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The second shareholder proposal targets reports of alleged labor abuse at Apple’s manufacturing partner Foxconn and asks for the establishment of a company board committee on human rights that would “review the implications of company policies, above and beyond matters of legal compliance, for the human rights of individuals in the US and worldwide, including assessing the impacts of company operations and supply chains on resources and public welfare in host communities.”
The board is also in opposition to this proposal, and argues that the company is already committed to high standards of social responsibility and human rights.
Among the proposals made and recommended by the board to be passed, one wants the elimination of language from the company’s articles of incorporation to make the adoption of majority voting for directors easier. In addition, the board also wants to get rid of “blank check” preferred stock, which essentially means that any future preferred stock would have to be approved by shareholders before being issued.
Another board proposal asks for the establishment of a “par value” of $0.0001 per share for Apple common stock in order to bring down corporate expenses.
Here’s how Apple’s (NASDAQ:AAPL) stock traded on Wednesday:
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