John Chevedden, a shareholder of International Business Machines Corporation (IBM), has issued a voluntary submission urging fellow stockholders to vote in favor of Proposal 4 during the upcoming stockholder meeting. The proposal calls for IBM to produce an annual report detailing its lobbying activities, including policies, procedures, payments, and management's decision-making process. Chevedden argues that transparency in corporate political spending is crucial for safeguarding IBM's reputation and stockholder value. He highlights the risks associated with undisclosed 'dark money' spending through trade associations and social welfare groups, as well as the potential misalignment of IBM's trade association lobbying with the company's stated values. Chevedden's submission follows a broader investor campaign for increased disclosure of corporate political...Show More

John Chevedden, a shareholder of International Business Machines Corporation (IBM), has issued a voluntary submission urging fellow stockholders to vote in favor of Proposal 4 during the upcoming stockholder meeting. The proposal calls for IBM to produce an annual report detailing its lobbying activities, including policies, procedures, payments, and management's decision-making process. Chevedden argues that transparency in corporate political spending is crucial for safeguarding IBM's reputation and stockholder value. He highlights the risks associated with undisclosed 'dark money' spending through trade associations and social welfare groups, as well as the potential misalignment of IBM's trade association lobbying with the company's stated values. Chevedden's submission follows a broader investor campaign for increased disclosure of corporate political spending. Despite IBM's significant lobbying expenditures, including $72,668,000 on federal lobbying from 2010 to 2023 and substantial amounts at the state and international levels, the company's current disclosures are deemed inadequate by Chevedden. He points out that nearly half of the stockholders showed support for greater lobbying disclosure in the previous year, and he emphasizes the need for improved transparency to ensure that IBM's lobbying aligns with the best interests of the company and its stockholders.