Oracle Corp. (ORCL) - Get Report is urging shareholders to vote against a proposal requesting that the company issue a gender pay gap report, arguing that it is already committed to pay equity for all of its employees.

The 12-member board of directors, which consists of three women, said it unanimously recommends voting against the proposal brought by Pax World Mutual Funds, according to a Thursday filing with the U.S. Securities and Exchange Commission.

"We make every effort to attract, invest in and develop the talents of employees who reflect the diversity of our customers and the communities in which we do business," Oracle said in the filing. "We are also committed to pay equity for all of our employees and ensuring that we do not discriminate on the basis of gender or any protected category in the full range of our compensation decisions."

According to the proposal, women make up 29% of Oracle's employees, but only 23% of its leadership positions. Oracle acknowledged that diversity and inclusion in the workforce start at the top, noting that 25% of the board is women. It also highlighted the Oracle Women's Leadership program, which works to develop, engage and empower current and future generations of Oracle women leaders.

"The board does not believe that this stockholder proposal would enhance Oracle's existing commitment to fostering a diverse and inclusive workplace," Oracle wrote in the filing.

Still, a number of tech companies have begun issuing gender pay gap reports, including Apple Inc. (AAPL) - Get Report , Amazon Inc. (AMZN) - Get Report , Intel Corp. (INTC) - Get Report and Microsoft Corp. (MSFT) - Get Report , to name a few.

Cisco Systems Inc. (CSCO) - Get Report , one of Oracle's biggest competitors, began its pay parity analysis in the U.S. in 2016, finding a "healthy and equitable compensation system with only minor disparities," Shari Slate, Cisco's chief inclusion and collaboration officer, wrote in a blog post. The company made compensation adjustments representing less than 0.02% of its global payroll for a "very small number of employees," just over 1% globally, Slate said.

Furthermore, the Department of Labor filed a lawsuit on Jan. 18 against Oracle, alleging that the company has a "systemic practice of paying Caucasian male workers more than their counterparts in the same job title, which led to pay discrimination against female, African American and Asian employees." The case is still under review.

Notably, co-chief executive officer Safra Catz, 55, was the highest paid female CEO at the 100 largest U.S. companies, according to an April 2017 report by Equilar, which provides executive compensation benchmarking and tracking tools. Catz's total compensation for 2016 came in at $40,943,812, which is more than what Hewlett Packard Enterprise Co.'s (HPE) - Get Report Meg Whitman, International Business Machines Corp.'s (IBM) - Get Report Virginia "Ginni" Rometty and Pepsico Inc.'s (PEP) - Get Report Indra Nooyi received individually, per Equilar.

For fiscal 2017, Katz and fellow Co-CEO Mark Hurd, 60, are slated to both earn a base salary of $950,000. Including stock and option awards and all other compensation, Catz is expected to make $40.7 million while Hurd will take home $40.8 million. (The extra $100,000 or so for Hurd is for security-related costs, the company said in the filing.)

Shareholders will get to vote on the pay equity report proposal at the company's annual meeting, which will be held on Wednesday, Nov. 15, at 10 a.m. PST.

Oracle shares were little changed, trading at around $48.24 on Friday.

Apple is a holding in the Action Alerts PLUS Charitable Trust Portfolio, which is managed by Jim Cramer, founder of The Deal's parent, TheStreet.