Home › Asset managers › Northern Trust › 2025-2026 › Against the board
At least 6,093 proposals in the 2025-2026 proxy season: Northern Trust voted against, or withheld its votes from, at least 6,000 proposals put forward by company boards, and voted for 93 shareholder proposals, by its own Form N-PX filings.
Two kinds of vote are listed: a board-sponsored proposal Northern Trust 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
6,093 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.
| Company | Meeting | Proposal | Category | On the ballot from | Board recommended | Northern Trust voted | Funds |
|---|---|---|---|---|---|---|---|
| Kubota Corp. | March 19, 2026 | Elect Director Kitao, Yuichi | Director Elections | Board | AGAINST | 2 | |
| Kuehne + Nagel International AG | May 6, 2026 | Reappoint Hauke Stars as Member of the Compensation Committee | Director Elections | Board | AGAINST | 2 | |
| Kuehne + Nagel International AG | May 6, 2026 | Reappoint Karl Gernandt as Member of the Compensation Committee | Director Elections | Board | AGAINST | 2 | |
| Kuehne + Nagel International AG | May 6, 2026 | Reappoint Tobias Staehelin as Member of the Compensation Committee | Director Elections | Board | AGAINST | 2 | |
| Kuehne + Nagel International AG | May 6, 2026 | Reelect Dominik de Daniel as Director | Director Elections | Board | AGAINST | 2 | |
| Kuehne + Nagel International AG | May 6, 2026 | Reelect Hauke Stars as Director | Director Elections | Board | AGAINST | 2 | |
| Kuehne + Nagel International AG | May 6, 2026 | Reelect Karl Gernandt as Director | Director Elections | Board | AGAINST | 2 | |
| Kuehne + Nagel International AG | May 6, 2026 | Reelect Tobias Staehelin as Director | Director Elections | Board | AGAINST | 2 | |
| Kweichow Moutai Co., Ltd. | June 11, 2026 | Approve to Formulate Management Measures for Remuneration and Performance Evaluation of Directors and Senior Management | Compensation | Board | AGAINST | 2 | |
| L&T Finance Limited | May 29, 2026 | Reelect S. N. Subrahmanyan as Director | Director Elections | Board | AGAINST | 2 | |
| L'Oreal SA | April 24, 2026 | Elect Anna Lenz as Director | Director Elections | Board | AGAINST | 2 | |
| L'Oreal SA | April 24, 2026 | Elect Christel Bories as Director | Director Elections | Board | AGAINST | 2 | |
| L'Oreal SA | April 24, 2026 | Elect Pablo Isla as Director | Director Elections | Board | AGAINST | 2 | |
| LAKE SHORE BANCORP, INC | May 20, 2026 | Approve, on an advisory basis, a non-binding resolution regarding the compensation of our named executive officers. | Say-on-Pay | Board | AGAINST | 2 | |
| LAMDA Development SA | June 23, 2026 | Advisory Vote on Remuneration Report | Compensation | Board | AGAINST | 2 | |
| LAMDA Development SA | June 23, 2026 | Amend Remuneration Policy | Compensation | Board | AGAINST | 2 | |
| LANDBRIDGE COMPANY LLC | June 18, 2026 | To approve, on an advisory, non-binding basis, the compensation of LandBridge's named executive officers (''Named Executive Officers''); | Say-on-Pay | Board | AGAINST | 2 | |
| LANZATECH GLOBAL, INC. | July 28, 2025 | To approve, on an advisory (non-binding) basis, the compensation of our named executive officers. | Say-on-Pay | Board | AGAINST | 2 | |
| LARGAN Precision Co., Ltd. | June 9, 2026 | Approve Issuance of Restricted Stocks | Compensation | Board | AGAINST | 2 | |
| LATAM Airlines Group SA | October 17, 2025 | Amend Articles to Reflect Changes in Capital | Capital Structure | Board | AGAINST | 2 | |
| LB Group Co., Ltd. | December 19, 2025 | Approve Application of Bank Credit Lines | Capital Structure | Board | AGAINST | 2 | |
