At its annual meeting (held today), two Apple shareholder proposals weren’t approved. Also, CEO Tim Cook downplayed a suggestion that the company might issue a special dividend to shareholders with some of the $285 billion in cash that the company is now able to bring back from overseas.
A proxy access measure sought reconsideration of the company’s rules for shareholder nomination of directors, that currently say a group of no more than 20 shareholders have to hold a 3% stake to nominate. That measure failed with 67.8% against. Meanwhile, a call for a human rights committee that would report its oversight to the public failed with 94.4% opposed.
Shareholders did approve four company-proposed measures, including a required “say on pay” vote for executive compensation.
