the company by what the proposal called discriminatory state policies against LGBT people. The proposal pointed to company policies and documents that state it has "zero tolerance" for discrimination or harassment based on sexual orientation or gender identity.
The Western Union board has recommended that shareholders vote against all three proposals. Shareholders are scheduled to vote on the proposals at the May 11 annual meeting.