The Charles Schwab Corporation announced that it has received a shareholder proposal from Friends Fiduciary Corporation, request the preparation of a report, updated annually, disclosing: 1) Company policy and procedures governing lobbying, both direct and indirect, and grassroots lobbying communications, 2) Payments by Schwab used for (a) direct or indirect lobbying or (b) grassroots lobbying communications, in each case including the amount of the payment and the recipient and 3) Description of managements and the Board's decision-making process and oversight for making payments. In addition, the Company urged the shareholders to vote against the shareholder proposal at its annual general meeting of shareholder scheduled to be held on May 17, 2022.