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Home › Companies › BAJAJ AUTO LTD. › 2024-2025

BAJAJ AUTO LTD. 2024-2025 Proxy Voting Records

At BAJAJ AUTO LTD.'s 3 shareholder meetings in the 2024-2025 proxy season (held July 16, 2024, August 30, 2024 and April 30, 2025), 70 asset managers reported how they voted in their SEC Form N-PX filings, covering 1,682 separate fund positions. Their filings are grouped here into 30 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. No official Form 8-K vote tally has been matched to this meeting, so this page states no certified outcome for its most widely held ballot item. On that item — Amend Bajaj Auto Employee Stock Option Scheme 2019 — the reporting funds and managers cast 95% of the shares they voted in favour (FOR divided by FOR plus AGAINST plus WITHHELD; abstained and unvoted shares are excluded because neither took a side). Fund and manager reports are combined in it and may count the same shares twice: it adds fund reports to institutional-manager reports, which can cover the same shares. It is not the company's certified result.

Download data (CSV): ballot items · votes by manager · column guide.

Compiled from SEC Form N-PX filings. Page generated November 8, 2026.

  • 30Reported items
  • 70Asset managers
  • 1,682Fund votes
  • July 16, 2024Main meeting date

Results at a glance

No official results are on file for this meeting: no Form 8-K tally (Item 5.07) from BAJAJ AUTO LTD. has been matched to it. The figures below are the funds’ own votes from Form N-PX. They are not the meeting result, so they are not used to judge dissent.

Material dissent: a director nominee under 80% of the votes cast, say-on-pay under 70%, any other item the board put forward under 80%, or a shareholder proposal with more than 50%, on the company’s own Form 8-K tally. How this is decided

Proxy season: 2023-2024 2024-2025 2025-2026

Explore BAJAJ AUTO LTD. in the interactive database Compare manager voting policies

How asset managers voted at the BAJAJ AUTO LTD. 2024-2025 meetings

Each item below shows how the 70 asset managers that disclosed a BAJAJ AUTO LTD. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of BAJAJ AUTO LTD.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Elect Sangita Reddy as Director

No official resultsDIRECTOR ELECTIONS

Meeting held August 30, 2024; no official results are on file for this meeting.

99.8% of fund votes cast · no official result

FOR
Details: votes by 46 asset managers

The 46 asset managers below reported 5,928,910 for, 10,225 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 5,928,910AGAINST: 10,225
Largest asset managers voting on “Elect Sangita Reddy as Director” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard2,038,8780 00For
Fidelity922,2080 00For
American Century325,4200 00For
INTERNATIONAL GROWTH & INCOME FUND298,1890 00For
Dimensional252,5810 00For
WisdomTree242,2530 00For
Waddell & Reed210,7530 00For
CAUSEWAY CAPITAL MANAGEMENT TRUST159,9490 00For
Columbia Threadneedle154,0940 00For
DRIEHAUS MUTUAL FUNDS153,7480 00For
Victory Capital135,8090 00For
TIAA135,7100 00For
State Street134,7730 00For
Thrivent91,0480 00For
Morgan Stanley90,1380 00For
MATTHEWS INTERNATIONAL FUNDS81,1850 00For
AllianceBernstein74,3640 00For
Franklin Templeton62,4110 00For
First Trust60,5470 00For
Allspring53,3660 00For
AQR49,2750 00For
Equitable32,6300 00For
Catholic Responsible Investments Funds28,7300 00For
PIMCO21,0570 00For
Northern Trust17,7090 00For

Showing the 25 largest of 46 asset managers. All 46 are in the interactive database (link above).

2. Reelect Pradeep Shrivastava as Director

No official resultsDIRECTOR ELECTIONS

Meeting held July 16, 2024; no official results are on file for this meeting.

83% of fund votes cast · no official result

FORAGAINST
Details: votes by 45 asset managers

The 45 asset managers below reported 4,925,160 for, 990,265 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 4,925,160AGAINST: 990,265
Largest asset managers voting on “Reelect Pradeep Shrivastava as Director” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard2,038,8780 00For
Fidelity347,313572,892 00Mixed
American Century324,9190 00For
INTERNATIONAL GROWTH & INCOME FUND298,1890 00For
Dimensional252,5810 00For
WisdomTree237,3540 00For
Waddell & Reed210,7530 00For
CAUSEWAY CAPITAL MANAGEMENT TRUST155,7440 00For
DRIEHAUS MUTUAL FUNDS153,7480 00For
Columbia Threadneedle0149,835 00Against
Victory Capital137,9620 00For
State Street134,7730 00For
TIAA0134,131 00Against
Thrivent91,0480 00For
Morgan Stanley90,1380 00For
MATTHEWS INTERNATIONAL FUNDS81,0810 00For
AllianceBernstein074,377 00Against
Franklin Templeton60,9290 00For
First Trust59,5990 00For
Allspring54,6410 00For
AQR49,2750 00For
Equitable32,823561 00For
Catholic Responsible Investments Funds028,730 00Against
Northern Trust17,7090 00For
HC CAPITAL TRUST17,3790 00For

Showing the 25 largest of 45 asset managers. All 45 are in the interactive database (link above).

