The Procter & Gamble Company (PG) Proxy filing summary

Executive summary

• Supplemental filing reaffirmed the Board’s recommendation to vote against Item 5 ahead of the October 13, 2026 annual meeting.

Voting matters and shareholder proposals

• Item 5 asks the Board to preserve current Rule 14a-8 eligibility thresholds in annual proxy materials even if those thresholds later change; the Board recommends voting against it.

• On September 16, 2026, the SEC proposed rescinding Rule 14a-8 in full; the proposal remains open to comment, may change or not be adopted, and could face litigation.

Board of directors and corporate governance

• The Board favors retaining discretion to review the final legal framework and balance shareholder access, governance practices, administrative burdens, and long-term shareholder interests.