The Shareholder Commons, a non-profit organization, has submitted a shareholder proposal urging Walmart Inc. to establish wage policies that ensure workers earn a living wage. The proposal, Item 7, is set to be voted on at Walmart's Annual Meeting on June 5, 2024. The Shareholder Commons argues that Walmart's current average hourly wage is insufficient to meet the basic needs of a single adult without children, even in low-cost areas of the U.S., and significantly below the living wage necessary for a family of four. They contend that Walmart's compensation practices not only harm the economy by exacerbating income inequality but also negatively impact the returns of diversified shareholders. Walmart has opposed the proposal, claiming it provides...Show More

The Shareholder Commons, a non-profit organization, has submitted a shareholder proposal urging Walmart Inc. to establish wage policies that ensure workers earn a living wage. The proposal, Item 7, is set to be voted on at Walmart's Annual Meeting on June 5, 2024. The Shareholder Commons argues that Walmart's current average hourly wage is insufficient to meet the basic needs of a single adult without children, even in low-cost areas of the U.S., and significantly below the living wage necessary for a family of four. They contend that Walmart's compensation practices not only harm the economy by exacerbating income inequality but also negatively impact the returns of diversified shareholders. Walmart has opposed the proposal, claiming it provides strong pay and benefits and creates substantial value for various stakeholders. However, The Shareholder Commons refutes these claims, highlighting the broader economic damage caused by inadequate wages and the resulting inequality. They emphasize the importance of a living wage in fostering a healthy economy, which is crucial for the long-term returns of diversified investment portfolios. The organization has made a voluntary submission to the SEC for public disclosure and consideration of these issues, despite it not being required under Rule 14a-6(g) (1).