Friends Fiduciary Seeks Shareholder Support For Its Political Spending Proposal at DaVita

As part of an ongoing engagement with DaVita, FFC has again filed a shareholder proposal with DaVita asking for more transparency around the company’s political spending. This largely stems from investor concerns with DaVita’s indirect political spending through 501(c)(4) social welfare groups that lacks accountability and could present significant reputational risk. In a letter to shareholders, called an exempt solicitation, FFC explains our concerns and rationale for supporting the proposal at DaVita.

The institutional proxy service, ISS, has recommended support for the proposal. Here is their analysis.