| LB Group Co., Ltd. | December 19, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 2 | |
| LE Lundbergforetagen AB | April 20, 2026 | Reelect Carl Bennet, Sofia Frandberg, Louise Lindh, Fredrik Lundberg, Katarina Martinson, Krister Mattsson, Sten Peterson, Lars Pettersson and Bo Selling (Chair) as Directors | Director Elections | Board | AGAINST | 2 | |
| LEENO INDUSTRIAL, Inc. | March 26, 2026 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 2 | |
| LONGi Green Energy Technology Co., Ltd. | December 26, 2025 | Approve Estimated Guarantee Amount Between Company and Subsidiaries | Capital Structure | Board | AGAINST | 2 | |
| LONGi Green Energy Technology Co., Ltd. | December 26, 2025 | Approve Provision of Guarantee to Xi'an LONGi Hydrogen Energy Technology Co., Ltd. | Capital Structure | Board | AGAINST | 2 | |
| LONGi Green Energy Technology Co., Ltd. | December 26, 2025 | Approve Use of Funds for Entrusted Asset Management | Extraordinary Transactions | Board | AGAINST | 2 | |
| LONGi Green Energy Technology Co., Ltd. | May 22, 2026 | Approve Provision of Guarantees | Capital Structure | Board | AGAINST | 2 | |
| LOVISA HOLDINGS LTD | November 21, 2025 | ADOPTION OF REMUNERATION REPORT | Say-on-Pay | Board | AGAINST | 2 | |
| LS Electric Co., Ltd. | March 26, 2026 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 2 | |
| LSB Industries, Inc. | May 21, 2026 | Election of Directors: Lynn F. White | Director Elections | Board | AGAINST | 2 | |
| LTM Ltd. | June 1, 2026 | Approve Appointment and Remuneration of Vipul Chandra as Whole-Time Director | Compensation | Board | AGAINST | 2 | |
| LTM Ltd. | June 1, 2026 | Reelect James Abraham as Director | Director Elections | Board | AGAINST | 2 | |
| LTM Ltd. | June 1, 2026 | Reelect R. Shankar Raman as Director | Director Elections | Board | AGAINST | 2 | |
| Landis+Gyr Group AG | June 26, 2026 | Reappoint Fabian Rauch as Member of the Compensation Committee | Director Elections | Board | AGAINST | 2 | |
| Landis+Gyr Group AG | June 26, 2026 | Reelect Fabian Rauch as Director | Director Elections | Board | AGAINST | 2 | |
| Larimar Therapeutics, Inc. | May 19, 2026 | Election of Class III Directors for a Three-Year Term Expiring in 2029: Joseph Truitt | Director Elections | Board | WITHHOLD | 2 | |
| Lazard, Inc. | May 21, 2026 | Approval of the amendment to the Lazard Inc. 2018 Incentive Compensation Plan. | Compensation | Board | AGAINST | 2 | |
| Lazard, Inc. | May 21, 2026 | Election of Directors: Iris Knobloch | Director Elections | Board | WITHHOLD | 2 | |
| Lendlease Global Commercial REIT | October 29, 2025 | Elect Justin Marco Gabbani as Director | Director Elections | Board | AGAINST | 2 | |
| Lennar Corporation | April 8, 2026 | Elect nine directors to serve until the 2027 Annual Meeting of Stockholders: Jeffrey Sonnenfeld | Director Elections | Board | AGAINST | 2 | |
| Lenovo Group Limited | July 17, 2025 | Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights | Capital Structure | Board | AGAINST | 2 | |
| Lenovo Group Limited | July 17, 2025 | Authorize Reissuance of Repurchased Shares | Capital Structure | Board | AGAINST | 2 | |
| Lenovo Group Limited | July 17, 2025 | Elect Laura Green Quatela as Director | Director Elections | Board | AGAINST | 2 | |
| Lenovo Group Limited | July 17, 2025 | Elect Wong Wai Ming as Director | Director Elections | Board | AGAINST | 2 | |
| Lenovo Group Limited | July 17, 2025 | Elect Yang Yuanqing as Director | Director Elections | Board | AGAINST | 2 | |
| Leo Group Co., Ltd. | May 19, 2026 | Approve Credit Scale and Guarantee Amount | Capital Structure | Board | AGAINST | 2 | |