3. Reelect Rakesh Sharma as Director

No official resultsDIRECTOR ELECTIONS

Meeting held July 16, 2024; no official results are on file for this meeting.

99.2% of fund votes cast · no official result

FOR
Details: votes by 45 asset managers

The 45 asset managers below reported 5,868,798 for, 46,627 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 5,868,798AGAINST: 46,627
Largest asset managers voting on “Reelect Rakesh Sharma as Director” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard2,038,8780 00For
Fidelity920,2050 00For
American Century324,9190 00For
INTERNATIONAL GROWTH & INCOME FUND298,1890 00For
Dimensional252,5810 00For
WisdomTree237,3540 00For
Waddell & Reed210,7530 00For
CAUSEWAY CAPITAL MANAGEMENT TRUST155,7440 00For
DRIEHAUS MUTUAL FUNDS153,7480 00For
Columbia Threadneedle149,8350 00For
Victory Capital137,9620 00For
State Street134,7730 00For
TIAA134,1310 00For
Thrivent91,0480 00For
Morgan Stanley90,1380 00For
MATTHEWS INTERNATIONAL FUNDS81,0810 00For
AllianceBernstein74,3770 00For
Franklin Templeton60,9290 00For
First Trust59,5990 00For
Allspring54,6410 00For
AQR49,2750 00For
Equitable33,3840 00For
Catholic Responsible Investments Funds028,730 00Against
Northern Trust17,7090 00For
HC CAPITAL TRUST17,3790 00For

Showing the 25 largest of 45 asset managers. All 45 are in the interactive database (link above).

4. Approve Reappointment and Remuneration of Rajivnayan Rahulkumar Bajaj as Managing Director and Chief Executive Officer

Meeting held April 30, 2025; no official results are on file for this meeting.

11% of fund votes cast · no official result

AGAINST
Details: votes by 34 asset managers

The 34 asset managers below reported 467,824 for, 3,692,182 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 467,824AGAINST: 3,692,182
Largest asset managers voting on “Approve Reappointment and Remuneration of Rajivnayan Rahulkumar Bajaj as Managing Director and Chief Executive” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard02,048,500 00Against
Fidelity0320,233 00Against
Dimensional0240,267 00Against
Principal0230,004 00Against
WisdomTree0188,742 00Against
Columbia Threadneedle0175,786 00Against
American Century165,0590 00For
State Street142,5750 00For
TIAA135,1610 00For
Franklin Templeton070,024 00Against
Morgan Stanley1,87061,673 00Against
First Trust063,281 00Against
Thrivent058,446 00Against
Victory Capital043,452 00Against
Waddell & Reed037,201 00Against
Allspring037,050 00Against
INDIA FUND, INC.030,101 00Against
Equitable56120,869 00Against
Brighthouse19,8520 00For
Northern Trust017,352 00Against
Invesco010,674 00Against
AQR07,317 00Against
Voya06,720 00Against
PRINCIPAL VARIABLE CONTRACTS FUNDS INC06,223 00Against
HC CAPITAL TRUST05,199 00Against

Showing the 25 largest of 34 asset managers. All 34 are in the interactive database (link above).

5. Reelect Abhinav Bindra as Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

96% of fund votes cast · no official result

FOR
Details: votes by 34 asset managers

The 34 asset managers below reported 3,990,099 for, 169,907 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 3,990,099AGAINST: 169,907
Largest asset managers voting on “Reelect Abhinav Bindra as Director” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard2,048,5000 00For
Fidelity320,2330 00For
Dimensional240,2670 00For
Principal230,0040 00For
WisdomTree188,7420 00For
Columbia Threadneedle175,7860 00For
American Century165,0590 00For
State Street142,5750 00For
TIAA0135,161 00Against
Franklin Templeton70,0240 00For
Morgan Stanley63,5430 00For
First Trust63,2810 00For
Thrivent58,4460 00For
Victory Capital43,4520 00For
Waddell & Reed37,2010 00For
Allspring37,0500 00For
INDIA FUND, INC.30,1010 00For
Equitable21,4300 00For
Brighthouse19,8520 00For
Northern Trust017,352 00Against
Invesco010,674 00Against
AQR7,3170 00For
Voya06,720 00Against
PRINCIPAL VARIABLE CONTRACTS FUNDS INC6,2230 00For
HC CAPITAL TRUST5,1990 00For

Showing the 25 largest of 34 asset managers. All 34 are in the interactive database (link above).

