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Division of Investment - Proxy Voting

Proxy Voting Overview

Publicly traded companies report their activities to shareholders through annual meetings. Shareholders receive a proxy ballot in advance of the meeting along with an information booklet called a proxy statement describing the issues to be voted on, such as electing directors to the board, approving a merger or acquisition, and approving a stock compensation plan. Investors who own shares as of the company's record date may vote at the meetings. Rather than physically attending the shareholder meeting, most investors vote by proxy. Proxy ballots may contain both management and shareholder proposals.

Proxy Voting Policy

The State Investment Council maintains oversight of its Proxy Voting Policy, which is carried out by the Division's Corporate Governance Officer. The policy provides an overview of the Council's general philosophy and approach to the most important and commonly presented proxy voting items. The Proxy Voting Policy should be read in conjunction with the SIC's Environmental, Social, and Governance (ESG) Policy. The Division votes proxies in a manner consistent with these principles and in the interest of pension fund beneficiaries.

Last Updated: Thursday, 03/23/23