Home › Asset managers › Principal › 2025-2026 › Against the board
Two kinds of vote are listed: a board-sponsored proposal Principal 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
3,790 proposals.
| Company | Meeting | Proposal | Category | On the ballot from | Board recommended | Principal voted | Funds |
|---|---|---|---|---|---|---|---|
| Lifeway Foods, Inc. | December 29, 2025 | To approve, by non-binding advisory vote, executive compensation. | Say-on-Pay | Board | AGAINST | 1 | |
| Lifezone Metals Limited | May 5, 2026 | Elect Director Keith Liddell | Director Elections | Board | AGAINST | 1 | |
| Limoneira Company | March 25, 2026 | To vote on an advisory resolution to approve the compensation of the Named Executive Officers as disclosed in this proxy statement ("Proposal 2"); | Say-on-Pay | Board | AGAINST | 1 | |
| Lincoln National Corporation | May 28, 2026 | The approval of an advisory resolution on the compensation of our named executive officers. | Say-on-Pay | Board | AGAINST | 1 | |
| Lionsgate Studios Corp. | March 17, 2026 | Election of Directors: Michael T. Fries | Director Elections | Board | WITHHOLD | 1 | |
| Liquidia Corporation | June 16, 2026 | Election of Directors: Katie Rielly-Gauvin | Director Elections | Board | WITHHOLD | 1 | |
| Liquidia Corporation | June 16, 2026 | Election of Directors: Ramandeep Singh | Director Elections | Board | WITHHOLD | 1 | |
| LiveWire Group, Inc. | May 21, 2026 | Election of Directors: Bryan Niketh | Director Elections | Board | WITHHOLD | 1 | |
| LiveWire Group, Inc. | May 21, 2026 | Election of Directors: Glen Koval | Director Elections | Board | WITHHOLD | 1 | |
| LiveWire Group, Inc. | May 21, 2026 | Election of Directors: Jonathan Root | Director Elections | Board | WITHHOLD | 1 | |
| LiveWire Group, Inc. | May 21, 2026 | Election of Directors: Paul Krause | Director Elections | Board | WITHHOLD | 1 | |
| London Stock Exchange Group plc | April 23, 2026 | Elect David Schwimmer | Director Elections | Board | AGAINST | 1 | |
| London Stock Exchange Group plc | April 23, 2026 | Elect Don Robert | Director Elections | Board | AGAINST | 1 | |
| London Stock Exchange Group plc | April 23, 2026 | Elect Michel-Alain Proch | Director Elections | Board | AGAINST | 1 | |
| London Stock Exchange Group plc | April 23, 2026 | Elect Scott Guthrie | Director Elections | Board | AGAINST | 1 | |
| Lotus Bakeries NV | May 12, 2026 | Approve Remuneration Report | Compensation | Board | AGAINST | 1 | |
| Lotus Bakeries NV | May 12, 2026 | Reelect PMF NV, Permanently Represented by Emanuel Boone, as Director | Director Elections | Board | AGAINST | 1 | |
| Lowe's Companies, Inc. | May 29, 2026 | Shareholder Proposal requesting a report describing how the Company could disclose its plastic packaging footprint. | Environment or Climate | Shareholder | Against | FOR | 1 |
| Lowe's Companies, Inc. | May 29, 2026 | Shareholder Proposal requesting a report on risks of sharing customer data with third parties. | Other Social Issues | Shareholder | Against | FOR | 1 |
| Lument Finance Trust, Inc. | June 10, 2026 | Approval, on an advisory basis, of the compensation of our named executive officers, as described in the proxy statement under "Executive Compensation." | Say-on-Pay | Board | AGAINST | 1 | |
| Lument Finance Trust, Inc. | June 10, 2026 | Election of Directors: Neil A. Cummins | Director Elections | Board | WITHHOLD | 1 | |
| Lument Finance Trust, Inc. | June 10, 2026 | Election of Directors: Walter C. Keenan | Director Elections | Board | WITHHOLD | 1 | |
| Lument Finance Trust, Inc. | June 10, 2026 | Election of Directors: William A. Houlihan | Director Elections | Board | WITHHOLD | 1 | |
| Lumine Group Inc. | May 15, 2026 | Elect Director Brian Beattie | Director Elections | Board | WITHHOLD | 1 | |
| Lundin Gold Inc. | May 8, 2026 | Elect Ian W. Gibbs | Director Elections | Board | AGAINST | 1 | |
