United States Securities and Exchange Commission
Washington, D.C. 20549
NOTICE OF EXEMPT SOLICITATION
Pursuant to Rule 14a-103
Name of the Registrant: Southern Co
Name of persons relying on exemption: Inspire Investing, LLC
Address of persons relying on exemption: 3597 E Monarch Sky Ln, Suite 330, Meridian, ID 83646
Written materials are submitted pursuant to Rule 14a-6(g) (1) promulgated under the Securities Exchange Act of 1934. Filer of this notice does not beneficially own more than $5 million of securities in the Registrant company. Submission is not required of this filer under the terms of the Rule but is made voluntarily in the interest of public disclosure and consideration of these important issues.
Southern Company, one of the largest U.S. utility companies with over 28,000 employees, plays a pivotal role in shaping workplace culture and economic opportunity. As a major federal contractor with the Department of Defense (DoD), it must adhere to federal and state anti-discrimination laws, including Title VII, which prohibits discrimination based on race, religion, sex, national origin, or, in some jurisdictions, political affiliation.1 President Trump’s Executive Order also bars federal contractors from promoting Diversity, Equity, and Inclusion (DEI) initiatives, though this is currently under a preliminary injunction while it is litigated. But Southern maintains many of its problematic DEI policies, which raises serious legal risk, jeopardizes its preferred status with the Department of Defense as a federal contractor, stifles innovation and workforce engagement, and increases reputational risk as DEI is increasingly seen as divisive and harmful.
Southern’s DEI workforce policies include mandatory training programs and hiring practices that prioritize group identity over individual merit. Southern Company has publicly stated, “Our strategy for recruiting, retaining, and developing employees includes a deliberate focus on DE&I.”2 Furthermore, the company mandates that “all our employees commit to continued personal education on equity and inclusion,” including annual DEI training and unconscious bias
1 https://www.southerncompany.com/innovation/federal-partnerships.html
2 https://www.southerncompany.com/content/dam/southerncompany/sustainability/pdfs/our-people/human-capital-management-factsheet.pdf#:~:text=Diversity%2C%20equity%20&%20inclusion%20Our%20strategy%20for,engage%2C%20 include%20and%20retain%20a%20diverse%20workforce
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training.3 These policies risk fostering a workplace environment that stifles free speech and religious freedom by enforcing ideological conformity.
Southern’s continued DEI commitments raise concerns about impartiality. CEO Chris Womack’s prior work for a Democratic U.S. House Representative and House Committee, VP Curley Henry’s 2023 White House equity roundtable participation, and Southern’s enormous commitment of $225 million to advance “social justice” initiatives, may signal a politicized corporate culture, potentially alienating employees with differing views.4 While Southern has reduced the visibility of its DEI efforts—removing the “Boldly Forward” website and links to its Moving to Equity Reports (2020-2023)—many commitments remain public, including the 2023 Moving to Equity Report.5 Womack’s December 9th letter to Trump, offering partnership, appears conciliatory but does not address these policies, suggesting the company is engaging in selective transparency.6
The 2024 Viewpoint Diversity Score Business Index indicates that 91% of large companies, including Southern, promote divisive concepts like critical race theory, prioritizing group identity over ideological diversity and equal opportunity.7 The Freedom at Work survey reveals that 60% of employees fear punishment for expressing religious or political views at work, and 54% worry about social media repercussions.8 Southern’s DEI programs may contribute to a culture of fear and self-censorship. Recent Supreme Court rulings in Students for Fair Admissions v. Harvard, Groff v. DeJoy, and City of St. Louis v. Muldrow heighten scrutiny of discriminatory policies.9 Organizations with similar DEI practices have faced lawsuits and regulatory backlash, posing a cautionary tale for Southern.
Southern’s DEI policies also present significant operational and reputational risks. The Wall Street Journal notes that many companies are phasing out DEI goals due to backlash, a trend Southern navigates inconsistently.10 Employers prioritizing ideological conformity hinder innovation, alienate talent, and undermine diverse customer service. Southern’s lack of transparency around its social justice funding and selective DEI content removal erodes trust. Southern Company’s DEI policies risk casting the company as a de facto regulator of speech and belief, undermining the fundamental freedoms that foster a healthy marketplace of ideas.
3 https://www.southerncompany.info/htmlemail/culture.pdf
4 https://www.georgiapower.com/content/dam/georgia-power/pdfs/company-pdfs/about-us/bio-chris-womack-1-04-2020.pdf,
https://www.csrwire.com/press_releases/771126-white-house-invites-henry-speak-equity-roundtable
5 https://web.archive.org/web/20241111130131/https:/www.southerncompany.info/boldly-forward/index.html
6 https://8515244d-4c8f-4d2c-8d44-ac147bb6fe6e.usrfiles.com/ugd/851524_36ba69f43fd84613831cc3a085f8e99f.pdf
7 https://www.viewpointdiversityscore.org/
8 https://www.viewpointdiversityscore.org/polling
9 https://www.supremecourt.gov/opinions/22pdf/20-1199_hgdj.pdf, https://www.supremecourt.gov/opinions/22pdf/22-174_k536.pdf,
https://www.supremecourt.gov/opinions/23pdf/22-193_q86b.pdf
10 https://www.wsj.com/business/diversity-goals-are-disappearing-from-companies-annual-reports-459d1ef3
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In light of these escalating risks, we call on Southern Company to provide greater transparency and accountability to shareholders. We strongly urge shareholders to vote YES on Proposal Item No. 8 - Report on Respecting Workforce Civil Liberties that asks the company to issue a report evaluating how the company’s policies and practices impact employees and prospective employees based on their race, color, religion (including religious views), sex, national origin, or political views, and the risks those impacts present to the company’s business.
