Western Union 2015 Annual Report Download - page 88

NOTICE OF 2016 ANNUAL MEETING OF STOCKHOLDERS AND PROXY STATEMENT
70 | The Western Union Company
PROPOSAL 4 STOCKHOLDER PROPOSAL
REGARDING POLITICAL CONTRIBUTIONS
DISCLOSURE
The New York State Common Retirement Fund, 59 Maiden Lane — 30th Floor, New York, NY 10038, owner of more than
$2,000 worth of shares of the Company’s Common Stock, has notified the Company that it intends to present a proposal for
consideration at the Annual Meeting. As required by the Exchange Act, the text of the stockholder proposal and supporting
statement appear as submitted to the Company by the proponent. The Board and the Company accept no responsibility for the
contents of the proposal or the supporting statement.
Resolved, that the shareholders of Western Union (“Company”) hereby request that the Company provide a report,
updated semiannually, disclosing the Company’s:
1. Policies and procedures for making, with corporate funds or assets, contributions and expenditures (direct or
indirect) to (a) participate or intervene in any political campaign on behalf of (or in opposition to) any candidate for
public office, or (b) influence the general public, or any segment thereof, with respect to an election or referendum.
2. Monetary and non-monetary contributions and expenditures (direct and indirect) used in the manner described in
section 1 above, including:
a. The identity of the recipient as well as the amount paid to each; and
b. The title(s) of the person(s) in the Company responsible for decision-making.
The report shall be presented to the board of directors or relevant board committee and posted on the Company’s website
within 12 months from the date of the annual meeting.
Supporting Statement
Last year, 41.5 percent of voting shareholders supported this resolution.
As long-term shareholders of Western Union, we support transparency and accountability in corporate spending on
political activities. These include any activities considered intervention in any political campaign under the Internal
Revenue Code, such as direct and indirect contributions to political candidates, parties, or organizations; independent
expenditures; or electioneering communications on behalf of federal, state or local candidates.
Disclosure is in the best interest of the company and its shareholders and critical for compliance with federal ethics laws.
Moreover, the Supreme Court’s Citizens United decision recognized the importance of political spending disclosure for
shareholders when it said, “[D]isclosure permits citizens and shareholders to react to the speech of corporate entities in
a proper way. This transparency enables the electorate to make informed decisions and give proper weight to different
speakers and messages.” Gaps in transparency and accountability may expose the company to reputational and business
risks that could threaten long-term shareholder value.
Publicly available records show that Western Union contributed at least $564,000 in corporate funds since the 2004 election
cycle (CQ: http://moneyline.cq.com and National Institute on Money in State Politics: http://www.followthemoney.org.