United States Securities and Exchange Commission
Washington, D.C. 20549
NOTICE OF EXEMPT SOLICITATION
Pursuant to Rule 14a-103
Name of the Registrant: Salesforce, Inc.
Name of persons relying on exemption: Inspire Investing, LLC
Address of persons relying on exemption: 3597 E Monarch Sky Ln, Suite 330, Meridian, ID 83646
As over 100 investors and financial professionals, serving thousands of clients and managing/ advising on over $250 billion in assets, we, the Undersigned, urge shareholders to vote YES on Proposal Item No. 8 - Stockholder Proposal Requesting a Report on Viewpoint Restriction Risks sponsored by the National Center for Public Policy Research.
Free speech and religious liberty are fundamental freedoms that form the basis of any healthy and functioning society. These freedoms are enshrined in the U.S. Constitution as well as in the UN Declaration of Human Rights.1 Digital Service Providers (DSP), such as technology and communications companies, play a critical role in the exercise of these freedoms because they have become the de facto platforms through which ideas are exchanged and free speech is expressed. However, according to the 2023 edition of the Viewpoint Diversity Business Index, 74% of the largest DSPs, including Salesforce, Inc., have policies that permit them to deny or restrict service based on vague and subjective terms like “misinformation,” “hate speech,” “intolerance,” or “reputational risk.”2 These policies encourage DSPs to punish certain political and religious viewpoints. And it exposes them to reputational risk from both sides of the political aisle, as some DSPs are now admitting. They also open DSPs up to political backlash and legal pitfalls.
Unfortunately, there have been numerous examples recently of organizations or persons being denied access to these platforms. Notable social media examples include Focus on the Family (Twitter account blocked), Heritage Foundation (YouTube content censored), and Professor Robert Gagnon (banned from Facebook). In each of these instances, these companies have leveraged their vague and subjective policies to justify censorship or de-platforming. DSPs that aren’t social media companies have also shown a willingness to politicize their services. For example, Apple has consistently politicized access to its App Store.3 Eventbrite has also canceled a list of events for hosting speakers with mainstream political and religious views.4 5 This activity is an existential threat to free speech and religious liberty.
1 https://www.un.org/en/about-us/universal-declaration-of-human-rights
2 https://www.viewpointdiversityscore.org/business-index
3 https://www.businessinsider.com/apple-takes-down-quran-bible-jehovahs-witenss-apps-in-china-2021-10
4 https://thespacecoastrocket.com/form-banning-books-to-banned-from-booking-eventbrite-bans-moms-for-liberty/
5 https://www.thecollegefix.com/eventbrite-repeatedly-cancels-college-conservatives/
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These censorship concerns and related corporate activism also raise serious legal, regulatory, and financial risks to companies. For example, Bowyer Research, on behalf of Alliance Defending Freedom, has explained how de-platforming, or even the appearance of it, has attracted substantial regulatory and political backlash, government oversight, and is legally suspect.6 Companies like Meta and Eventbrite are even openly admitting in their annual reports that these policies are significant reputational risks. In a recent white paper entitled Corporate Political Activism and Shareholder Value, Bowyer Research also analyzed corporate performance data from a number of different angles (including brand erosion and stock performance, risk, and risk/adjusted return) and reached the conclusion that corporate politicking on divisive social issues “at the very least raises legitimate financial concerns” for investors. 7 The Proposal would assist both the company and shareholders by identifying these sources of risks—risks that have already materialized to the substantial detriment of other companies in recent years.
In light of these growing concerns, we are calling on DSPs, including Salesforce, Inc., to provide greater transparency and disclosure to shareholders. That is why we are urging shareholders to vote YES on Proposal Item No. 8 that asks the company to issue a report on how it oversees risks related to discrimination against users or customers based on their race, color, religion (including religious views), sex, national origin, or political views, and how such discrimination impacts users, customers, and other individuals' exercise of their constitutionally protected civil rights.
