Shareholders at Dell Inc., Round Rock, Texas, received mixed recommendations from three proxy-voting advisory firms on separate proposals sponsored by the $850 million American Federation of State, County and Municipal Employees Pension Plan, and the $220 million AFL-CIO Reserve Fund, both in Washington.
Proxy Governance and Glass Lewis recommend a vote in favor of the AFSCME fund proposal, which calls for the company to reimburse expenses in connection with nominating candidates in a contested election of directors. RiskMetrics recommends a vote against it.
But RiskMetrics and Glass Lewis urge support for the AFL-CIO fund proposal, which calls for an advisory vote on executive compensation. Proxy Governance recommends a vote against the say-on-pay proposal.
Dell’s board opposes both proposals, according to a company statement.
Dell’s annual meeting is July 18.
