UPS shareholders reject lobby proposal - Yahoo
Shareholders of United Parcel Service Co. rejected proposals at the annual meeting for increased disclosure of lobbying activities and a change in the voting power of preferred stock.
The voting proposal would have reduced the power of Class A stock to one vote per share from the current 10 votes. About 75 percent of voting power is held by Class A owners, including officers and former employees.
Shareholders of United Parcel Service Co. rejected proposals at the annual meeting for increased disclosure of lobbying activities and a change in the voting power of preferred stock.
The voting proposal would have reduced the power of Class A stock to one vote per share from the current 10 votes. About 75 percent of voting power is held by Class A owners, including officers and former employees.
