On April 2, 2024, International Paper Company announced that it has received a shareholder proposal from John Chevedden, requesting the Company to adopt a policy to seek shareholder approval of senior managers? new or renewed pay package that provides for golden parachute payments with an estimated value exceeding 2.99 times the sum of the executive?s base salary plus target short-term bonus. In addition, the Company recommended the shareholders to vote against the proposal at the annual meeting of shareholders scheduled to be held on May 13, 2024.