| M&T Bank Corporation | April 21, 2026 | Election of Directors: Melinda R. Rich | Director Elections | Board | AGAINST | 1 | |
| M-tron Industries, Inc. | June 16, 2026 | To approve the Second Amended and Restated M-tron Industries, Inc. 2022 Incentive Plan. | Compensation | Board | AGAINST | 1 | |
| M3, Inc. | June 26, 2026 | Elect Director Tanimura, Itaru | Director Elections | Board | AGAINST | 1 | |
| MBIA Inc. | May 5, 2026 | To approve, on an advisory basis, executive compensation. | Say-on-Pay | Board | AGAINST | 1 | |
| MBX Biosciences, Inc. | June 4, 2026 | Election of two Class II Directors, each to serve until the Company's 2029 Annual Meeting of Stockholders or until such person's successor is duly elected and qualified, or until their earlier death, resignation or removal: Patrick J. Heron | Director Elections | Board | WITHHOLD | 1 | |
| MGM China Holdings Limited | May 14, 2026 | Approve Deloitte Touche Tohmatsu as Auditor and Authorize Board to Fix Their Remuneration | Audit-related | Board | AGAINST | 1 | |
| MGM China Holdings Limited | May 14, 2026 | Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights | Capital Structure | Board | AGAINST | 1 | |
| MGM China Holdings Limited | May 14, 2026 | Authorize Reissuance of Repurchased Shares | Capital Structure | Board | AGAINST | 1 | |
| MGP Ingredients, Inc. | May 13, 2026 | Approve the MGP Ingredients, Inc. Amended and Restated 2024 Equity Incentive Plan. | Compensation | Board | AGAINST | 1 | |
| MGP Ingredients, Inc. | May 13, 2026 | Election of Directors: Thomas A. Gerke | Director Elections | Board | AGAINST | 1 | |
| MGP Ingredients, Inc. | May 13, 2026 | Election of Directors: Todd B. Siwak | Director Elections | Board | AGAINST | 1 | |
| MINEBEA MITSUMI Inc. | June 26, 2026 | Elect Katsuhiko Yoshida | Director Elections | Board | AGAINST | 1 | |
| MINEBEA MITSUMI Inc. | June 26, 2026 | Elect Katsutoshi Suzuki | Director Elections | Board | AGAINST | 1 | |
| MINEBEA MITSUMI Inc. | June 26, 2026 | Elect Ryozo Iwaya | Director Elections | Board | AGAINST | 1 | |
| MINEBEA MITSUMI Inc. | June 26, 2026 | Elect Satoshi Mizuma | Director Elections | Board | AGAINST | 1 | |
| MINEBEA MITSUMI Inc. | June 26, 2026 | Elect Shigeru Moribe | Director Elections | Board | AGAINST | 1 | |
| MINEBEA MITSUMI Inc. | June 26, 2026 | Elect Shinji Shirakata | Director Elections | Board | AGAINST | 1 | |
| MINEBEA MITSUMI Inc. | June 26, 2026 | Elect Takashi Matsuoka | Director Elections | Board | AGAINST | 1 | |
| MINEBEA MITSUMI Inc. | June 26, 2026 | Elect Yoshihisa Kainuma | Director Elections | Board | AGAINST | 1 | |
| MISUMI Group Inc. | June 18, 2026 | Elect Arata Shimizu | Director Elections | Board | AGAINST | 1 | |
| MISUMI Group Inc. | June 18, 2026 | Elect Ryusei Ono | Director Elections | Board | AGAINST | 1 | |
| MISUMI Group Inc. | June 18, 2026 | Elect Shigetaka Shimizu | Director Elections | Board | AGAINST | 1 | |
| MISUMI Group Inc. | June 18, 2026 | Elect Tomoki Kanatani | Director Elections | Board | AGAINST | 1 | |
| MISUMI Group Inc. | June 18, 2026 | Elect XU Shaochun | Director Elections | Board | AGAINST | 1 | |
| MVB Financial Corp. | May 19, 2026 | To amend the MVB Financial Corp. 2022 Stock Incentive Plan to increase the number of shares authorized for issuance under the Plan. | Compensation | Board | AGAINST | 1 | |
| Madison Square Garden Entertainment Corp. | December 10, 2025 | Election of the following nominees as directors: Donna M. Coleman | Director Elections | Board | WITHHOLD | 1 | |
| Madison Square Garden Entertainment Corp. | December 10, 2025 | Election of the following nominees as directors: Frederic V. Salerno | Director Elections | Board | WITHHOLD | 1 | |
| Madison Square Garden Entertainment Corp. | December 10, 2025 | Election of the following nominees as directors: Martin Bandier | Director Elections | Board | WITHHOLD | 1 | |
