Warrior Met Coal (HCC) announced its AGM results

Key Summary: On Feb 29, 2024, AFL-CIO urged shareholders to back 5 governance proposals, including approval for poison pills and golden parachutes. At the April 25, 2024 AGM, shareholders voted on various proposals, including those related to governance reforms, ultimately deciding to adopt resolutions for poison pill and proxy access provisions while rejecting others aimed at preferred stock amendments, severance agreements, and human rights assessments.

Market Cap: $3 billion | Warrior Met Coal, Inc. produces and exports non-thermal metallurgical coal for the steel industry.

• On February 29, 2024, American Federation of Labor and Congress of Industrial Organizations (the “AFL-CIO”) issued a letter to the shareholders of the company urging them to support five governance proposals, including requiring approval for actions like poison pills and golden parachutes. These changes aim to address underperformance exacerbated by a costly strike in 2021, highlighting the need for improved corporate governance and accountability.

• On March 22, 2024, AFL-CIO filed proxy materials urging shareholders to vote for its proposals.

• On April 15, 2024, AFL-CIO stated that a stockholder proposal regarding freedom of association at Warrior Met Coal, Inc. has been added as Item #9.  AFL-CIO announced that both ISS and Glass Lewis recommend voting in favor of this proposal. Source