On March 16, 2020, The Charles Schwab Corporation announced that Friends Fiduciary Corporation has submitted a proposal, requesting the preparation of a report, updated annually, disclosing the Company’s direct and indirect lobbying activities and expenditures to assess whether its lobbying is consistent with its expressed goals and in the best interests of stockholders, for consideration at the Company’s 2020 annual meeting of shareholders scheduled to be held on May 12, 2020.