| Makita Corporation | June 24, 2026 | Elect Munetoshi Goto | Director Elections | Board | AGAINST | 1 | |
| Makita Corporation | June 24, 2026 | Elect Takashi Ando | Director Elections | Board | AGAINST | 1 | |
| Marathon Petroleum Corporation | April 29, 2026 | Election of Class III Directors: John P. Surma | Director Elections | Board | AGAINST | 1 | |
| Maravai Lifesciences Holdings, Inc. | May 26, 2026 | To elect three nominees to the Board of Directors (3-year term expiring in 2029): Bernd Brust | Director Elections | Board | WITHHOLD | 1 | |
| Maravai Lifesciences Holdings, Inc. | May 26, 2026 | To elect three nominees to the Board of Directors (3-year term expiring in 2029): Gregory T. Lucier | Director Elections | Board | WITHHOLD | 1 | |
| Maravai Lifesciences Holdings, Inc. | May 26, 2026 | To elect three nominees to the Board of Directors (3-year term expiring in 2029): Luke Marker | Director Elections | Board | WITHHOLD | 1 | |
| Marex Group Plc | May 21, 2026 | Approve Scheme of Arrangement | Extraordinary Transactions | Board | AGAINST | 1 | |
| Marex Group plc | May 21, 2026 | Approve Capital Reduction by Cancellation and Extinguishment of the Deferred Shares | Capital Structure | Board | AGAINST | 1 | |
| Marex Group plc | May 21, 2026 | Approve Capital Reduction by Cancellation and Extinguishment of the Scheme Shares | Capital Structure | Board | AGAINST | 1 | |
| Marex Group plc | May 21, 2026 | Approve Scheme of Arrangement | Extraordinary Transactions | Board | AGAINST | 1 | |
| MarketWise, Inc. | June 4, 2026 | Election of Directors: Matthew Turner | Director Elections | Board | WITHHOLD | 1 | |
| MarketWise, Inc. | June 4, 2026 | To approve, on an advisory (non-binding) basis, the compensation of our named executive officers. | Say-on-Pay | Board | AGAINST | 1 | |
| Marvell Technology, Inc. | June 25, 2026 | Election of Directors. Daniel Durn | Director Elections | Board | ABSTAIN | 1 | |
| Matador Resources Company | June 11, 2026 | Election of Director Nominees: Reynald A. Baribault | Director Elections | Board | AGAINST | 1 | |
| Matador Resources Company | June 11, 2026 | Election of Director Nominees: Timothy E. Parker | Director Elections | Board | AGAINST | 1 | |
| MatsukiyoCocokara & Co. | June 19, 2026 | Elect Director Matsumoto, Kiyo | Director Elections | Board | AGAINST | 1 | |
| MatsukiyoCocokara & Co. | June 19, 2026 | Elect Director Matsumoto, Namio | Director Elections | Board | AGAINST | 1 | |
| Max Financial Services Limited | December 21, 2025 | Elect Pradeep Pant as Director | Director Elections | Board | AGAINST | 1 | |
| Mebuki Financial Group, Inc. | June 24, 2026 | Elect Director Akino, Tetsuya | Director Elections | Board | AGAINST | 1 | |
| Menicon Co., Ltd. | June 26, 2026 | Elect Director Kawaura, Koji | Director Elections | Board | AGAINST | 1 | |
| MercadoLibre, Inc. | June 9, 2026 | Election of Directors: Stelleo Passos Tolda | Director Elections | Board | WITHHOLD | 1 | |
| Mercury Systems, Inc. | October 22, 2025 | To elect one Class II director nominated by the Board of Directors, to serve for a one-year term, and until her successor has been duly elected and qualified: Jean Bua | Director Elections | Board | WITHHOLD | 1 | |
| Mercury Systems, Inc. | October 22, 2025 | To elect three Class I directors nominated by the Board of Directors, each to serve for a three-year term, and in each case until their successors have been duly elected and qualified: William L. Ballhaus | Director Elections | Board | WITHHOLD | 1 | |
| Merus N.V | December 9, 2025 | Non-binding advisory proposal to approve certain compensation arrangements | Say-on-Pay | Board | AGAINST | 1 | |
| Metallus Inc. | April 30, 2026 | Election of three Directors for a three-year term expiring at the 2029 annual meeting: Nicholas J. Chirekos | Director Elections | Board | WITHHOLD | 1 | |