6. Re-appointment of shri abhinav bindra (DIN: 00929250) as a non-executive independent director of the company for a…

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

95% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: RE-APPOINTMENT OF SHRI ABHINAV BINDRA (DIN: 00929250) AS A NON-EXECUTIVE INDEPENDENT DIRECTOR OF THE COMPANY FOR A SECOND TERM OF FIVE CONSECUTIVE YEARS WITH EFFECT FROM 20 MAY 2025

The 11 asset managers below reported 1,931,089 for, 106,166 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 1,931,089AGAINST: 106,166
Largest asset managers voting on “RE-APPOINTMENT OF SHRI ABHINAV BINDRA (DIN: 00929250) AS A NON-EXECUTIVE INDEPENDENT DIRECTOR OF THE COMPANY F” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock1,792,2740 00For
JPMorgan0103,537 00Against
HARDING LOEVNER FUNDS INC73,1480 00For
Brown Advisory Funds35,5510 00For
John Hancock16,1920 00For
Jackson National6,5131,359 00Mixed
MASTER INVESTMENT PORTFOLIO4,7620 00For
Touchstone ETF Trust2,2650 00For
Krane Shares Trust01,270 00Against
GPS Funds I3670 00For
UNIFIED SERIES TRUST170 00For

7. Re-appointment of shri rajivnayan rahulkumar BAJAJ (DIN: 00018262) as managing director and chief executive officer of…

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

88% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: RE-APPOINTMENT OF SHRI RAJIVNAYAN RAHULKUMAR BAJAJ (DIN: 00018262) AS MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER OF THE COMPANY FOR A PERIOD OF FIVE YEARS WITH EFFECT FROM 1 APRIL 2025

The 11 asset managers below reported 1,799,322 for, 237,933 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 1,799,322AGAINST: 237,933
Largest asset managers voting on “RE-APPOINTMENT OF SHRI RAJIVNAYAN RAHULKUMAR BAJAJ (DIN: 00018262) AS MANAGING DIRECTOR AND CHIEF EXECUTIVE OF” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock1,792,2740 00For
JPMorgan0103,537 00Against
HARDING LOEVNER FUNDS INC073,148 00Against
Brown Advisory Funds035,551 00Against
John Hancock2,26913,923 00Mixed
Jackson National07,872 00Against
MASTER INVESTMENT PORTFOLIO4,7620 00For
Touchstone ETF Trust02,265 00Against
Krane Shares Trust01,270 00Against
GPS Funds I0367 00Against
UNIFIED SERIES TRUST170 00For

8. Elect Pradeep Shrivastava

No official resultsDIRECTOR ELECTIONS

Meeting held July 16, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: votes by 11 asset managers

The 11 asset managers below reported 422,860 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 422,860
Largest asset managers voting on “Elect Pradeep Shrivastava” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard118,8990 00For
Charles Schwab81,4350 00For
VanEck ETF Trust69,7080 00For
Hartford44,7290 00For
Mercer Funds40,0910 00For
SEI29,6910 00For
Transamerica18,8380 00For
Russell Investments11,4500 00For
Goldman Sachs5,2670 00For
Prudential/PGIM1,8470 00For
Federated Hermes9050 00For

9. Elect Rakesh Sharma

No official resultsDIRECTOR ELECTIONS

Meeting held July 16, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: votes by 11 asset managers

The 11 asset managers below reported 422,860 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 422,860
Largest asset managers voting on “Elect Rakesh Sharma” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard118,8990 00For
Charles Schwab81,4350 00For
VanEck ETF Trust69,7080 00For
Hartford44,7290 00For
Mercer Funds40,0910 00For
SEI29,6910 00For
Transamerica18,8380 00For
Russell Investments11,4500 00For
Goldman Sachs5,2670 00For
Prudential/PGIM1,8470 00For
Federated Hermes9050 00For

10. Re-appointment of pradeep shrivastava, who retires by rotation

No official resultsDIRECTOR ELECTIONS

Meeting held July 16, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: RE-APPOINTMENT OF PRADEEP SHRIVASTAVA, WHO RETIRES BY ROTATION

The 11 asset managers below reported 2,311,278 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 2,311,278
Largest asset managers voting on “RE-APPOINTMENT OF PRADEEP SHRIVASTAVA, WHO RETIRES BY ROTATION” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock2,108,4740 00For
JPMorgan81,8260 00For
Brown Advisory Funds69,8200 00For
John Hancock28,5330 00For
Jackson National10,4020 00For
MASTER INVESTMENT PORTFOLIO5,9420 00For
Advisors' Inner Circle Fund III2,8980 00For
Krane Shares Trust1,3760 00For
GPS Funds I7740 00For
WILSHIRE MUTUAL FUNDS INC7630 00For
HARDING LOEVNER FUNDS INC4700 00For

