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Goldman Sachs 2025-2026: where it broke with the board

At least 6,000 proposals in the 2025-2026 proxy season: Goldman Sachs voted against, or withheld its votes from, at least 6,000 proposals put forward by company boards, and voted for 0 shareholder proposals, by its own Form N-PX filings.

Two kinds of vote are listed: a board-sponsored proposal Goldman Sachs voted AGAINST or withheld on, and a shareholder proposal it voted FOR, with the board’s recommendation on it where the filings show one. A FOR vote on a proposal the board supported, or took no position on, is listed and labelled, but it is not a vote against the board. One row is one proposal at one meeting; “funds” is how many of the manager’s funds or accounts voted that way.

Everything Only shareholder proposals it backed

6,000 proposals. The board-sponsored half of this list keeps the 6,000 proposals with the most funds behind them; the rest are in the interactive database. Every shareholder proposal it backed is listed in full.

Goldman Sachs, 2025-2026 proxy season. Who put a proposal on the ballot is taken from the filer’s own N-PX answer (Item 1(h)), or, marked “inferred”, from its category and wording where the filing does not say; see how we count these.
CompanyMeetingProposalCategory On the ballot fromBoard recommendedGoldman Sachs votedFunds
Titan America SA May 5, 2026 Reelect Marcel-Constantin Cobuz as Director Director Elections Board AGAINST 2
Titan America SA May 5, 2026 Reelect Michael Colakides as Director Director Elections Board AGAINST 2
Titan Company Limited July 22, 2025 Reelect Mariam Pallavi Baldev as Director Director Elections Board AGAINST 2
Toda Corp. June 26, 2026 Elect Director Imai, Masanori Director Elections Board AGAINST 2
Toda Corp. June 26, 2026 Elect Director Otani, Seisuke Director Elections Board AGAINST 2
Toei Animation Co., Ltd. June 23, 2026 Elect Director Morishita, Kozo Director Elections Board AGAINST 2
Toei Animation Co., Ltd. June 23, 2026 Elect Director Takagi, Katsuhiro Director Elections Board AGAINST 2
Tokyo Electric Power Co. Holdings, Inc. June 25, 2026 Elect Director Kobayakawa, Tomoaki Director Elections Board AGAINST 2
Tokyo Electric Power Co. Holdings, Inc. June 25, 2026 Elect Director Onishi, Shoichiro Director Elections Board AGAINST 2
Tokyo Electric Power Co. Holdings, Inc. June 25, 2026 Elect Director Yoshino, Shigehiro Director Elections Board AGAINST 2
TongFu Microelectronics Co., Ltd. May 8, 2026 Approve Signing of Credit Line Agreement and Provision of Guarantee Capital Structure Board AGAINST 2
Tongcheng Travel Holdings Limited June 16, 2026 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights Capital Structure Board AGAINST 2
Tongcheng Travel Holdings Limited June 16, 2026 Approve PricewaterhouseCoopers as Auditors and Authorize Board to Fix Their Remuneration Audit-related Board AGAINST 2
Tonghua Dongbao Pharmaceutical Co., Ltd. September 18, 2025 Approve Authorization of the Board to Handle All Related Matters Compensation Board AGAINST 2
Tonghua Dongbao Pharmaceutical Co., Ltd. September 18, 2025 Approve Draft and Summary on Employee Share Purchase Plan Compensation Board AGAINST 2
Tonghua Dongbao Pharmaceutical Co., Ltd. September 18, 2025 Approve Management Measures for Employee Share Purchase Plan Compensation Board AGAINST 2
Tonghua Dongbao Pharmaceutical Co., Ltd. December 15, 2025 Approve Financial Assistance Provision Capital Structure Board AGAINST 2
Tongkun Group Co., Ltd. May 20, 2026 Approve 2025 and 2026 Remuneration of Directors Compensation Board AGAINST 2
Tongkun Group Co., Ltd. May 20, 2026 Approve Authorization on Total Financing Credit Limit Capital Structure Board AGAINST 2
Tongkun Group Co., Ltd. May 20, 2026 Approve Guarantee Provision Capital Structure Board AGAINST 2
Topsports International Holdings Limited July 18, 2025 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights Capital Structure Board AGAINST 2
Topsports International Holdings Limited July 18, 2025 Authorize Reissuance of Repurchased Shares Capital Structure Board AGAINST 2
Toray Industries, Inc. June 24, 2026 Elect Director Nikkaku, Akihiro Director Elections Board AGAINST 2
Toray Industries, Inc. June 24, 2026 Elect Director Oya, Mitsuo Director Elections Board AGAINST 2
Torunlar Gayrimenkul Yatirim Ortakligi AS May 15, 2026 Approve Director Remuneration Compensation Board AGAINST 2
Toyo Seikan Group Holdings Ltd. June 26, 2026 Elect Director Nakamura, Takuji Director Elections Board AGAINST 2
Toyo Seikan Group Holdings Ltd. June 26, 2026 Elect Director Otsuka, Ichio Director Elections Board AGAINST 2
