ADL and JLens Urge Shareholders to Reject Anti-Israel Shareholder Proposals at General Dynamics and Lockheed Martin

Rhea-AI Summary

JLens, sponsor of the JLens 500 Jewish Advocacy U.S. ETF (NYSE: TOV), has urged shareholders to vote against specific proposals at upcoming General Dynamics (GD) and Lockheed Martin (LMT) annual meetings. The proposals in question request a Human Rights Impact Assessment at GD and an evaluation of political activities alignment with human rights policy at LMT.

The shareholder votes are scheduled for May 7, 2025 (GD) and May 9, 2025 (LMT). JLens argues these proposals are motivated by the BDS (Boycott, Divestment, and Sanctions) movement and aim to pressure companies to cut ties with Israel. Both companies' Boards of Directors have recommended voting AGAINST these proposals.

The TOV ETF, launched with ADL support, aims to combat what they describe as antisemitic and anti-Israel activities in corporate governance. JLens has filed Notices of Exempt Solicitation with the SEC opposing both proposals.

TOV ETF Sponsor Calls for Shareholders to Vote AGAINST Proposals Motivated by Antisemitic Boycott, Divestment and Sanctions Movement

NEW YORK--(BUSINESS WIRE)-- JLens, a Registered Investment Advisor (RIA) and Fund Sponsor of the JLens 500 Jewish Advocacy U.S. ETF (NYSE: TOV), today calls upon shareholders of two prominent global defense companies to vote AGAINST shareholder proposals that JLens believes were designed to pressure the companies into severing ties with Israel. The companies, General Dynamics (NYSE: GD) and Lockheed Martin Corporation (NYSE: LMT), are portfolio holdings of TOV, a faith-based ETF that was launched earlier this year to advocate for Jewish communal interests.

JLens noted that Proposal 4, expected to be submitted to a shareholder vote at the General Dynamics annual meeting on May 7, 2025, cites the company’s sales of arms to Israel as a reason that it believes the company should conduct a Human Rights Impact Assessment (HRIA). Similarly, Proposal 5, expected to be submitted to a shareholder vote at the Lockheed Martin annual meeting on May 9, 2025, is critical of that company’s sale of military equipment and systems to Israel, and asks its Board of Directors to evaluate and report on the alignment of its political activities with its human rights policy, ostensibly implying that they are not consistent.

Both proposals include deeply misleading and inflammatory allegations, accusing General Dynamics and Lockheed Martin of complicity in war crimes—and, in the case of General Dynamics, even genocide—due to their lawful defense partnerships with Israel. These claims are false, defamatory, and part of a broader campaign aimed at delegitimizing Israel’s right to self-defense and existence.

The Boards of Directors of both General Dynamics and Lockheed Martin have recommended that their respective shareholders vote AGAINST the above-noted shareholder proposals.

“While both the shareholder proposals filed at General Dynamics and Lockheed Martin claim to be concerned with human rights, they are actually thinly disguised attempts to pressure these companies into severing ties with Israel, a major objective of the Boycott, Divestment, and Sanctions (BDS) movement,” noted Jonathan A. Greenblatt, CEO and National Director of ADL (the Anti-Defamation League). “The TOV ETF was created with the support of ADL precisely to combat this kind of insidious antisemitic and anti-Israel activity.”

“These politically charged proposals dangerously ignore Israel’s critical security context and right to self-defense. The horrific October 7 Hamas terror attacks tragically illustrate why robust defense partnerships are vital. We strongly urge investors to reject these attempts to deprive Israel of essential defensive tools and vote AGAINST these harmful resolutions,” said Ari Hoffnung, JLens Managing Director.

JLens has filed separate Notices of Exempt Solicitation with the U.S. Securities and Exchange Commission, describing its opposition to the General Dynamics and Lockheed Martin proposals.

About TOV ETF
The JLens 500 Jewish Advocacy U.S. ETF (TOV) empowers investors to combat antisemitism and hate, support Israel, and promote the Jewish value of Tikkun Olam (repairing the world) through shareholder advocacy. The Fund, whose ticker symbol “TOV” is the Hebrew word for “good,” began trading on the New York Stock Exchange on February 27, 2025. TOV aims to deliver performance comparable to other U.S. Large Cap index funds while also amplifying the Jewish voice in the corporate arena. The Fund screens and scores companies based on how their activities align with Jewish values. JLens then uses this information to advocate for Jewish communal interests through engagement with management and boards of directors, proxy voting, and other forms of shareholder advocacy.

