NorthStar Asset Management, Inc. has submitted a shareholder proposal for Adobe Inc.'s upcoming Annual Meeting of Stockholders on April 17th, 2024, urging a vote 'FOR' proposal #6. The proposal requests Adobe to prepare a report analyzing the alignment of its hiring practices with its diversity commitments, specifically regarding the employment of individuals with arrest or incarceration records. NorthStar highlights the potential for Adobe to expand its workforce and meet diversity, equity, and inclusion (DEI) goals by hiring from this underserved population. The proposal argues that Fair Chance employment practices can mitigate business risks associated with skilled worker shortages and reputational damage from unmet DEI commitments. It also points out the economic and societal benefits of including the nearly 70 million Americans with criminal...Show More

NorthStar Asset Management, Inc. has submitted a shareholder proposal for Adobe Inc.'s upcoming Annual Meeting of Stockholders on April 17th, 2024, urging a vote 'FOR' proposal #6. The proposal requests Adobe to prepare a report analyzing the alignment of its hiring practices with its diversity commitments, specifically regarding the employment of individuals with arrest or incarceration records. NorthStar highlights the potential for Adobe to expand its workforce and meet diversity, equity, and inclusion (DEI) goals by hiring from this underserved population. The proposal argues that Fair Chance employment practices can mitigate business risks associated with skilled worker shortages and reputational damage from unmet DEI commitments. It also points out the economic and societal benefits of including the nearly 70 million Americans with criminal records in the workforce. Adobe has acknowledged the importance of diversity with its 'Adobe for All' initiative but has been critiqued for lacking transparency in its current hiring disclosures. The proposal emphasizes that Fair Chance hiring can increase workforce diversity and suggests that tech companies like Adobe can benefit from this untapped talent pool to address the skilled labor shortage in the tech sector.