TravelSky Technology Limited June 26, 2026 Approve Allocation of Profit and the Distribution of Final Dividend Capital Structure Board AGAINST 2
Treasury Wine Estates Limited October 16, 2025 Elect John Mullen as Director Director Elections Board AGAINST 2
Trent Limited May 27, 2026 Approve Extension of Benefits under Trent Limited - Employee Stock Option Plan 2026 to Employees of the Group Company(ies) Including Subsidiary and/or Associate Company(ies) Compensation Board AGAINST 2
Trent Limited May 27, 2026 Approve Trent Limited - Employee Stock Option Plan 2026 Compensation Board AGAINST 2
Trex Company, Inc. April 28, 2026 Non-binding advisory vote on executive compensation ("say-on-pay") Say-on-Pay Board (inferred) AGAINST 2
Trina Solar Co., Ltd. August 14, 2025 Approve Downward Adjustment on Conversion Price of Convertible Bonds Capital Structure Board AGAINST 2
Trina Solar Co., Ltd. December 29, 2025 Approve Comprehensive Financing and Provision of Guarantee Capital Structure Board AGAINST 2
Trina Solar Co., Ltd. February 9, 2026 Approve Authorization of the Board to Handle All Matters Related to the Employee Share Purchase Plan Compensation Board AGAINST 2
Trina Solar Co., Ltd. February 9, 2026 Approve Draft and Summary on Employee Share Purchase Plan Compensation Board AGAINST 2
Trina Solar Co., Ltd. February 9, 2026 Approve Management Measures for Employee Share Purchase Plan Compensation Board AGAINST 2
Tsinghua Tongfang Co., Ltd. May 21, 2026 Approve Guarantee Plan Capital Structure Board AGAINST 2
Turk Hava Yollari AO April 9, 2026 Approve Director Remuneration Compensation Board AGAINST 2
Turk Hava Yollari AO April 9, 2026 Ratify External Auditors Audit-related Board AGAINST 2
Turk Telekomunikasyon AS April 9, 2026 Approve Director Remuneration Compensation Board AGAINST 2
Turkiye Halk Bankasi AS April 9, 2026 Approve Remuneration of Directors and Internal Auditors Compensation Board AGAINST 2
Turkiye Halk Bankasi AS April 9, 2026 Elect Board of Directors and Internal Auditors Director Elections Board AGAINST 2
Turkiye Is Bankasi AS March 31, 2026 Approve Director Remuneration Compensation Board AGAINST 2
Turkiye Is Bankasi AS March 31, 2026 Elect Directors Director Elections Board AGAINST 2
Two Point Zero Group PJSC March 12, 2026 Approve Remuneration of Directors for the Fiscal Year Ended 31/12/2025 Compensation Board AGAINST 2
Ubisoft Entertainment SA July 10, 2025 Approve Issuance of Equity or Equity-Linked Securities for Private Placements, up to Aggregate Nominal Amount of EUR 1 Million Capital Structure Board AGAINST 2
Ubisoft Entertainment SA July 10, 2025 Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 1 Million Capital Structure Board AGAINST 2
Ubisoft Entertainment SA July 10, 2025 Reelect Christian Guillemot as Director Director Elections Board AGAINST 2
Ubisoft Entertainment SA July 10, 2025 Reelect Michel Guillemot as Director Director Elections Board AGAINST 2
Ulker Biskuvi Sanayi AS June 8, 2026 Amend Articles 7: Capital Related Capital Structure Board AGAINST 2
Ultra Clean Holdings, Inc. May 22, 2026 Election of Directors: David T. ibnAle Director Elections Board AGAINST 2
Ultra Clean Holdings, Inc. May 22, 2026 Election of Directors: Emily M. Liggett Director Elections Board AGAINST 2
Under Armour, Inc. September 3, 2025 Election of Directors: Kevin A. Plank Director Elections Board WITHHOLD 2
Uni-President China Holdings Ltd. June 5, 2026 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights Capital Structure Board AGAINST 2
Uni-President China Holdings Ltd. June 5, 2026 Approve PricewaterhouseCoopers as Auditors and Authorize Board to Fix Their Remuneration Audit-related Board AGAINST 2
Uni-President China Holdings Ltd. June 5, 2026 Authorize Reissuance of Repurchased Shares Capital Structure Board AGAINST 2
Uni-President China Holdings Ltd. June 5, 2026 Elect Lo Chih-Hsien as Director Director Elections Board AGAINST 2
Unicharm Corp. March 19, 2026 Elect Director Takahara, Takahisa Director Elections Board AGAINST 2
Unigroup Guoxin Microelectronics Co., Ltd. October 20, 2025 Approve Authorization of the Board to Handle All Related Matters Compensation Board AGAINST 2
Unigroup Guoxin Microelectronics Co., Ltd. October 20, 2025 Approve Draft and Summary of Stock Option Incentive Plan Compensation Board AGAINST 2
Unigroup Guoxin Microelectronics Co., Ltd. October 20, 2025 Approve Methods to Assess the Performance of Plan Participants Compensation Board AGAINST 2
Unisound AI Technology Co., Ltd. December 10, 2025 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights Capital Structure Board AGAINST 2
