For Immediate Release: June 11, 2026

Palantir just released the official results following last Wednesday’s annual general shareholders’ meeting. A significant percentage (56%) of Palantir’s non-insider shareholders voted in favor of Proposal 5 at the Company’s June 3, 2026, Annual General Meeting, showing growing investor concern around the human rights risks associated with the Company’s products and services. Proposal 5, filed by the Congregation of the Sisters of Saint Joseph of Peace, which asked the company to publish a Human Rights Impact Assessment “examining actual and potential human rights impacts associated with the use of Palantir’s products and services.”  

“Pope Leo holds fast in Magnifica Humanitas to the call to protect human dignity in the age of artificial intelligence. He particularly points to the moral responsibility of developers like Palantir to embed values like transparency and responsibility toward affected communities into their products and services. The independent vote in support of our proposal for a Human Rights Impact Assessment shows that investors agree with Pope Leo and the Sisters. Technology is never neutral. This proposal is not an attack on capitalism or innovation; it is a call for transparency, accountability, respect for human dignity and moral responsibility,” stated Sr. Susan Francois, CSJP.

The Company’s 8-K filing lists overall shareholder support for Proposal #5 at 13%, but when insider votes are excluded, the vote results increase dramatically to 56%. 

What does this Mean?

The outsized voting power of Palantir’s founders significantly skews the results and makes it virtually impossible to win majority support on shareholder proposals.

Palantir has a three-class share structure, which means that in addition to class A and class B common stock, Palantir also has class F common stock.  The class F common stock gives Alex Karp, Stephen Cohen, and Peter Thiel 49.999999% of the voting power. 

In effect, the three-class share structure will significantly reduce the shareholder proposal support reflected in the 8-K, making it virtually impossible for shareholder proposals to win majority support. In fact, Palantir itself has recognized this fact. Palantir’s Form S-1 Registration Statement says its “multi-class common stock structure, [] provides our Founders and their affiliates with the ability to effectively control the outcome of matters requiring stockholder approval, even if they own significantly less than a majority of the shares of our outstanding common stock.”

As a result of these barriers, it is impossible for a shareholder proposal to ever have a fair chance of succeeding. Shareholder proposals at Palantir face substantial structural barriers regardless of the level of support they receive from non-insider investors. Vote totals alone, therefore, can never fully capture shareholder sentiment on any given issue.

The majority support from non-insider Palantir shareholders is a huge win and highlights that its investors are concerned about human rights-related material risks. 

“Despite the voting class structure challenges, this 56% vote sends a clear message that shareholders are seeking greater transparency regarding how Palantir identifies, prevents, mitigates, and addresses human rights risks associated with its technologies,” said Aaron Acosta, Program Director at IASJ. “Support for this proposal demonstrates that investors do view human rights due diligence as an important governance issue and expect Palantir to provide meaningful evidence that their policies are being implemented in practice.”

Despite the odds being stacked against Palantir shareholders, support for Proposal #5 rose significantly when insider shares were excluded from the vote. The non-insider vote of 56% represents a resounding call by Palantir investors for the company to meaningfully address the human rights violations it is connected to by commissioning and publishing a human rights impact assessment. 

Proposal #5 was supported by a wide array of institutional investors, including Norges Bank, New York City’s 5 Pension Plans, CalPERS, Illinois State Treasurer, L&G Asset Management, and a group of 34 investors with over $156 million in PLTR stock.

The outcome is further notable given Palantir’s other significant owners. Among the Company’s largest institutional shareholders are BlackRock Inc., Vanguard Capital Management LLC, State Street Corporation, and Geode Capital Management, LLC, which together own over 22% of the company and hold billions in PLTR shares.

A 2025 report by Majority Action found that many index funds vote in ways that differ from the stewardship priorities of the public pension funds that invest in them. The report noted that Vanguard’s S&P 500 ETF has historically voted against shareholder resolutions and consistently supported management proposals. It also pointed out that BlackRock and Vanguard “voted against all or nearly every shareholder proposal during the 2025 season.”

Similarly, the As You Sow report Uncovering Conflict of Interest found that several major asset managers, including BlackRock, one of the largest institutional investors and top shareholders in Palantir, holding well over 100 million shares that represent a significant percentage of the company’s total equity, were more likely to support management recommendations when business relationships existed between the asset manager and the companies receiving the vote. While we don’t yet have conclusive evidence on how these large investors voted on Proposal 5, these reports provide key context for understanding the challenges shareholders face when filing proposals at companies with concentrated founder control and significant passive ownership. Even in the face of this added roadblock, support for Proposal 5 reflects meaningful investor concern about Palantir’s ability to manage human rights risks.

*The non-insider vote is calculated by using the Form 8-K and the 2026 proxy statement, by excluding the insider votes associated with Class A, B, and F shares, and assuming they voted with management, i.e., against the shareholder proposal. The insider votes include all Class F shares, as well as the Class A and B shares listed on page 55 of the 2026 proxy statement.