If you are an investor, you probably own shares in Lam Research Corporation, a hardware developer in the S&P500. On November 8, you can demand that they disclose the results of their annual diversity report and encourage them to devote resources to creating and maintaining a diverse workforce.
Everyday investors have the right to tell the companies they own what to do on important issues from diversity to climate change, but it’s historically been difficult and time consuming to vote on shareholder resolutions. Thanks to new technologies, it’s now easier than ever to vote your shares and amplify your voice. Learn more in our shareholder activism series.
Shareholders are asking Lam Research to publicly share their yearly EEO-1 report. An EEO-1 report is a comprehensive breakdown of a company’s workforce by race and gender according to 10 employment categories, like managers, technicians, sales workers and operatives. All companies with over 100 employees have to file EEO-1 reports with the Equal Employment Office on a yearly basis. Shareholders want Lam to share the results of this internal analysis either on the company website or in yearly corporate social responsibility reports. The Lam Research board of directors, claiming that the data from the EEO-1 document is reductive and not representative of the company’s diversity efforts, recommends a vote against this resolution.
What do you think?
— OpenInvest (@openinvestco) November 7, 2017