Summary by Moomoo AI
The New York State Common Retirement Fund (NYSCRF) has urged shareholders of Airbnb, Inc. to vote in favor of Proposal No. 5, which calls for the disclosure of the company's political spending. The proposal is set to be voted on at Airbnb's Annual Meeting on June 5, 2024. NYSCRF, which is relying on an exemption for this solicitation, highlights the risks associated with undisclosed political contributions, including legal, reputational, and financial risks. Despite Airbnb's political contributions totaling at least $2.4 million since 2010, the company has not provided shareholders with a detailed account of these expenditures. The lack of transparency prevents investors from assessing the alignment of such spending with Airbnb's business strategy and corporate priorities. The NYSCRF argues that disclosure...Show More