Walmart Inc.

This proposal requests that Walmart adopt cumulative voting for director elections by amending governing documents so each shareholder may cast a number of votes equal to shares owned times the number of directors up for election and allocate those votes as they choose. Proponents argue cumulative voting helps minority shareholders elect at least some board representatives, encourages board refreshment, and provides a check on concentrated voting power. The supporting statement cites governance authorities and investor-activism trends as rationale and points to the Walton family’s significant voting control as context for why minority representation tools could be useful. The proposal asks the board to implement the change consistent with applicable law (e.g., by amending certificate of incorporation or bylaws).

This proposal requests a publicly available report describing governance measures Walmart has implemented since 2020 to oversee and manage workplace health and safety risks, including how the Board or relevant committee monitors injury rates, attendance policies with safety implications, and related matters. The proponent cites studies linking safety to productivity and references media/OSHA reports and surveys that raise concerns about injuries, workplace violence, and staffing pressures. The request frames the topic as a board-level human capital oversight issue and asks the company to disclose oversight structures and any policies or metrics used to track and mitigate risks. The report is to omit confidential or proprietary information and be prepared at reasonable cost.

This proposal asks Walmart to publish a report explaining how changes in U.S. immigration policy and enforcement are impacting the company’s operations, including staffing, visa-dependent roles (e.g., H-1B employees), trucking and logistics, and agricultural supply chains. The supporting statement cites recent policy changes and fee increases, anecdotal staffing disruptions, and potential effects on driver and farmworker availability that could affect service levels and costs. The proponent seeks disclosure so investors can assess operational and cost risks tied to immigration-related developments. The requested report should be publicly available and omission of confidential information is permitted.

This proposal requests a publicly available report detailing the principles guiding Walmart’s deployment of AI and automation and the metrics used to assess workforce impacts (e.g., job quality, compensation, training effectiveness, equity). The proponent highlights Walmart’s scale of AI adoption and concerns about algorithmic decision-making for hiring, scheduling, and pay, noting risks such as deskilling, bias, and intensified work pace. The report is intended to clarify how Walmart operationalizes its Responsible AI commitments, how governance and oversight structures monitor workforce effects, and what measurable indicators management uses to evaluate social implications. The report should exclude confidential or proprietary information and be prepared at reasonable cost.