Sincerely,
The Undersigned
Robert Netzly
CEO
Inspire Investing
| Michael Skillman
CEO
Faith Investor Services
| Matt Monson
Partner
Sovereign’s Capital
|
William Flaig
CEO and Founder
American Conservative Values ETF
| Sarah Newman
Vice President
Innovest Portfolio Solutions, LLC
| Kevin Freeman
CEO and Founder
Freeman Global
|
Justin Bennett
Associate
First Trust Advisors
| Dan Wallick
Managing Partner & CIO
Wallick Investments, LLC
| Chris Murray
President
Murray Financial Group
|
Art Ally
President
Timothy Plan
| Matt Cunningham
Investment Advisor
Inspire Advisors
| Ronald Thompson
Financial Advisor
LPL Financial
|
Matthew Daugavietas
Wealth Advisor
Inspire Advisors
| David Eck
Wealth Advisor
Oakstreet Financial
| Borja Barragan
CEO
Altum Faithful Investing
|
6 https://www.sec.gov/Archives/edgar/data/1108524/000109690624000640/bowy_px14a6g.htm
7 https://bowyerresearch.com/docs/Corporate%20Political%20Activism%20and%20Shareholder%20Value.pdf
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Michael Graef
Financial Planner
Christian Wealth Management
| Paul McWilliams
Founding Advisor
Inspire Advisors
| Matthew Bonito
Financial Advisor
Upward Management Group
|
Luke Andrews
Financial Advisor
Inspire Advisors
| Darrell Lyons
CEO
Pax Financial Group, LLC
| John Wildern
CEO
LIFE Advisor Group
|
Eric Boyum
Financial Advisor
Inspire Advisors
| Derek Mauldin
Financial Advisor/RIA
Kingdom Focused Financial
| Derek Hastings
CFP
Inspire Advisors
|
Johnathan Cunningham
Financial Advisor
Inspire Advisors
| David Zumbusch
Owner & CFP
Inspire Advisors MN
| Terrence Rocks
Founder/Advisor
Teleios Financial Partners
|
Matthew Baldini
Wealth Advisor
Inspire Advisors
| Paul Bryer
Financial Advisor
Inspire Advisors
| Aaron Hoffman
Financial Advisor
Inspire Advisors
|
Scott Harlan
Financial Planner/Practice Owner
Inspire Advisors HH
| Jaime Pagotto
Compliance Specialist
Kingdom Focused Financial
| Jay Richardson
Investment Advisor
Kingdom Wealth Stewards
|
Rick Figueroa
CEO
Patron Partners Wealth Advisors
| Jon Nettles
CEO
Revo Financial
| Daniel Catone
CEO
Arimathea
|
William Poland
Financial Advisor
Carolina Financial Advisors
| Matthew Mohlman
President
Monument Ventures
| Kurt Spackman
President/CEO
Capital Resource Mgmt, Inc.
|
Bruce Parmenter
Financial Advisor
Ameriprise Financial
| Carole Murray
Treasurer
Murray Financial Group, Inc.
| Benjamin Wilhelm
CEO
Lone Oak Financial
|
Rachel McDonough
Financial Advisor
Wealth Squared
| Evan Frazier
Founder & CEO
Tekwise Financial Planners
| Jon Halverson
Partner
Talanton LLC
|
William Feus
CEO
Gray Rock Financial Planning
| Steve French
Founding Advisor
Harvest Money | IYF
| Randy Umbaugh
Financial Advisor
Diligent Wealth Mgmt.
