Airbnb includes conservative shareholder proposals following lawsuit

WILMINGTON, Del. – Following a lawsuit, Airbnb agreed to include shareholder proposals from The Heritage Foundation and the American Conservative Values ETF on the agenda for its 2026 annual meeting of stockholders.

Boyden Gray PLLC and Alliance Defending Freedom attorneys filed the suit, The Heritage Foundation v. Airbnb, after the company excluded the proposals from its 2025 proxy materials. After a federal court ruling advanced key claims in the case, Airbnb agreed to include the proposals in 2026, prompting The Heritage Foundation and American Conservative Values ETF to dismiss their lawsuit.

“This case has always been about protecting the rights of shareholders and reinforcing the principle that public companies must follow the law and remain accountable to their owners,” said Andy Olivastro, chief advancement officer at The Heritage Foundation. “As a shareholder, Heritage wants Airbnb to succeed by creating long-term value for investors and focusing on its core business. We appreciate that Airbnb fulfilled its legal obligations so its shareholders could have their voices heard.”

“Airbnb’s ‘lost in the mail’ excuse was a new low,” said ADF Legal Counsel Logan Spena. “It shouldn’t have taken a lawsuit to steer the company in the right direction. Companies that want to challenge shareholder proposals are free to pursue lawful avenues, but they are not free to simply lose them in the mailroom. That’s not just wrong—it’s illegal. We’re hopeful this outcome produces lasting improvements that benefit every Airbnb shareholder.”

After following all applicable Airbnb and U.S. Securities and Exchange Commission procedures, Heritage and ACVF separately submitted shareholder resolutions via FedEx in December 2024. Both packages were signed for by the same Airbnb mailroom employee on separate dates before the filing deadline. Yet neither proposal appeared in the company’s April 2025 proxy statement. When contacted nearly a month before the annual meeting, Airbnb claimed it never received the resolutions and suggested FedEx had falsified the delivery records. Airbnb’s chief legal officer, Ron Klain, previously served as White House chief of staff for President Joe Biden from 2021 to 2023.

Heritage, which owns more than $40,000 in Airbnb stock, submitted a proposal highlighting the company’s history of yielding to politicized pressure campaigns. It cited Airbnb’s 2018 decision to de-list Israeli-owned rental properties in the West Bank before later reversing course. The proposal called on the board to issue an annual report to shareholders analyzing the legal and reputational risks associated with the Boycott, Divestment, and Sanctions movement and similar activism.

The American Conservative Values ETF, which owns more than $25,000 in Airbnb stock, submitted a proposal requesting a report on how the company’s terms-of-use policies can negatively impact shareholder value. The proposal highlighted broad, subjective standards such as “misinformation,” “hate speech,” “intolerance,” or “reputational risk” that can enable viewpoint discrimination. It also cited instances in which Airbnb blocked conservative commentator Michelle Malkin as well as Lauren Southern and members of her family.

The Heritage Foundation has been leading the American conservative movement for more than five decades, formulating and promoting conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense. Through its Free Enterprise Initiative, Heritage actively engages companies to protect shareholder rights and promote sound corporate governance. Heritage believes Americans flourish when they are free to work, build, and provide for their families in an industrious economy that rewards service and value creation—an approach that requires respect for private property, the freedom to start and grow a business, and an economic system that strengthens families rather than undermines them.

• Pronunciation guide: Spena (SPEE’-nuh); Olivastro (Olee-VAH’-stro)

Alliance Defending Freedom is an alliance-building, non-profit legal organization committed to protecting religious freedom, free speech, parental rights, and the sanctity of life.

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