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The decision, which was noted in a company filing with the Securities and Exchange Commission Monday, comes in response to a shareholder proposal concerning lobbying disclosure. That proposal, which was made by the New York State Common Retirement Fund that owns 960,716 shares of common stock, requests that the board of directors authorize an annual report disclosing lobbying policy and procedures, payments made by the company for direct and indirect and grassroots lobbying communications, and membership in and payments to tax-exempt organizations that write and endorse model legislation.
"The company’s board of directors continues to believe that the report requested in [the proposal] is not necessary and recommends a vote against the proposal," General Dynamics noted in the filing.