About JLens
Founded in 2012, JLens is a 501(c)(3) nonprofit and Registered Investment Advisor that empowers investors to align their capital with Jewish values and advocates for Jewish communal priorities in the corporate arena. JLens’ Jewish Investor Network is composed of over 30 Jewish institutions, representing $11 billion in communal capital. In 2022, JLens established an affiliation with ADL (Anti-Defamation League), the leading anti-hate organization in the world. More at www.jlensnetwork.org.

About ADL
ADL is the leading anti-hate organization in the world. Founded in 1913, its timeless mission is “to stop the defamation of the Jewish people and to secure justice and fair treatment to all.” Today, ADL continues to fight all forms of antisemitism and bias, using innovation and partnerships to drive impact. A global leader in combating antisemitism, countering extremism and battling bigotry wherever and whenever it happens, ADL works to protect democracy and ensure a just and inclusive society for all. More at www.adl.org.

The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The Prospectus and SAI contains this and other important information about the investment company, and it may be obtained by calling (215) 330-4476. Read it carefully before investing.

Visit https://investjewishly.org/ for the fund holdings.

ADL and JLens are affiliated nonprofit organizations. Neither organization's staff receive direct or indirect compensation for referrals or purchases of the JLens 500 Jewish Advocacy U.S. ETF or any other investment products. This communication is informational and does not constitute a securities offer.

Investing involves risk. Principal loss is possible. The Index considers JLens’ Jewish Value Pillars in its index methodology and may exclude otherwise profitable investments in companies which have been identified as being in conflict with JLens’ Jewish Value Pillars. The Fund is not actively managed, and the Adviser will not sell any investments due to current or projected underperformance of the securities, industries or sector in which it invests, unless the investment is removed from the Index, sold in connection with a rebalancing of the Index as addressed in the Index methodology, or sold to comply with the Fund’s investment limitations.

Large-Capitalization Companies Risk: Large- capitalization companies may trail the returns of the overall stock market. Large capitalization stocks tend to go through cycles of doing better – or worse – than the stock market in general. These periods have, in the past, lasted for as long as several years. When large capitalization companies are out of favor, these securities may lose value or may not appreciate in line with the overall market. In addition, large capitalization companies may be unable to respond quickly to new competitive challenges, such as changes in technology or consumer tastes, and also may not be able to attain the high growth rate of successful small companies, especially during extended periods of economic expansion.

The JLens 500 Jewish Advocacy U.S. ETF is distributed by Quasar Distributors, LLC.

PLEASE NOTE: THIS IS NOT A PROXY SOLICITATION AND NO PROXY CARDS WILL BE ACCEPTED. The Anti-Defamation League, JLens and the TOV ETF are not asking for your proxy card and cannot accept your proxy card. Please DO NOT send us your proxy card.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250407598595/en/

Media Contacts

Dukas Linden Public Relations

JLens@dlpr.com

Jessica Cohen

ADL

Jessica Cohen (929) 618-6393

adlmedia@adl.org

Source: JLens

FAQ

When are the shareholder votes scheduled for General Dynamics and Lockheed Martin proposals regarding Israel?

General Dynamics' vote is scheduled for May 7, 2025, while Lockheed Martin's vote is set for May 9, 2025.

What are the specific proposals being voted on at GD and LMT that TOV ETF opposes?

At General Dynamics, Proposal 4 requests a Human Rights Impact Assessment, while at Lockheed Martin, Proposal 5 calls for evaluation of political activities' alignment with human rights policy.

What is the TOV ETF's position on the shareholder proposals at General Dynamics and Lockheed Martin?

TOV ETF strongly opposes these proposals, viewing them as attempts to pressure companies into severing ties with Israel through the BDS movement.

What actions has JLens taken regarding the GD and LMT shareholder proposals?

JLens has filed Notices of Exempt Solicitation with the SEC opposing both proposals and is actively urging shareholders to vote against them.