Summary by Moomoo AI
JPMorgan Chase & Co. has filed a letter with the SEC and sent it to Glass Lewis, a proxy advisory firm, addressing concerns about Glass Lewis's recommendations to shareholders for the upcoming 2024 Annual Meeting. The letter, dated May 7, 2024, and authored by Aaron Bertinetti, Managing Director Head of ESG Investor Relations, challenges Glass Lewis's analysis on two shareholder proposals. The first, Proposal 10, relates to voting on excessive golden parachutes, where JPMorgan disputes Glass Lewis's failure to disclose key arguments made by the Board and its recommendation for a severance policy that would allow higher payouts than the firm's current limit. The second, Proposal 5, concerns the appointment of an independent Board Chairman, where JPMorgan criticizes Glass Lewis for not...Show More