11. Re-appointment of rakesh sharma, who retires by rotation

No official resultsDIRECTOR ELECTIONS

Meeting held July 16, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: RE-APPOINTMENT OF RAKESH SHARMA, WHO RETIRES BY ROTATION

The 11 asset managers below reported 2,311,278 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 2,311,278
Largest asset managers voting on “RE-APPOINTMENT OF RAKESH SHARMA, WHO RETIRES BY ROTATION” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock2,108,4740 00For
JPMorgan81,8260 00For
Brown Advisory Funds69,8200 00For
John Hancock28,5330 00For
Jackson National10,4020 00For
MASTER INVESTMENT PORTFOLIO5,9420 00For
Advisors' Inner Circle Fund III2,8980 00For
Krane Shares Trust1,3760 00For
GPS Funds I7740 00For
WILSHIRE MUTUAL FUNDS INC7630 00For
HARDING LOEVNER FUNDS INC4700 00For

12. Appointment of DR. sangita reddy (DIN: 00006285) as a non- executive independent director of the company for a term of…

No official resultsDIRECTOR ELECTIONS

Meeting held August 30, 2024; no official results are on file for this meeting.

97% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: APPOINTMENT OF DR. SANGITA REDDY (DIN: 00006285) AS A NON- EXECUTIVE INDEPENDENT DIRECTOR OF THE COMPANY FOR A TERM OF FIVE CONSECUTIVE YEARS WITH EFFECT FROM JULY 16, 2024

The 11 asset managers below reported 2,248,724 for, 71,196 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 2,248,724AGAINST: 71,196
Largest asset managers voting on “APPOINTMENT OF DR. SANGITA REDDY (DIN: 00006285) AS A NON- EXECUTIVE INDEPENDENT DIRECTOR OF THE COMPANY FOR A” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock2,108,8370 00For
JPMorgan88,7650 00For
Brown Advisory Funds069,820 00Against
John Hancock28,4370 00For
Jackson National10,4020 00For
MASTER INVESTMENT PORTFOLIO5,9420 00For
Advisors' Inner Circle Fund III3,8490 00For
Krane Shares Trust01,376 00Against
WILSHIRE MUTUAL FUNDS INC1,2480 00For
GPS Funds I7740 00For
HARDING LOEVNER FUNDS INC4700 00For

13. Elect Sangita Reddy

No official resultsDIRECTOR ELECTIONS

Meeting held August 30, 2024; no official results are on file for this meeting.

57% of fund votes cast · no official result

FORAGAINST
Details: votes by 11 asset managers

The 11 asset managers below reported 236,955 for, 181,537 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 236,955AGAINST: 181,537
Largest asset managers voting on “Elect Sangita Reddy” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard0118,899 00Against
Charles Schwab81,4350 00For
VanEck ETF Trust69,7080 00For
Hartford2,51538,740 00Mixed
Mercer Funds40,0910 00For
SEI29,0040 00For
Transamerica018,631 00Against
Russell Investments11,4500 00For
Goldman Sachs05,267 00Against
Prudential/PGIM1,8470 00For
Federated Hermes9050 00For

14. Appointment of Rajiv Bajaj (Managing Director and CEO); Approval of Remuneration

Meeting held April 30, 2025; no official results are on file for this meeting.

0% of fund votes cast · no official result

AGAINST
Details: votes by 7 asset managers

The 7 asset managers below reported 345,096 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

AGAINST: 345,096
Largest asset managers voting on “Appointment of Rajiv Bajaj (Managing Director and CEO); Approval of Remuneration” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard0131,653 00Against
Charles Schwab081,435 00Against
VanEck ETF Trust061,546 00Against
Hartford049,069 00Against
Russell Investments011,450 00Against
Goldman Sachs09,267 00Against
Federated Hermes0676 00Against

15. Elect Abhinav Bindra

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: votes by 7 asset managers

The 7 asset managers below reported 345,096 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 345,096
Largest asset managers voting on “Elect Abhinav Bindra” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard131,6530 00For
Charles Schwab81,4350 00For
VanEck ETF Trust61,5460 00For
Hartford49,0690 00For
Russell Investments11,4500 00For
Goldman Sachs9,2670 00For
Federated Hermes6760 00For

16. Accept Financial Statements and Statutory Reports

No official resultsCORPORATE GOVERNANCE

Meeting held July 16, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: votes by 45 asset managers

