Home › Asset managers › Vanguard › 2024-2025 › Against the board
At least 6,065 proposals in the 2024-2025 proxy season: Vanguard voted against, or withheld its votes from, at least 6,000 proposals put forward by company boards, and voted for 65 shareholder proposals, by its own Form N-PX filings.
Two kinds of vote are listed: a board-sponsored proposal Vanguard 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
6,065 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 | Vanguard voted | Funds |
|---|---|---|---|---|---|---|---|
| WONIK IPS CO. LTD. | March 26, 2025 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 6 | |
| WORKMAN CO. LTD. | June 26, 2025 | Elect Director Kohama, Hideyuki | Director Elections | Board | AGAINST | 6 | |
| WORLD HOLDINGS CO. LTD. | March 28, 2025 | Approve Stock Option Plan | Compensation | Board | AGAINST | 6 | |
| WUESTENROT & WUERTTEMBERGISCHE AG | May 22, 2025 | Approve Remuneration Policy | Compensation | Board | AGAINST | 6 | |
| WUESTENROT & WUERTTEMBERGISCHE AG | May 22, 2025 | Approve Remuneration Report | Compensation | Board | AGAINST | 6 | |
| XIAMEN CD INC. | December 27, 2024 | Approve Financial Assistance | Capital Structure | Board | AGAINST | 6 | |
| XIAMEN CD INC. | December 27, 2024 | Approve Provision of Guarantee to Shangzhou Aviation Logistics Co., Ltd. | Capital Structure | Board | AGAINST | 6 | |
| XIAMEN CD INC. | December 27, 2024 | Approve Provision of Guarantee to Subsidiaries and Associate Companies | Capital Structure | Board | AGAINST | 6 | |
| XIAMEN CD INC. | May 6, 2025 | Approve Issuance of DFI Debt Financing Instrument | Capital Structure | Board | AGAINST | 6 | |
| XIAMEN INTERNATIONAL TRADE GROUP CORP. LTD. | November 15, 2024 | Approve Application for Unified Registration of Multi-variety of Debt Financing Instruments (DFI) Qualifications | Capital Structure | Board | AGAINST | 6 | |
| XIAMEN INTERNATIONAL TRADE GROUP CORP. LTD. | January 20, 2025 | Approve Application for Comprehensive Credit Lines | Capital Structure | Board | AGAINST | 6 | |
| XIAMEN TUNGSTEN CO. LTD. | May 28, 2025 | Approve Remuneration of Directors | Compensation | Board | AGAINST | 6 | |
| XIAMEN TUNGSTEN CO. LTD. | May 28, 2025 | Approve Remuneration of Supervisors | Compensation | Board | AGAINST | 6 | |
| XTB SA | May 14, 2025 | Approve Remuneration Report | Compensation | Board | AGAINST | 6 | |
| XVIVO PERFUSION AB | April 25, 2025 | Approve Remuneration Report | Compensation | Board | AGAINST | 6 | |
| YAHAGI CONSTRUCTION CO. LTD. | June 27, 2025 | Appoint Statutory Auditor Kani, Tatsuya | Compensation | Board | AGAINST | 6 | |
| YAMABIKO CORP. | March 27, 2025 | Appoint Statutory Auditor Sato, Kenichi | Compensation | Board | AGAINST | 6 | |
| YAMAGATA BANK LTD. | June 25, 2025 | Elect Director Sato, Eiji | Director Elections | Board | AGAINST | 6 | |
| YAMAGATA BANK LTD. | June 25, 2025 | Elect Director and Audit Committee Member Hirota, Naoto | Director Elections | Board | AGAINST | 6 | |
| YAMASHIN-FILTER CORP. | June 25, 2025 | Approve Restricted Stock Plan | Compensation | Board | AGAINST | 6 | |
| YAMAZAKI BAKING CO. LTD. | March 28, 2025 | Approve Director Retirement Bonus | Compensation | Board | AGAINST | 6 | |
| YAMAZAKI BAKING CO. LTD. | March 28, 2025 | Elect Director Iijima, Nobuhiro | Director Elections | Board | AGAINST | 6 | |
| YANCOAL AUSTRALIA LTD. | May 28, 2025 | Approve General Mandate to Issue Shares | Capital Structure | Board | AGAINST | 6 | |
| YANCOAL AUSTRALIA LTD. | May 28, 2025 | Elect Ang Li as Director | Director Elections | Board | AGAINST | 6 | |
| YANCOAL AUSTRALIA LTD. | May 28, 2025 | Elect Zhiguo Zhao as Director | Director Elections | Board | AGAINST | 6 | |