| Leo Group Co., Ltd. | May 19, 2026 | Approve Use of Funds for Cash Management | Extraordinary Transactions | Board | AGAINST | 2 | |
| Leopalace21 Corp. | June 25, 2026 | Elect Director Miyao, Bunya | Director Elections | Board | AGAINST | 2 | |
| Li Auto Inc. | May 29, 2026 | Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights | Capital Structure | Board | AGAINST | 2 | |
| Li Auto Inc. | May 29, 2026 | Approve PricewaterhouseCoopers and PricewaterhouseCoopers Zhong Tian LLP as Independent Auditors and Authorize Board to Fix Their Remuneration | Audit-related | Board | AGAINST | 2 | |
| Li Auto Inc. | May 29, 2026 | Authorize Reissuance of Repurchased Shares | Capital Structure | Board | AGAINST | 2 | |
| Li Auto Inc. | May 29, 2026 | Elect Zhao Hongqiang as Director | Director Elections | Board | AGAINST | 2 | |
| Liberty Latin America Ltd. | June 23, 2026 | To approve the Liberty Latin America 2026 Incentive Plan. | Compensation | Board | AGAINST | 2 | |
| Lifco AB | April 24, 2026 | Reelect Ulrika Dellby as Director | Director Elections | Board | AGAINST | 2 | |
| LifeMD, Inc. | June 12, 2026 | To approve LifeMD's Fourth Amended and Restated 2020 Equity and Incentive Plan. | Compensation | Board | AGAINST | 2 | |
| Lingyi iTech (Guangdong) Co. | December 22, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 2 | |
| Lingyi iTech (Guangdong) Co. | December 22, 2025 | Approve Use of Idle Own Funds for Entrusted Financial Management | Extraordinary Transactions | Board | AGAINST | 2 | |
| Lionsgate Studios Corp. | March 17, 2026 | Election of Directors: Harry E. Sloan | Director Elections | Board | WITHHOLD | 2 | |
| Lionsgate Studios Corp. | March 17, 2026 | Election of Directors: Michael T. Fries | Director Elections | Board | WITHHOLD | 2 | |
| Live Oak Bancshares, Inc. | May 19, 2026 | Omnibus Stock Incentive Plan. Proposal to approve the Live Oak Bancshares, Inc. 2026 Omnibus Stock Incentive Plan. | Compensation | Board | AGAINST | 2 | |
| Localiza Rent A Car SA | April 30, 2026 | Amend Long-Term Incentive Plans | Compensation | Board | AGAINST | 2 | |
| Localiza Rent A Car SA | April 30, 2026 | Elect Antonio de Padua Soares Policarpo as Fiscal Council Member and Juliano Lima Pinheiro as Alternate | Compensation | Board | ABSTAIN | 2 | |
| Logista Integral SA | February 4, 2026 | Ratify Appointment of and Elect Kevin Massie as Director | Director Elections | Board | AGAINST | 2 | |
| London Stock Exchange Group plc | April 23, 2026 | Re-elect Cressida Hogg as Director | Director Elections | Board | AGAINST | 2 | |
| London Stock Exchange Group plc | April 23, 2026 | Re-elect Don Robert as Director | Director Elections | Board | AGAINST | 2 | |
| London Stock Exchange Group plc | April 23, 2026 | Re-elect Kathleen DeRose as Director | Director Elections | Board | AGAINST | 2 | |
| London Stock Exchange Group plc | April 23, 2026 | Re-elect Lloyd Pitchford as Director | Director Elections | Board | AGAINST | 2 | |
| London Stock Exchange Group plc | April 23, 2026 | Re-elect Tsega Gebreyes as Director | Director Elections | Board | AGAINST | 2 | |
| London Stock Exchange Group plc | April 23, 2026 | Re-elect Val Rahmani as Director | Director Elections | Board | AGAINST | 2 | |
| London Stock Exchange Group plc | April 23, 2026 | Re-elect William Vereker as Director | Director Elections | Board | AGAINST | 2 | |
| Lonza Group AG | May 8, 2026 | Reelect Jean-Marc Huet as Director and Board Chair | Director Elections | Board | AGAINST | 2 | |
| Lonza Group AG | May 8, 2026 | Reelect Juan Andres as Director | Director Elections | Board | AGAINST | 2 | |
