Western Union 2013 Annual Report Download - page 98

The Western Union Company – Proxy Statement | 80
Proposal 5 PROXY STATEMENT
NOTICE OF 2014 ANNUAL MEETING OF STOCKHOLDERS AND PROXY STATEMENT
Under federal law, all contributions by the Western Union Political Action Committee, the sole political action
committee affiliated with the Company, are required to be reported and a list of such contributions is publicly available
at the website of the United States Federal Election Commission. Contributions made directly by the Company are
most frequently made to various state-level candidates and representatives and the Company believes that those
persons generally publicly disclose such contributions, as required by state law. As such, we believe that this proposal
is duplicative and unnecessary, as a comprehensive system of reporting and accountability for political contributions
already exists. Federal law prohibits corporations from contributing corporate treasury funds to federal candidates or
federal campaign committees.
We believe that participating in the political process in a transparent manner is key to good governance and
an important way to enhance stockholder value and promote healthy corporate citizenship. We do not believe,
however, that implementing a semiannual report on our political activity would increase stockholder value or
provide stockholders with any more meaningful information than is already available. If adopted, the proposal would
apply only to Western Union and to no other company and would cause Western Union to incur undue cost and
administrative burden, as well as potential competitive harm, without commensurate benefit to our stockholders.
Required Vote; Recommendation Only
The affirmative vote of the holders of a majority of shares of the Company’s Common Stock present in person or
represented by proxy at the meeting and entitled to vote on the subject matter is required to approve this Proposal 5.
Stockholders should be aware that this stockholder proposal is simply a request that the Board take the action
stated in the proposal. Approval of this proposal may not result in the requested action being taken by the Board of
Directors, and therefore, its approval would not effectuate the actions requested by the proposal.
THE BOARD RECOMMENDS THAT YOU VOTE AGAINST PROPOSAL 5.