As You Sow, an advocacy group, has submitted a shareholder proposal for DocuSign Inc.'s annual meeting scheduled for May 29, 2024, urging a 'Yes' vote on Item #4. The proposal requests that DocuSign provide an annual report on the effectiveness of its diversity, equity, and inclusion (DEI) efforts, with transparency on hiring, retention, and promotion metrics by gender, race, and ethnicity. The supporting statement emphasizes the need for quantitative data to assess and compare DEI programs' effectiveness. Research cited in the proposal indicates a positive correlation between management diversity and corporate financial performance, particularly in the IT sector. DocuSign is reported to be lagging behind its peers in DEI disclosures, which could lead to competitive and legal risks. The proposal argues that...Show More

As You Sow, an advocacy group, has submitted a shareholder proposal for DocuSign Inc.'s annual meeting scheduled for May 29, 2024, urging a 'Yes' vote on Item #4. The proposal requests that DocuSign provide an annual report on the effectiveness of its diversity, equity, and inclusion (DEI) efforts, with transparency on hiring, retention, and promotion metrics by gender, race, and ethnicity. The supporting statement emphasizes the need for quantitative data to assess and compare DEI programs' effectiveness. Research cited in the proposal indicates a positive correlation between management diversity and corporate financial performance, particularly in the IT sector. DocuSign is reported to be lagging behind its peers in DEI disclosures, which could lead to competitive and legal risks. The proposal argues that additional disclosure is necessary for investors to understand the company's human capital diversity benefits and to assess potential legal liabilities and reputational damage from ineffective DEI policies. The Board of DocuSign has opposed the proposal, suggesting it would be an inefficient use of resources serving only a small group of shareholders. However, As You Sow contends that the requested data could be included in existing sustainability reports or online communications without the need for a separate report.