The 45 asset managers below reported 5,915,425 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 5,915,425
Largest asset managers voting on “Accept Financial Statements and Statutory Reports” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard2,038,8780 00For
Fidelity920,2050 00For
American Century324,9190 00For
INTERNATIONAL GROWTH & INCOME FUND298,1890 00For
Dimensional252,5810 00For
WisdomTree237,3540 00For
Waddell & Reed210,7530 00For
CAUSEWAY CAPITAL MANAGEMENT TRUST155,7440 00For
DRIEHAUS MUTUAL FUNDS153,7480 00For
Columbia Threadneedle149,8350 00For
Victory Capital137,9620 00For
State Street134,7730 00For
TIAA134,1310 00For
Thrivent91,0480 00For
Morgan Stanley90,1380 00For
MATTHEWS INTERNATIONAL FUNDS81,0810 00For
AllianceBernstein74,3770 00For
Franklin Templeton60,9290 00For
First Trust59,5990 00For
Allspring54,6410 00For
AQR49,2750 00For
Equitable33,3840 00For
Catholic Responsible Investments Funds28,7300 00For
Northern Trust17,7090 00For
HC CAPITAL TRUST17,3790 00For

Showing the 25 largest of 45 asset managers. All 45 are in the interactive database (link above).

17. Approve Dividend

No official resultsCAPITAL STRUCTURE

Meeting held July 16, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: votes by 45 asset managers

The 45 asset managers below reported 5,915,425 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 5,915,425
Largest asset managers voting on “Approve Dividend” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard2,038,8780 00For
Fidelity920,2050 00For
American Century324,9190 00For
INTERNATIONAL GROWTH & INCOME FUND298,1890 00For
Dimensional252,5810 00For
WisdomTree237,3540 00For
Waddell & Reed210,7530 00For
CAUSEWAY CAPITAL MANAGEMENT TRUST155,7440 00For
DRIEHAUS MUTUAL FUNDS153,7480 00For
Columbia Threadneedle149,8350 00For
Victory Capital137,9620 00For
State Street134,7730 00For
TIAA134,1310 00For
Thrivent91,0480 00For
Morgan Stanley90,1380 00For
MATTHEWS INTERNATIONAL FUNDS81,0810 00For
AllianceBernstein74,3770 00For
Franklin Templeton60,9290 00For
First Trust59,5990 00For
Allspring54,6410 00For
AQR49,2750 00For
Equitable33,3840 00For
Catholic Responsible Investments Funds28,7300 00For
Northern Trust17,7090 00For
HC CAPITAL TRUST17,3790 00For

Showing the 25 largest of 45 asset managers. All 45 are in the interactive database (link above).

18. Accounts and Reports

No official resultsCORPORATE GOVERNANCE

Meeting held July 16, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: votes by 11 asset managers

The 11 asset managers below reported 422,860 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 422,860
Largest asset managers voting on “Accounts and Reports” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard118,8990 00For
Charles Schwab81,4350 00For
VanEck ETF Trust69,7080 00For
Hartford44,7290 00For
Mercer Funds40,0910 00For
SEI29,6910 00For
Transamerica18,8380 00For
Russell Investments11,4500 00For
Goldman Sachs5,2670 00For
Prudential/PGIM1,8470 00For
Federated Hermes9050 00For

19. Allocation of Profits/Dividends

No official resultsCAPITAL STRUCTURE

Meeting held July 16, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: votes by 11 asset managers

The 11 asset managers below reported 422,860 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 422,860
Largest asset managers voting on “Allocation of Profits/Dividends” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard118,8990 00For
Charles Schwab81,4350 00For
VanEck ETF Trust69,7080 00For
Hartford44,7290 00For
Mercer Funds40,0910 00For
SEI29,6910 00For
Transamerica18,8380 00For
Russell Investments11,4500 00For
Goldman Sachs5,2670 00For
Prudential/PGIM1,8470 00For
Federated Hermes9050 00For

20. Declaration of dividend of INR 80 per equity share, for the financial year ended 31 March 2024

No official resultsCAPITAL STRUCTURE

Meeting held July 16, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: DECLARATION OF DIVIDEND OF INR 80 PER EQUITY SHARE, FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

The 11 asset managers below reported 2,311,278 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 2,311,278
Largest asset managers voting on “DECLARATION OF DIVIDEND OF INR 80 PER EQUITY SHARE, FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock2,108,4740 00For
JPMorgan81,8260 00For
Brown Advisory Funds69,8200 00For
John Hancock28,5330 00For
Jackson National10,4020 00For
MASTER INVESTMENT PORTFOLIO5,9420 00For
Advisors' Inner Circle Fund III2,8980 00For
Krane Shares Trust1,3760 00For
GPS Funds I7740 00For
WILSHIRE MUTUAL FUNDS INC7630 00For
HARDING LOEVNER FUNDS INC4700 00For

21. Amend Bajaj Auto Employee Stock Option Scheme 2019

Meeting held July 16, 2024; no official results are on file for this meeting.

95% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 46 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 45 asset managers voting on “Amend Bajaj Auto Employee Stock Option Scheme 2019” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard2,038,8780 00For
Fidelity920,2050 00For
American Century324,9190 00For
INTERNATIONAL GROWTH & INCOME FUND0298,189 00Against
Dimensional252,5810 00For
WisdomTree237,3540 00For
Waddell & Reed210,7530 00For
CAUSEWAY CAPITAL MANAGEMENT TRUST155,7440 00For
DRIEHAUS MUTUAL FUNDS153,7480 00For
Columbia Threadneedle149,8350 00For
Victory Capital137,9620 00For
State Street134,7730 00For
TIAA134,1310 00For
Thrivent91,0480 00For
Morgan Stanley90,1380 00For
MATTHEWS INTERNATIONAL FUNDS81,0810 00For
AllianceBernstein74,3770 00For
Franklin Templeton60,9290 00For
First Trust59,5990 00For
Allspring54,6410 00For
AQR49,2750 00For
Equitable33,3840 00For
Catholic Responsible Investments Funds28,7300 00For
Northern Trust17,7090 00For
HC CAPITAL TRUST17,3790 00For

Fund voting reports, all 45 managers: 5,610,680 for, 304,745 against. Showing the 25 largest; every one is in the interactive database (link above).

Institutional-manager reports: 1 asset manager voting on “Amend Bajaj Auto Employee Stock Option Scheme 2019” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
APG Asset Management US Inc.248,3140 00For

Institutional-manager reports, all 1 managers: 248,314 for.

22. Approve Extension of Benefits and Grant of Options to the Employee(s) of Associate and Group Company(ies), if any, in…

Meeting held July 16, 2024; no official results are on file for this meeting.

56% of fund votes cast · no official result

FORAGAINST
Details: description as filed, votes by 45 asset managers

Description as filed by funds: Approve Extension of Benefits and Grant of Options to the Employee(s) of Associate and Group Company(ies), if any, in Addition to Holding and Subsidiary Company(ies) under Bajaj Auto Employee Stock Option Scheme 2019

The 45 asset managers below reported 3,320,349 for, 2,595,076 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 3,320,349AGAINST: 2,595,076
Largest asset managers voting on “Approve Extension of Benefits and Grant of Options to the Employee(s) of Associate and Group Company(ies), if ” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard2,038,8780 00For
Fidelity879,01941,186 00For
American Century0324,919 00Against
INTERNATIONAL GROWTH & INCOME FUND0298,189 00Against
Dimensional252,5810 00For
WisdomTree0237,354 00Against
Waddell & Reed0210,753 00Against
CAUSEWAY CAPITAL MANAGEMENT TRUST0155,744 00Against
DRIEHAUS MUTUAL FUNDS0153,748 00Against
Columbia Threadneedle0149,835 00Against
Victory Capital0137,962 00Against
State Street134,7730 00For
TIAA0134,131 00Against
Thrivent091,048 00Against
Morgan Stanley090,138 00Against
MATTHEWS INTERNATIONAL FUNDS081,081 00Against
AllianceBernstein074,377 00Against
Franklin Templeton060,929 00Against
First Trust059,599 00Against
Allspring054,641 00Against
AQR049,275 00Against
Equitable033,384 00Against
Catholic Responsible Investments Funds028,730 00Against
Northern Trust017,709 00Against
HC CAPITAL TRUST017,379 00Against

Showing the 25 largest of 45 asset managers. All 45 are in the interactive database (link above).

23. Approval to extend the BAJAJ AUTO employee stock option scheme 2019 to the employee(s) of associate and group…

No official resultsCAPITAL STRUCTURE

Meeting held July 16, 2024; no official results are on file for this meeting.

4% of fund votes cast · no official result

AGAINST
Details: description as filed, votes by 11 asset managers

Description as filed by funds: APPROVAL TO EXTEND THE BAJAJ AUTO EMPLOYEE STOCK OPTION SCHEME 2019 TO THE EMPLOYEE(S) OF ASSOCIATE AND GROUP COMPANY(IES) IN ADDITION TO HOLDING AND SUBSIDIARY COMPANY(IES)

The 11 asset managers below reported 84,323 for, 2,226,955 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 84,323AGAINST: 2,226,955
Largest asset managers voting on “APPROVAL TO EXTEND THE BAJAJ AUTO EMPLOYEE STOCK OPTION SCHEME 2019 TO THE EMPLOYEE(S) OF ASSOCIATE AND GROUP ” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock02,108,474 00Against
JPMorgan081,826 00Against
Brown Advisory Funds69,8200 00For
John Hancock8,99619,537 00Mixed
Jackson National010,402 00Against
MASTER INVESTMENT PORTFOLIO05,942 00Against
Advisors' Inner Circle Fund III2,8980 00For
Krane Shares Trust1,3760 00For
GPS Funds I0774 00Against
WILSHIRE MUTUAL FUNDS INC7630 00For
HARDING LOEVNER FUNDS INC4700 00For

24. Amendment to the Bajaj Auto Employee Stock Option Scheme 2019

Meeting held July 16, 2024; no official results are on file for this meeting.