|
Ronald Harczak
Financial Advisor
Steward Guide Wealth Partners
| Daniel Bailey
Financial Advisor
Ambassador Advisors
| Gerry Frigon
CIO
Taylor Frigon Capital
|
3
Craig Mardi
Financial Advisor
Cetera Advisor Networks
| Dennis Williams
Financial Advisor
WSI Financial Partners, LLC
| Thomas Payne
Founder
Prosperitas Wealth Management
|
Ron Zunker
Financial Advisor
PAX Financial Group
| Nolan Dill
Financial Advisor
CFD Investments
| Steve Ellis
Financial Advisor
Sage Oak Financial
|
Daryl Schafer
Financial Advisor
Culbertson Financial Services
| William Holt
Financial Advisor
UBS
| Eric Dorman
Financial Advisor
Affiliated Financial Planners
|
Mark Trice
Financial Advisor
ClearVista Financial
| Michael Smith
Founder/CEO
Kingdom Focused Financial
| Joseph James
Vice President
Greater Texas Financial Solutions
|
William Woodyard
Vice President
LifeSmart Financial
| Brock Baker
Financial Advisor
Inspire Advisors
| Doug Gathright
Financial Advisor
LifeSmart Financial
|
George Williams
Financial Advisor
WSI Financial Partners LLC
| Jacob Chandler
Owner/Financial Advisor
Chandler Wealth Mgmt, Inc.
| Jevon Webster
CFP
Inspire Advisors
|
Douglas Hanson
Financial Advisor
Christian Wealth Management
| Ryan DeAmicis
Wealth Advisor
Christian Wealth Management
| Jesse Hamilton
Financial Advisor
ClearVista Financial
|
Erik Bloomfeldt
Investment Advisor
Insight Financial
| Heidi Foster
Vice President
American Wealth Management
| Dr. Erik Davidson
Asst. Clinical Professor of Finance
Baylor University
|
John Moore
Founder
John Moore Associates
| Ron Bergenske
Financial Advisor
LPL Financial
| Kenneth Wince
Financial Advisor
LPL Financial
|
Micky Reeves
Senior Wealth Advisor
EverSource Wealth Advisors
| Jerrold Ganz
Financial Advisor
Jerry Ganz Financial Planning
| Charles Immekus
Financial Advisor
Dedicated Financial Services
|
Jeff Hybiak
CIO
SEM Wealth Management
| Beau Zumbusch
CEO
Inspire Advisors Minnesota
| Ed Lytle
Financial Advisor
ERL Financial Services, LLC
|
Shane Enete
Associate Professor of Finance
Biola University
| Laura Simpson
Financial Advisor
PAX Financial Group
| Daniel Hardt
Managing Partner
Dan Hardt Financial Services
|
4
Jonathan Hunt
Financial Advisor
Intentional Wealth
| Matt Carr
Owner/Financial Advisor
TruPurpose Advisors
| Salvador Rodriguez
Financial Advisor
Cetera Financial Specialists
|
John Ruzza
CFP
Cambridge
| Mark Nicholas
Founder/Financial Adviser
Transform Retirement
| Tony Adkison
Financial Advisor
Stewardship Advisory Group
|
Henry Groves
Financial Advisor
Stephens, Inc.
| Paul Carlson
Owner/Wealth Manager
4:8 Financial
| Matthew Holt
Financial Advisor
CWM
|
James Jon Benet
Financial Advisor
Triumphant Portfolio Mgmt, LLC
| Larry Moss
Certified Financial Planner
Northwest Investments
| J. Michael Salley
President/CEO
Salley Wealth Advisors Group
|
Brent Jackson
President
Harvest Financial
| Jerry Bowyer
President
Bowyer Research
| Mike Ching
Founder/President
Nardene Wealth Management
|
Andrew Lehman
Financial Advisor
Inspire Advisors
| Joseph Verissimo
Owner/Financial Advisor
Christian Wealth Management
| Andrew Hreha
Institutional Fixed Income
Stephens, Inc.
|
Joseph Allen
Financial Advisor/RIA
Inspire Advisors
| Gerard Farkas
Owner
Gerard Farkas & Associates
| Ryan Munoz
Wealth Advisor
Inspire Advisors
|
Luke Zumbusch
Financial Planner
Inspire Advisors MN
| Thomas Strobhar
President
Strobhar Financial
| Stephen Werner
Financial Advisor/RIA
Covenant Financial Group
|
Robert Franer III
Owner/Wealth Advisor
Castellum Financial Advice
| James Kreid
President
Rock Solid Retirement Strategies
| Mark Reynolds
Wealth Advisor
Terrier Financial Group
|
| Scott Shepard
Director, Free Enterprise Project
National Center for Public Policy Research
|
|
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