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PayPal shareholders vote down 3 stockholder proposals

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PayPal shareholders vote down 3 stockholder proposals

PayPal Holdings Inc. shareholders rejected three stockholder proposals at their annual meeting held May 23.

The proposals were about stockholder proxy access enhancement, political transparency, and human and indigenous peoples' rights.

The company's board previously asked shareholders to vote against all three proposals.

On the proposal regarding stockholder proxy access enhancement, the board said the company has already implemented a "progressive proxy access framework" for its stockholders aligned with current best practices.

Also, the board recommended the rejection of the proposal regarding political transparency, noting that "extensive laws and regulations" govern the company's political contributions and lobbying activities.

In connection with the proposal about human and indigenous peoples' rights, the board said that formally amending corporate governance documents is not an effective or appropriate way to address human rights. It emphasized the company's commitment to the "highest standards of social responsibility and human rights" in its operations.