Egan-Jones

Peoples Financial Corporation’s (PFBX) most recent say-on-pay proposal received just 63.8% support, signaling meaningful shareholder dissatisfaction. Under Egan-Jones’s Governance Policy, that result and the lack of response from management warrant a recommendation to vote against this year’s say-on-pay proposal. Read more: buff.ly/vxDmq1B

Under its ESG policy, Egan-Jones recommends voting AGAINST Moderna’s executive compensation, citing misalignment with shareholder returns, including a -29.1% TSR for the period from 12/31/2024 to 12/31/2025 alongside CEO pay of $19.9M.

Egan-Jones Ratings is the Exclusive Lanyard Sponsor at the PDI Europe Forum — 5–6 May 2026, London. Alexander Prokopenko, CFA will be representing the firm. Reach out to connect. #PrivateDebt #PDIForum

Egan-Jones has affirmed PayPal Holdings Inc. at A, compared with other NRSROs at A-. The rating reflects solid financial performance, with quarterly revenue increasing to $8.8B from $8.3B and net income rising to $1.4B from $1.1B.

Egan-Jones Ratings will be attending The Annual CLO Industry Conference, hosted by DealCatalyst in partnership with LSTA — April 27–28, 2026, New York. Alexander Prokopenko, CFA will be representing Egan-Jones. #CLO #LSTA

Under its ESG policies, Egan-Jones recommends voting AGAINST the election of director Patrice Caine at L’Oréal, citing board independence concerns where less than 50% of the board is independent.

Under its Wealth-Focused policy, Egan-Jones recommends voting FOR the re-election of director and Uber CEO Dara Khosrowshahi, citing the company's strong TSR performance of 174.7% over his tenure.

Peoples Financial Corporation’s (PFBX) performance has remained broadly in line with regional bank peers, and its fundamentals do not suggest a business in need of a turnaround. Egan-Jones recommends voting FOR all six management nominees and WITHHOLDING votes from dissident nominee Stewart Peck. Read more: buff.ly/vxDmq1B

Under its Governance Policy, Egan-Jones recommends a vote AGAINST Citigroup Inc.’s proposed appointment of auditor KPMG LLP, citing its tenure of more than twenty years. KPMG has served as the company’s auditor for fifty-seven years.

Under its Wealth-Focused Policy, Egan-Jones recommends voting FOR Adidas AG's proposal to re-elect director Ian Gallienne, citing the company’s strong TSR performance of 117.8% over his tenure.

Under its Wealth-Focused Policy, Egan-Jones recommends voting FOR Rolls-Royce Holdings PLC's proposal to authorize the Company to purchase its own shares, citing the greater flexibility the repurchase plan would provide in managing the Company’s capital structure.

Egan-Jones has affirmed Honda Motor Co., Ltd. at A (Developing), above other NRSROs at BBB+. The rating reflects weaker financial performance, with quarterly revenue declining to JPY5,343.0B from JPY5,531.1B and net income falling to JPY153.6B from JPY310.6B.

Egan-Jones has affirmed Taiwan Semiconductor Manufacturing Co., Ltd. at AA-, in line with other NRSROs at AA-. The rating reflects strong financial performance, with quarterly revenue increasing to TWD1,046.1B from TWD868.5B and net income rising to TWD505.7B from TWD374.7B.

Egan-Jones Ratings will be at the Alston & Bird New York Finance Forum — 22 April 2026, NYC. Attending on behalf of Egan-Jones: Vanessa Hemavathi, CAIA — Senior Manager, Business Development #ABFinanceForum

Egan-Jones has affirmed Costco Wholesale Corporation at AA on its senior unsecured debt, in line with other NRSROs at AA. The rating reflects solid operating performance, with quarterly revenue rising to $69.6B from $63.7B and net income increasing to $2.0B from $1.8B.

Under its ESG policy, Egan-Jones recommends voting AGAINST the re-election of Director Vicki Hollub, President and CEO of Occidental Petroleum, citing the company’s TSR underperformance of -15.0% during her tenure.

Egan-Jones has affirmed Harley-Davidson, Inc. at BBB on its senior unsecured debt, one notch above other NRSROs at BBB-, with total debt declining from $7.0B to $3.1B even as net loss widened to $279.3M from $116.9M.

Egan-Jones has affirmed Boeing Company at B on its senior unsecured debt, well below other NRSROs at BBB-, with leverage remaining elevated at 91.2% despite improved earnings performance.

Egan-Jones Ratings is a Badge Sponsor at The U.S. Private Credit Industry Conference on Direct Lending — April 16–17 in Nashville, TN. Richard Speicher and Alexander Prokopenko, CFA will be representing us on the ground. Reach out if you'd like to connect. #PrivateCredit #DirectLending

Egan-Jones has affirmed Netflix, Inc. at A- on its senior unsecured debt with an A-1+ short-term rating even as other NRSROs are at A, with leverage improving as total debt declined to $17.0B.