<SEC-DOCUMENT>0001377739-21-000052.txt : 20210506
<SEC-HEADER>0001377739-21-000052.hdr.sgml : 20210506
<ACCEPTANCE-DATETIME>20210506170658
ACCESSION NUMBER:		0001377739-21-000052
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210506
DATE AS OF CHANGE:		20210506
EFFECTIVENESS DATE:		20210506

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MCDONALDS CORP
		CENTRAL INDEX KEY:			0000063908
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				362361282
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05231
		FILM NUMBER:		21898854

	BUSINESS ADDRESS:	
		STREET 1:		110 NORTH CARPENTER STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60607
		BUSINESS PHONE:		630 623 3000

	MAIL ADDRESS:	
		STREET 1:		110 NORTH CARPENTER STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60607

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CtW Investment Group
		CENTRAL INDEX KEY:			0001377739
		IRS NUMBER:				203688367

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		1900 L STREET NW
		STREET 2:		SUITE 900
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20036
		BUSINESS PHONE:		202 721 6060

	MAIL ADDRESS:	
		STREET 1:		1900 L STREET NW
		STREET 2:		SUITE 900
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20036
</SEC-HEADER>
<DOCUMENT>
<TYPE>PX14A6G
<SEQUENCE>1
<FILENAME>mcd21investorletter.htm
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">SECURITIES &amp; EXCHANGE
COMMISSION</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">WASHINGTON, D.C.&#160;&#160; 20549</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">NOTICE OF EXEMPT SOLICITATION</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">NAME OF
REGISTRANT:</font></b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#160;
McDonald&#8217;s Corp..&#160;&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">NAME OF
PERSON RELYING ON EXEMPTION:</font></b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#160;
CtW Investment Group</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">ADDRESS
OF PERSON RELYING ON EXEMPTION:</font></b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#160;
1900 L Street, N.W., Suite 900, Washington, D.C.&#160;&#160; 20036</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font color=#1a1a1a face="times new roman" lang=EN-US style="font-size:11.0pt;">Written materials are submitted pursuant to Rule 14a-6(g)(1)
promulgated under the Securities Exchange Act of 1934:</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font color=#1a1a1a face="times new roman" lang=EN-US style="font-size:11.0pt;">_____________________________________________________________________________________</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">[The communication below is being
sent to investors by employees of CtW Investment Group, and by employees of the
New York City Comptroller&#8217;s Office on behalf of the New York City Pension
Funds.]</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">Hi _____,</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">We want to make sure you have seen our letter in which we
detail why we are recommending that McDonald&#8217;s shareholders vote against
Directors Chairman Enrique Hernandez, Jr. (Item 1e) and Richard Lenny (Item
1g), at the McDonald&#8217;s Corp (NYSE: MCD) Annual Meeting on May 20, 2021. The
letter is available at: </font><u><font color=#0563C1 face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">https://www.sec.gov/Archives/edgar/data/0000063908/000137773921000039/shletter.htm</font></u><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">.
Such a vote would express your support for director accountability and for a
&#8220;zero reward&#8221; policy in cases of sexual misconduct. </font><b><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">Do you have some time in
the next few days in order to schedule a call to discuss our concerns?</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">As long-term, responsible shareholders, we believe that these
directors are most responsible for the Board&#8217;s flawed investigation into former
CEO Steve Easterbrook&#8217;s misconduct that led to the Board&#8217;s ill-fated decision
to terminate him &#8220;without cause&#8221; in November 2019 for fraternizing with a subordinate--despite
the Board&#8217;s determination that Easterbrook had violated Company policy and
demonstrated poor judgment. The Board&#8217;s indefensible &#8220;without cause&#8221;
determination awarded Easterbrook a generous multi-million dollar severance
package. Furthermore, the Board&#8217;s missteps have ensnared McDonald&#8217;s in an
unnecessary and costly legal fight to recoup those unwarranted severance
payments from Easterbrook.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">Summary of our concerns:</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:6.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:11.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">The Board readily believed Easterbrook&#8217;s false claims that there
were no other unethical relationships and used it as an excuse to not
investigate any further. </font></p>

<p style="margin-bottom:6.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:11.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">The Board set a poor &#8220;tone at the top&#8221; that fostered a workplace
culture permissive of inappropriate behavior and violations of Company policy. </font></p>

<p style="margin-bottom:6.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:11.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">The board has inadequately refreshed itself with directors that
have the necessary skills and experience to oversee the Company&#8217;s material
risks. </font></p>

<p style="margin-bottom:6.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face=symbol lang=EN-US style="font-size:11.0pt;">&#183;</font><font face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">Proxy advisory firm Glass-Lewis supported our view and
recommended shareholders vote against Hernandez and Lenny. Glass Lewis stated:
&#8220;In our view, the chair of the board has the ultimate responsibility of
investigating violations of Company policy and risk oversight. We have </font><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">substantial concerns that the board did not appropriately
manage risk related to its decision to terminate former CEO Steve Easterbrook
without cause &#8230; Additionally, we are concerned by the allegations that the
internal investigation overseen by the board in response to the allegations of
executive misconduct may have been flawed.&#8221;</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">We look forward to speaking to you
soon. </font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">Sincerely,</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">________________________</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>




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