At STORE Capital Corporation (“STORE Capital”), we believe that delivering strong financial results while also contributing in a positive way to all our many stakeholders defines true success. We have always considered our stakeholders to include a composite of stockholders, employees, customers, suppliers, creditors and communities and we understand that business success should be measured in terms of more than financial performance. In this regard, we seek to achieve a broad balance of objectives ranging from positive societal and environmental impact to product innovation, job creation, career development, inclusion and diversity. Ultimately, in addition to our direct success, we take great pride in helping so many of our customers succeed, improving the liquidity of middle market companies and contributing meaningfully to the ability of our customers to create jobs and improve their communities across the country.
We believe that honoring and affirming protections for human rights is consistent with these ideals and our overall mission. This belief is embodied in the principles of honesty, fairness and candor set forth in our Code of Business Conduct and Ethics and in many other aspects of our corporate culture, including:
- Our continuous efforts to provide a work environment that attracts, develops and retains top talent by affording our employees an engaging work experience that allows for career development and opportunities for meaningful civic involvement.
- The encouragement to our employees to make personal efforts to build connections with one another and to involve themselves in outside organizations that promote education, environmental sustainability and social well-being.
- Our focus on helping our customers build and sustain successful businesses that have a positive impact on their own employees and communities.
Consistent with this culture, and our underlying values and expectations, STORE Capital strives to conduct its business in a manner that is consistent with fundamental human rights principles – including freedom of association, the elimination of forced or compulsory labor, the abolition of child labor and the elimination of discrimination in respect of employment and occupation – such as those stated in the United Nations Universal Declaration of Human Rights and the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work. STORE Capital is committed to respecting and promoting these principles. We are committed to maintaining a work environment where every employee at every level is treated with dignity and respect, is free from discrimination and harassment, and is allowed to devote their full attention and best efforts to performing their job to the best of their respective abilities. Everyday actions that we take to live up to our commitment to human rights principles include:
- Equal Employment Opportunity. We offer equal employment opportunity to all without discrimination and, to those we hire, a diverse and vibrant workplace that respects individuality, helps every person realize his or her full potential and includes persons with a broad range of experiences, backgrounds and skills that enable us to anticipate and meet the needs of our business and our customers.
- Competitive Compensation. We are committed to compensating our employees at competitive rates. In 2018, the median of the annual total compensation of all STORE Capital employees (other than our President and Chief Executive Officer) was $121,638.
- Ethical Behavior. We require each new employee to be trained regarding our Code of Business Conduct and Ethics (the “Code”), our General Policy Regarding Compliance with Anti-Corruption Principles and other corporate policies upon hire, and we require all employees, including management, to annually certify that they have read and understand the Code. As part of our internal audit function, we conduct periodic audits to determine internal compliance with the Code.
- Violence-free Workplace. We prohibit violence or threats of violence in any form in the workplace, at work-related functions or outside the workplace if such behavior affects the workplace, and seek to ensure that our employees may work in an environment that is safe and free from all violent, threatening and intimidating conduct.
- Open Communications. We encourage employees to raise concerns, ask questions and report potential policy violations or suspicious behaviors without fear of retaliation, including by providing our employees with access to a whistleblower hotline as well as the ability to directly contact our Chief Compliance Officer or the Chair of our Audit Committee of the Board regarding such concerns.
- Compliance with Laws. We conduct business in accordance with the letter, and the spirit, of applicable labor, occupational health and safety, anti-discrimination and other workplace laws.
Applicability Generally
As of September 30, 2019, we employed a total of 98 persons, all of whom operate from an approximately 27,000 square foot leased office suite on the first floor of a commercial office building in Scottsdale, Arizona. We recognize that our business conduct can have impacts beyond our corporate office. Accordingly, these standards of business conduct apply to all our employees, whether they are working at our home office or off-site.
Applicability to Customers, Business Partners and Vendors
We follow the same standards of business conduct when interacting with our customers and other business partners, and when engaging and managing the vendors, contractors and subcontractors with whom we do business. We expect that all parties with whom we do business will similarly respect individual human rights and conduct their business operations free from human rights abuses, such as forced or child labor, human trafficking and slavery.
Policy Governance
The Nominating and Corporate Governance Committee of our Board of Directors is charged with considering and advising the Board on social responsibility matters, reviewing and recommending appropriate social responsibility goals, policies and practices, and reviewing and monitoring key performance metrics relating to social responsibility matters.
In accordance with the foregoing, this Policy Statement on Human Rights was approved by our executive management team on October 29, 2019, and is overseen and reviewed at least annually by the Nominating and Corporate Governance Committee of our Board of Directors. This Policy Statement is maintained by our Chief Compliance Officer. Substantive revisions may be approved by our Chief Compliance Officer in conjunction with oversight by the executive management team and the Nominating and Corporate Governance Committee.