Sincerely,
The Undersigned
Robert Netzly CEO Inspire Investing | Bill Flaig CEO American Conservative Values ETF | OJ Oleka CEO State Financial Officers Foundation
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Jerry Bowyer CEO Bowyer Research | Jeffrey Presley President Mountain PEAK Wealth Advisors | Aaron Moon President Inspire Advisors
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Tom Strobhar President Strobhar Financial | Daniel Wallick Managing Partner/CIO Wallick Investments LLC | Nelson Negron President Provident Oak Financial, LLC
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Matthew Mohlman President Monument Advisers | Brent Jackson Owner, President Harvest Financial
| Carlton Graves President Graves & Associates, Ltd. |
Joseph James Vice President Greater Texas Financial Solutions
| Aaron Witten Managing Member Witten Financial Services, LLC | Craig Anderson Owner Family Focused Finacial |
Terrence Rocks Founder/Advisor Teleios Financial Partners
| Michael Gauthier CEO Strategic Income Group | Chris Maclellan Chairman Maclellan FDN Inc. |
Mack Conley Financial Advisor Genesis Investments | Matthew Daugavietis Wealth Advisor Inspire Advisors
| Rick Figueroa CEO Patron Partners Wealth Advisors |
Johnathan Cunningham Financial Advisor Inspire Advisors | Will Odland Founder, Financial Advisor Fidelis Financial LLC | Matthew Bonito Financial Advisor Upward Management Group
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Jacob Chandler Owner Chandler Wealth Management Inc. | Aaron Hoffman Wealth Advisor Hoffman Wealth Management Group, LLC. | Johnny Yun Senior Vice President Yun Wealth Management |
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Michael Pemberton Financial Advisor Strategic Stewardship | John Ruzza Senior Advisor/CFP MainStreet Financial Advisors | Bruce Holt Financial Advisor
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Hunter Dees Genesis Investments | Luke Andrews Investment Advisor Inspire Advisors | Brian S McDowell Managing Director Oz Investing Services LLC
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David Eck Wealth Advisor Oakstreet Financial | Joseph Allen Financial Advisor Inspire Advisors | James Jon Benet Financial Advisor Triumphant Portfolio Mgmt LLC
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Christopher Hull Financial Advisor CFD Investments | Michael Smith Wealth Advisor Kingdom Focused Financial | George Williams Financial Advisor WSI Financial Partners, LLC
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Michael Graef Financial Planner Christian Wealth Management | Mark Trice Financial Advisor ClearVista Financial | Luke Zumbusch Financial Advisor Inspire Advisors
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Jay Richardson Founder Kingdom Wealth Stewards | Laura Simpson Financial Advisor PAX Financial Group, LLC | Derek Mauldin Financial Advisor Kingdom Focused Financial
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William Haider Investment Solutions Rep. Fidelity Investments | Christopher Murray President Murray Financial Group | Mary Nelson Associate Wealth Advisor Schwab Wealth Advisory
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Brent Hoffman Financial Advisor Fifteen:22 Financial Partners | Terry Prather Wealth Advisor United Capital Financial Advisors | Matthew Baldini Wealth Advisor Inspire Advisors-The Chandler Team |
Thad Allen Financial Advisor Smith Moore & Co.
| Ron Harczak CFP, CKA, Principal Steward Guide Wealth Partners
| Derek Hastings Financial Advisor Inspire Advisors
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Chris Pagotto Client Portfolio Manager Kingdom Focused Financial | Daniel Allen Financial Advisor Smith Moore & Company
| Matt Conrad Relationship Manager Carson Wealth
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| Eric Behaghel Senior Advisor Aliter Invest |
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Disclosures/Media
The foregoing information may be disseminated to shareholders via telephone, U.S. mail, e-mail, certain websites and certain social media venues, and should not be construed as investment advice or as a solicitation of authority to vote your proxy. The cost of disseminating the foregoing information to shareholders is being borne entirely by the filers.
The information contained herein has been prepared from sources believed reliable but is not guaranteed by us as to its timeliness or accuracy, and is not a complete summary or statement of all available data. This piece is for informational purposes and should not be construed as a research report. Inspire Investing is not able to vote your proxies, nor does this communication contemplate such an event. Proxy cards will not be accepted by us. Please do not send your proxy to us. To vote your proxy, please follow the instructions on your proxy card.
For questions, please contact Tim Schwarzenberger, Director of Corporate Engagement at Inspire Investing, via email at tim.schwarzenberger@inspireinvesting.com.
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