Costco Wholesale (COST) shareholders have voted against a shareholder proposal requesting the company to report on the risks of maintaining its diversity, equity and inclusion initiatives, according to a FactSet transcript of the company's 2025 annual meeting of shareholders Thursday.

According to the preliminary results, over 98% of shares voted against the proposal, the transcript showed.

The proposal was submitted by the National Center for Public Policy Research, which said the DEI initiatives pose "litigation, reputational and financial risks to the company, and therefore financial risks to shareholders."