Summary by Futu AI
Berkshire Hathaway Inc. faces a shareholder proposal from As You Sow on behalf of Myra K. Young, requesting the company to report annually on the effectiveness of its diversity, equity, and inclusion (DEI) efforts. The proposal, identified as Item #4, will be voted on at the annual meeting scheduled for May 4, 2024. It calls for Berkshire to provide quantitative metrics on hiring, retention, and promotion of employees by gender, race, and ethnicity to enhance transparency and allow investors to assess the effectiveness of the company's DEI programs. Studies and research cited in the supporting documents suggest a strong correlation between management diversity and corporate financial performance, indicating that Berkshire's current DEI disclosures lag behind those of its peers. The proposal emphasizes the need for more detailed data to understand the company's human capital management and to compare it with industry standards. The shareholder resolution does not seek to change Berkshire's DEI policies or practices but aims for better disclosure of quantitative DEI data.