PETA has shares in more than 70 companies, and buys the minimum amount of stock needed to submit shareholder proposals for a vote at their annual meetings. It’s a strategy PETA plans to employ Wednesday, as it submits a statement to SeaWorld Entertainment Inc.’s
SEAS+1.23% annual meeting from PETA representative and pro-surfer Kelly Slater.
PETA’s holdings range from SeaWorld to pharmaceutical, food, retail and biotechnology companies, including names like McDonald’s Corp.
MCD+0.07% General Electric Co.
GE-2.18% and Lululemon Athletica Inc.
LULU+0.49% .
“We choose to act as a shareholder only as necessary, If the company is not making forward progress on animal welfare issues.” said Stephanie Shaw, corporate affairs specialist at PETA.
To be eligible to submit a proposal, a shareholder must own at least $2,000 in market value, or 1% of a company’s shares. The shareholder has to hold on to that stock for at least one year before submitting a proposal and must hold the shares through the meeting, according to the Securities and Exchange Commission.
Why PETA invests in companies it labels animal abusers - MarketWatch