99.3% of fund votes cast · no official result

FOR
Details: votes by 11 asset managers

The 11 asset managers below reported 420,296 for, 2,564 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 420,296AGAINST: 2,564
Largest asset managers voting on “Amendment to the Bajaj Auto Employee Stock Option Scheme 2019” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard118,8990 00For
Charles Schwab81,4350 00For
VanEck ETF Trust69,7080 00For
Hartford42,1652,564 00Mixed
Mercer Funds40,0910 00For
SEI29,6910 00For
Transamerica18,8380 00For
Russell Investments11,4500 00For
Goldman Sachs5,2670 00For
Prudential/PGIM1,8470 00For
Federated Hermes9050 00For

25. Extension of Bajaj Auto Employee Stock Option Scheme 2019 to Employees of Associate and Group Companies in Addition to…

Meeting held July 16, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: Extension of Bajaj Auto Employee Stock Option Scheme 2019 to Employees of Associate and Group Companies in Addition to Holding and Subsidiary Companies

The 11 asset managers below reported 422,860 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 422,860
Largest asset managers voting on “Extension of Bajaj Auto Employee Stock Option Scheme 2019 to Employees of Associate and Group Companies in Add” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard118,8990 00For
Charles Schwab81,4350 00For
VanEck ETF Trust69,7080 00For
Hartford44,7290 00For
Mercer Funds40,0910 00For
SEI29,6910 00For
Transamerica18,8380 00For
Russell Investments11,4500 00For
Goldman Sachs5,2670 00For
Prudential/PGIM1,8470 00For
Federated Hermes9050 00For

26. Modification to the BAJAJ AUTO employee stock option scheme 2019

No official resultsCAPITAL STRUCTURE

Meeting held July 16, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: MODIFICATION TO THE BAJAJ AUTO EMPLOYEE STOCK OPTION SCHEME 2019

The 11 asset managers below reported 2,311,278 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 2,311,278
Largest asset managers voting on “MODIFICATION TO THE BAJAJ AUTO EMPLOYEE STOCK OPTION SCHEME 2019” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock2,108,4740 00For
JPMorgan81,8260 00For
Brown Advisory Funds69,8200 00For
John Hancock28,5330 00For
Jackson National10,4020 00For
MASTER INVESTMENT PORTFOLIO5,9420 00For
Advisors' Inner Circle Fund III2,8980 00For
Krane Shares Trust1,3760 00For
GPS Funds I7740 00For
WILSHIRE MUTUAL FUNDS INC7630 00For
HARDING LOEVNER FUNDS INC4700 00For

27. Approve Remuneration of Cost Auditors

No official resultsCOMPENSATIONCORPORATE GOVERNANCE

Meeting held July 16, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: votes by 45 asset managers

The 45 asset managers below reported 5,915,425 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 5,915,425
Largest asset managers voting on “Approve Remuneration of Cost Auditors” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard2,038,8780 00For
Fidelity920,2050 00For
American Century324,9190 00For
INTERNATIONAL GROWTH & INCOME FUND298,1890 00For
Dimensional252,5810 00For
WisdomTree237,3540 00For
Waddell & Reed210,7530 00For
CAUSEWAY CAPITAL MANAGEMENT TRUST155,7440 00For
DRIEHAUS MUTUAL FUNDS153,7480 00For
Columbia Threadneedle149,8350 00For
Victory Capital137,9620 00For
State Street134,7730 00For
TIAA134,1310 00For
Thrivent91,0480 00For
Morgan Stanley90,1380 00For
MATTHEWS INTERNATIONAL FUNDS81,0810 00For
AllianceBernstein74,3770 00For
Franklin Templeton60,9290 00For
First Trust59,5990 00For
Allspring54,6410 00For
AQR49,2750 00For
Equitable33,3840 00For
Catholic Responsible Investments Funds28,7300 00For
Northern Trust17,7090 00For
HC CAPITAL TRUST17,3790 00For

Showing the 25 largest of 45 asset managers. All 45 are in the interactive database (link above).

