Facebook Annual Meeting Set For May 22
Facebook’s 2014 annual meeting will be held Thursday, May 22, at 11 a.m. PT, at the Sofitel San Francisco Bay in Redwood City, Calif., and shareholders will vote on the company’s board of directors, as well as on ratifying the appointment of Ernst & Young as Facebook’s independent registered public accounting firm for the fiscal year ending Dec. 31, and on five other stockholder proposals, the social network revealed in a Schedule 14A filing with the Securities and Exchange Commission.
Facebook’s 2014 annual meeting will be held Thursday, May 22, at 11 a.m. PT, at the Sofitel San Francisco Bay in Redwood City, Calif., and shareholders will vote on the company’s board of directors, as well as on ratifying the appointment of Ernst & Young as Facebook’s independent registered public accounting firm for the fiscal year ending Dec. 31, and on five other stockholder proposals, the social network revealed in a Schedule 14A filing with the Securities and Exchange Commission.
Voting can occur online, by telephone, by mailing the proxy cards that are enclosed with the official notices the company sent to shareholders, or in-person at the meeting, but Facebook cautioned that seating is limited and admission will be on a first-come, first-served basis, with registration starting at 9 a.m. Only shareholders of record of class-A and class-B shares at the close of business March 24 are eligible to vote.
The seven measures to be voted on are:
- The re-election of the company’s current board of directors to serve until the 2015 annual meeting: Marc Andreessen, Erskine Bowles, Susan Desmond-Hellmann, Donald Graham, Reed Hastings, Chief Operating Officer Sheryl Sandberg, Peter Thiel, and Co-Founder and CEO Mark Zuckerberg.
- Ratifying the appointment of Ernst & Young as Facebook’s independent registered public accounting firm for the fiscal year ending Dec. 31.
- A shareholder proposal to alter stockholder voting so that all shares of outstanding stock will be limited to one vote per share,
- A shareholder proposal seeking full disclosure of Facebook’s lobbying efforts.
- A shareholder proposal that Facebook’s board of directors create and implement a policy of corporate values regarding electioneering contribution decisions by the company and fbPAC and requiring reports to shareholders on contributions that fall outside that policy.
- A shareholder proposal that the board of directors issue a report and risk evaluation on whether Facebook’s advertising and privacy policies are sufficient to protect the company’s finances and operations from public concerns about childhood obesity and public and private initiatives to eliminate or restrict food marketing to youth.
- A shareholder proposal that Facebook issue an annual sustainability report describing the company’s short- and long-term responses to environmental, social and governance issues by October.
Facebook said in its schedule 14A that it recommended that shareholders vote for Nos. 1 and 2 and against Nos. 3 through 7.
Readers: How would you vote on the seven measures if you were eligible to do so?
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