Summary by Moomoo AI
Arjuna Capital has submitted a proxy proposal for Procter & Gamble's 2024 Annual Meeting, urging shareholders to vote 'FOR' Item 4, which requests the company to report on median and adjusted pay gaps across race and gender. The proposal highlights the lack of transparency in P&G's current pay equity reporting and points out that P&G does not disclose median racial or gender pay gap data, which is considered a best practice. Arjuna Capital argues that disclosing and acting to narrow pay gaps can lead to significant company performance benefits, including greater workforce diversity and improved company performance. The proposal also notes that P&G lags behind its peers in disclosing racial and gender pay equity, with 25 percent of the largest U.S. consumer companies already committed to such disclosures. The proposal is made voluntarily by Arjuna Capital in the interest of public disclosure and consideration of these important issues, despite not being required under Rule 14a-6(g)(1) of the Securities Exchange Act of 1934.
