Today, Palantir shareholders voted on six proposals at the Company’s 2026 AGM, including Proposal #5, filed by the Congregation of the Sisters of Saint Joseph of Peace, asking 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.”
During the AGM, which lasted less than 20 minutes, the Company announced that Proposal #5 did not pass – but this does not tell the whole story. Investors and the public will need to wait a few days until the official vote results are published in a Form 8-K and the non-insider vote is calculated.
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. 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.”
What does this Mean?
In effect, the three-class share structure will significantly reduce the shareholder proposal support reflected in the 8-K. Once the 8-K is published (which must be released within 4 business days after the AGM), we will calculate the non-insider vote support for Proposal #5, which will give a much more accurate picture of how independent shareholders view this Proposal.
We look forward to the company’s 8-K filing to learn more about how independent shareholders voted on the need for disclosure regarding the current and potential human rights impacts of the use of Palantir’s products.