28. Adoption of audited standalone and consolidated financial statements of the company for the financial year ended 31…

No official resultsAUDIT-RELATED

Meeting held July 16, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: ADOPTION OF AUDITED STANDALONE AND CONSOLIDATED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024 AND DIRECTORS' AND AUDITORS' REPORTS THEREON

The 11 asset managers below reported 2,311,278 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 2,311,278
Largest asset managers voting on “ADOPTION OF AUDITED STANDALONE AND CONSOLIDATED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR END” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock2,108,4740 00For
JPMorgan81,8260 00For
Brown Advisory Funds69,8200 00For
John Hancock28,5330 00For
Jackson National10,4020 00For
MASTER INVESTMENT PORTFOLIO5,9420 00For
Advisors' Inner Circle Fund III2,8980 00For
Krane Shares Trust1,3760 00For
GPS Funds I7740 00For
WILSHIRE MUTUAL FUNDS INC7630 00For
HARDING LOEVNER FUNDS INC4700 00For

29. Approve Payment of Fees to Cost Auditors

No official resultsAUDIT-RELATED

Meeting held July 16, 2024; no official results are on file for this meeting.

99.7% of fund votes cast · no official result

FOR
Details: votes by 11 asset managers

The 11 asset managers below reported 421,955 for, 905 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 421,955AGAINST: 905
Largest asset managers voting on “Approve Payment of Fees to Cost Auditors” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard118,8990 00For
Charles Schwab81,4350 00For
VanEck ETF Trust69,7080 00For
Hartford44,7290 00For
Mercer Funds40,0910 00For
SEI29,6910 00For
Transamerica18,8380 00For
Russell Investments11,4500 00For
Goldman Sachs5,2670 00For
Prudential/PGIM1,8470 00For
Federated Hermes0905 00Against

30. Ratification of the remuneration to the cost auditor

No official resultsAUDIT-RELATED

Meeting held July 16, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: RATIFICATION OF THE REMUNERATION TO THE COST AUDITOR

The 11 asset managers below reported 2,311,278 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 2,311,278
Largest asset managers voting on “RATIFICATION OF THE REMUNERATION TO THE COST AUDITOR” at BAJAJ AUTO LTD., 2024-2025
Asset managerForAgainst AbstainWithheldVote
BlackRock2,108,4740 00For
JPMorgan81,8260 00For
Brown Advisory Funds69,8200 00For
John Hancock28,5330 00For
Jackson National10,4020 00For
MASTER INVESTMENT PORTFOLIO5,9420 00For
Advisors' Inner Circle Fund III2,8980 00For
Krane Shares Trust1,3760 00For
GPS Funds I7740 00For
WILSHIRE MUTUAL FUNDS INC7630 00For
HARDING LOEVNER FUNDS INC4700 00For

Largest BAJAJ AUTO LTD. shareholders voting in 2024-2025

Ranked separately for each type of Form N-PX report. An institutional manager can report shares that a fund it advises also reports, so the two tables can list the same shares and are never added together. Each is ranked by the shares voted on the item that the most managers of that type reported.

Fund voting reports: top BAJAJ AUTO LTD. shareholders by shares voted on “Elect Sangita Reddy as Director”, 2024-2025
#Asset manager Shares voted
1Vanguard 2,038,878
2Fidelity 922,208
3American Century 325,420
4INTERNATIONAL GROWTH & INCOME FUND 298,189
5Dimensional 252,581
6WisdomTree 242,253
7Waddell & Reed 210,753
8CAUSEWAY CAPITAL MANAGEMENT TRUST 159,949
9Columbia Threadneedle 154,094
10DRIEHAUS MUTUAL FUNDS 153,748
Institutional-manager reports: top BAJAJ AUTO LTD. shareholders by shares voted on “Amend Bajaj Auto Employee Stock Option Scheme 2019”, 2024-2025
#Asset manager Shares voted
1APG Asset Management US Inc. 248,314

Shown as share counts, not percentages: no shares-outstanding figure has been matched to BAJAJ AUTO LTD. for the 2024-2025 season, so there is no denominator to divide by.

Related

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered funds disclose how they voted every proxy and institutional managers disclose their votes on executive pay (say-on-pay, say-on-frequency and golden parachutes), and Form 8-K Item 5.07, in which the company reports its own meeting results. This page is a static snapshot rebuilt weekly on November 8, 2026; a live search always shows the current data.

BAJAJ AUTO LTD. proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.

Cite this page

proxyvotesnow.com, “BAJAJ AUTO LTD. 2024-2025 Shareholder Meetings: Vote Results”, https://proxyvotesnow.com/company/bajaj-auto-ltd/2025 (version of November 9, 2026). Derived from SEC Form N-PX and Form 8-K filings; tables licensed CC BY 4.0. Licence: CC BY 4.0.