| Lonza Group AG | May 8, 2026 | Reelect Marion Helmes as Director | Director Elections | Board | AGAINST | 2 | |
| Lucky Strike Entertainment Corporation | December 9, 2025 | Election of Directors: Michael J. Angelakis | Director Elections | Board | WITHHOLD | 2 | |
| Luxshare Precision Industry Co. Ltd. | December 22, 2025 | Approve Estimated Amount of External Guarantees | Capital Structure | Board | AGAINST | 2 | |
| LyondellBasell Industries N.V. | May 22, 2026 | Election of Directors: Rita Griffin | Director Elections | Board | AGAINST | 2 | |
| M&G Plc | April 30, 2026 | Re-elect Clare Chapman as Director | Director Elections | Board | AGAINST | 2 | |
| M&G Plc | April 30, 2026 | Re-elect Clare Thompson as Director | Director Elections | Board | AGAINST | 2 | |
| M&G Plc | April 30, 2026 | Re-elect Clive Adamson as Director | Director Elections | Board | AGAINST | 2 | |
| M&G Plc | April 30, 2026 | Re-elect Debasish Sanyal as Director | Director Elections | Board | AGAINST | 2 | |
| M&G Plc | April 30, 2026 | Re-elect Elisabeth Stheeman as Director | Director Elections | Board | AGAINST | 2 | |
| M&G Plc | April 30, 2026 | Re-elect Massimo Tosato as Director | Director Elections | Board | AGAINST | 2 | |
| M&G Plc | April 30, 2026 | Re-elect Paul Evans as Director | Director Elections | Board | AGAINST | 2 | |
| M&G Plc | April 30, 2026 | Re-elect Sir Edward Braham as Director | Director Elections | Board | AGAINST | 2 | |
| M-tron Industries, Inc. | June 16, 2026 | To approve the Second Amended and Restated M-tron Industries, Inc. 2022 Incentive Plan. | Compensation | Board | AGAINST | 2 | |
| MAIRE SpA | April 15, 2026 | Approve Remuneration Policy | Compensation | Board | AGAINST | 2 | |
| MASTECH DIGITAL, INC | May 13, 2026 | A non-binding advisory vote on the compensation of the named executive officers of the Company ("Say on Pay"). | Say-on-Pay | Board | AGAINST | 2 | |
| MBRF Global Foods Co. SA | April 24, 2026 | Amend Stock Option Plan | Compensation | Board | AGAINST | 2 | |
| MBRF Global Foods Co. SA | April 24, 2026 | Elect Fiscal Council Members | Compensation | Board | ABSTAIN | 2 | |
| MERUS N.V. | December 9, 2025 | Non-binding advisory proposal to approve certain compensation arrangements | Say-on-Pay | Board | AGAINST | 2 | |
| MGP Ingredients, Inc. | May 13, 2026 | Election of Directors: Todd B. Siwak | Director Elections | Board | AGAINST | 2 | |
| MINISO Group Holding Limited | June 18, 2026 | Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights | Capital Structure | Board | AGAINST | 2 | |
| MINISO Group Holding Limited | June 18, 2026 | Authorize Reissuance of Repurchased Shares | Capital Structure | Board | AGAINST | 2 | |
| MISTRAS Group, Inc. | May 19, 2026 | To approve the amendment to the MISTRAS Group, Inc., 2016 Long-Term Incentive Plan to increase the number of shares authorized for issuance. | Compensation | Board | AGAINST | 2 | |
| MMG Limited | May 28, 2026 | Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights | Capital Structure | Board | AGAINST | 2 | |
| MMG Limited | May 28, 2026 | Authorize Reissuance of Repurchased Shares | Capital Structure | Board | AGAINST | 2 | |
| MMG Limited | May 28, 2026 | Elect Cao Liang as Director | Director Elections | Board | AGAINST | 2 | |
| MMG Limited | May 28, 2026 | Elect Leung Cheuk Yan as Director | Director Elections | Board | AGAINST | 2 | |
| MMG Limited | May 28, 2026 | Elect Yue Wenjun as Director | Director Elections | Board | AGAINST | 2 |
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Built November 8, 2026 from SEC Form N-PX filings.