United Parks & Resorts Inc. September 3, 2025 To grant the Board of Directors of United Parks & Resorts Inc. (the "Company") the authority to approve and implement additional repurchases of shares of the Company's common stock, subject to the qualification that the Company will not repurchase additional shares if Hill Path Capital LP's ("Hill Path") common stock ownership interest percentage would, as a result of any such repurchase, equal or exceed 70% (excluding Hill Path's and its affiliates' non-voting derivative positions). Capital Structure Board AGAINST 2
United Spirits Limited August 29, 2025 Elect Mark Dominic Sandys as Director Director Elections Board AGAINST 2
Unitika Ltd. June 26, 2026 Elect Director Fujii, Minoru Director Elections Board AGAINST 2
Universal Corporation August 5, 2025 Election of Directors: Fotini E. Manolios (3-year Term) Director Elections Board WITHHOLD 2
Universal Corporation August 5, 2025 Election of Directors: Lennart R. Freeman (3-year term) Director Elections Board WITHHOLD 2
Universal Corporation August 5, 2025 Election of Directors: Preston D. Wigner (3-year Term) Director Elections Board WITHHOLD 2
Universal Scientific Industrial (Shanghai) Co., Ltd. September 12, 2025 Amend Rules for Meetings of Convertible Corporate Bond Holders Capital Structure Board AGAINST 2
Upwork Inc. June 4, 2026 Advisory vote to approve named executive officer compensation. Say-on-Pay Board AGAINST 2
VAT Group AG April 28, 2026 Ratify KPMG AG as Auditors Audit-related Board AGAINST 2
VERIZON COMMUNICATIONS INC. May 21, 2026 Advisory vote to approve executive compensation Say-on-Pay Board AGAINST 2
Vallourec SA May 21, 2026 Authorize Capital Increase of Up to EUR 457,857 for Future Exchange Offers Capital Structure Board AGAINST 2
Vallourec SA May 21, 2026 Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind Capital Structure Board AGAINST 2
Vallourec SA May 21, 2026 Ratify Appointment of David Clarke as Director Director Elections Board AGAINST 2
Vallourec SA May 21, 2026 Reelect Angela Minas as Director Director Elections Board AGAINST 2
Vallourec SA May 21, 2026 Reelect Hera Siu as Director Director Elections Board AGAINST 2
Valneva SE June 25, 2026 Approve Compensation of Dipal Patel, Vice-CEO until June 25, 2025 Say-on-Pay Board (inferred) AGAINST 2
Valneva SE June 25, 2026 Approve Compensation of Franck Grimaud, Vice-CEO until June 25, 2025 Say-on-Pay Board (inferred) AGAINST 2
Valneva SE June 25, 2026 Approve Compensation of Juan Carlos Jaramillo, Vice-CEO until June 25, 2025 Say-on-Pay Board (inferred) AGAINST 2
Valneva SE June 25, 2026 Approve Compensation of Peter Buhler, Vice-CEO until June 25, 2025 Say-on-Pay Board (inferred) AGAINST 2
Valneva SE June 25, 2026 Approve Compensation of Thomas Lingelbach, CEO Say-on-Pay Board (inferred) AGAINST 2
Varun Beverages Limited April 1, 2026 Approve Continuation of Directorship of Abhiram Seth as a Non-Executive Independent Director Director Elections Board AGAINST 2
Vedanta Limited July 10, 2025 Approve Reappointment and Remuneration of Arun Misra as Executive Director Compensation Board AGAINST 2
Verint Systems Inc. November 18, 2025 Approval, on a non-binding, advisory basis, of certain compensation that may be paid or become payable to Verint's named executive officers in connection with the Merger. Say-on-Pay Board AGAINST 2
Verisilicon Microelectronics (Shanghai) Co., Ltd. July 30, 2025 Approve Remuneration of Directors Compensation Board AGAINST 2
Verisilicon Microelectronics (Shanghai) Co., Ltd. April 29, 2026 Approve Remuneration of Directors Compensation Board AGAINST 2
Victory Giant Technology (HuiZhou) Co., Ltd. June 29, 2026 Approve Grant of General Mandate to Issue Shares (Including Sale or Transfer of Treasury Shares) Capital Structure Board AGAINST 2
Vidrala SA April 29, 2026 Advisory Vote on Remuneration Report Compensation Board AGAINST 2
Vidrala SA April 29, 2026 Approve Remuneration Policy Compensation Board AGAINST 2
Vidrala SA April 29, 2026 Reelect Gillian Anne Watson as Director Director Elections Board AGAINST 2
Village Super Market, Inc. December 12, 2025 Election of Directors: John J. Sumas Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: John P. Sumas Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: Kevin Begley Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: Nicholas Sumas Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: Perry Blatt Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: Prasad Pola Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: Robert Sumas Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: Stephen F. Rooney Director Elections Board WITHHOLD 2

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Built November 8, 2026 from SEC Form N-PX filings.