| Methanex Corporation | April 30, 2026 | Approve KPMG LLP Auditors and Authorize Board to Fix Their Remuneration | Audit-related | Board | WITHHOLD | 1 | |
| Microchip Technology Incorporated | August 19, 2025 | Election of Directors: Steve Sanghi | Director Elections | Board | AGAINST | 1 | |
| Microsoft Corporation | December 5, 2025 | Election of Directors: Hugh F. Johnston | Director Elections | Board | AGAINST | 1 | |
| Microsoft Corporation | December 5, 2025 | Report on Al Data Usage Oversight | Other Social Issues | Shareholder | Against | FOR | 1 |
| MidWestOne Financial Group, Inc. | January 26, 2026 | To approve, on a non-binding, advisory basis, the compensation that may be paid or become payable to the named executive officers of MidWestOne that is based on or otherwise relates to the merger. | Say-on-Pay | Board | AGAINST | 1 | |
| Millicom International Cellular S.A. | May 20, 2026 | To re-elect Maria Teresa Arnal as a Director for a term ending at the 2027 AGM. | Director Elections | Board | AGAINST | 1 | |
| Millicom International Cellular S.A. | May 20, 2026 | To re-elect Pierre Alain Allemand as a Director for a term ending at the annual general meeting to be held in 2027 (the "2027 AGM"). | Director Elections | Board | AGAINST | 1 | |
| Millrose Properties, Inc. | May 18, 2026 | Election of Directors: Kathleen B. Lynch | Director Elections | Board | AGAINST | 1 | |
| Millrose Properties, Inc. | May 18, 2026 | Election of Directors: M. Allison Mincey | Director Elections | Board | AGAINST | 1 | |
| Millrose Properties, Inc. | May 18, 2026 | Election of Directors: Patrick J. Bartels | Director Elections | Board | AGAINST | 1 | |
| Minebea Mitsumi, Inc. | June 26, 2026 | Elect Director Kainuma, Yoshihisa | Director Elections | Board | AGAINST | 1 | |
| Minebea Mitsumi, Inc. | June 26, 2026 | Elect Director Yoshida, Katsuhiko | Director Elections | Board | AGAINST | 1 | |
| Mirum Pharmaceuticals, Inc. | June 15, 2026 | To elect the Board's three Class I nominees for director to hold office until the Company's 2029 annual meeting of stockholders and their successors are duly elected and qualified, or until their earlier death, resignation or removal: Lon Cardon, Ph.D., FMedSci | Director Elections | Board | WITHHOLD | 1 | |
| Mirum Pharmaceuticals, Inc. | June 15, 2026 | To elect the Board's three Class III nominees for director to hold office until the Company's 2029 annual meeting of stockholders and their successors are duly elected and qualified, or until their earlier death, resignation or removal: Timothy Walbert | Director Elections | Board | WITHHOLD | 1 | |
| Mitsubishi Heavy Industries, Ltd. | June 26, 2026 | Elect Director Ito, Eisaku | Director Elections | Board | AGAINST | 1 | |
| Mitsubishi Heavy Industries, Ltd. | June 26, 2026 | Elect Director Izumisawa, Seiji | Director Elections | Board | AGAINST | 1 | |
| Mitsubishi Heavy Industries, Ltd. | June 26, 2026 | Elect Seiji Izumisawa | Director Elections | Board | AGAINST | 1 | |
| Mobile Infrastructure Corporation | June 18, 2026 | Approval of Amended and Restated Mobile Infrastructure Corporation and Mobile Infra Operating Company, LLC 2023 Incentive Award Plan. | Compensation | Board | AGAINST | 1 | |
| Mobile Infrastructure Corporation | June 18, 2026 | Election of Directors: Damon Jones | Director Elections | Board | WITHHOLD | 1 | |
| Mobile Infrastructure Corporation | June 18, 2026 | Election of Directors: Danica Holley | Director Elections | Board | WITHHOLD | 1 | |
| Mobile Infrastructure Corporation | June 18, 2026 | Election of Directors: David Garfinkle | Director Elections | Board | WITHHOLD | 1 | |
| Mobile Infrastructure Corporation | June 18, 2026 | Election of Directors: Jeffrey B. Osher | Director Elections | Board | WITHHOLD | 1 |
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Built October 25, 2026 from SEC Form N-PX filings.