| YAPI VE KREDI BANKASI AS | March 26, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 6 | |
| YAPI VE KREDI BANKASI AS | March 26, 2025 | Elect Directors | Director Elections | Board | AGAINST | 6 | |
| YG ENTERTAINMENT INC. | March 28, 2025 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 6 | |
| YOKOHAMA RUBBER CO. LTD. | March 28, 2025 | Elect Alternate Director and Audit Committee Member Furukawa, Junichi | Director Elections | Board | AGAINST | 6 | |
| YOKOHAMA RUBBER CO. LTD. | March 28, 2025 | Elect Director Seimiya, Shinji | Director Elections | Board | AGAINST | 6 | |
| YOKOHAMA RUBBER CO. LTD. | March 28, 2025 | Elect Director and Audit Committee Member Kimura, Hiroki | Director Elections | Board | AGAINST | 6 | |
| YOKOHAMA RUBBER CO. LTD. | March 28, 2025 | Elect Director and Audit Committee Member Matsuo, Gota | Director Elections | Board | AGAINST | 6 | |
| YOKOWO CO. LTD. | June 26, 2025 | Elect Director Yoneda, Emi | Director Elections | Board | AGAINST | 6 | |
| YOULCHON CHEMICAL CO. LTD. | March 25, 2025 | Appoint Lee Yong-gap as Internal Auditor | Compensation | Board | AGAINST | 6 | |
| YOULCHON CHEMICAL CO. LTD. | March 25, 2025 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 6 | |
| YOULCHON CHEMICAL CO. LTD. | March 25, 2025 | Authorize Board to Fix Remuneration of Internal Auditor(s) | Compensation | Board | AGAINST | 6 | |
| YOULCHON CHEMICAL CO. LTD. | March 25, 2025 | Elect Arimitsu Yoshio as a Member of Audit Committee | Director Elections | Board | AGAINST | 6 | |
| YOUNGONE HOLDINGS CO. LTD. | March 31, 2025 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 6 | |
| YUASA TRADING CO. LTD. | June 25, 2025 | Appoint Statutory Auditor Otani, Hiromitsu | Compensation | Board | AGAINST | 6 | |
| YUEXIU REAL ESTATE INVESTMENT TRUST | May 28, 2025 | Elect Cheung Yuk Tong as Director, Chairman of Remuneration and Nomination Committee and Member of the Audit Committee and Related Transactions | Director Elections | Board | AGAINST | 6 | |
| YULON MOTOR CO. LTD. | May 27, 2025 | Elect LIANG ZHANG, a Representative of CHINA MOTOR CO., LTD, with Shareholder No. 14181, as Non-Independent Director | Director Elections | Board | AGAINST | 6 | |
| YUNGJIN PHARM. CO. LTD. | March 28, 2025 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 6 | |
| YUNNAN COPPER CO. LTD. | April 15, 2025 | Approve Credit and Financing Plan | Capital Structure | Board | AGAINST | 6 | |
| YUNSUNG F & C CO. LTD. | March 28, 2025 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 6 | |
| YUTONG BUS CO. LTD. | April 25, 2025 | Approve External Guarantees | Capital Structure | Board | AGAINST | 6 | |
| ZANGGE MINING CO. LTD. | April 18, 2025 | Approve 2024 Performance Appraisal Confirmation and 2025 Remuneration Payment Plan of Supervisors | Compensation | Board | AGAINST | 6 | |
| ZEALAND PHARMA A/S | March 27, 2025 | Approve Remuneration Report (Advisory Vote) | Compensation | Board | AGAINST | 6 | |
| ZEHNDER GROUP AG | April 3, 2025 | Reappoint Milva Inderbitzin-Zehnder as Member of the Nomination and Compensation Committee | Director Elections | Board | AGAINST | 6 | |
| ZEHNDER GROUP AG | April 3, 2025 | Reelect Milva Inderbitzin-Zehnder as Director | Director Elections | Board | AGAINST | 6 | |
| ZENRIN CO. LTD. | June 20, 2025 | Elect Director Takegawa, Michio | Director Elections | Board | AGAINST | 6 | |
| ZHEJIANG DINGLI MACHINERY CO. LTD. | May 20, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 6 | |
| ZHEJIANG NHU CO. LTD. | May 8, 2025 | Approve Bill Pool Business | Capital Structure | Board | AGAINST | 6 | |
| ZHONGSHAN BROAD-OCEAN MOTOR CO. LTD. | September 13, 2024 | Approve Draft and Summary of Employee Share Purchase Plan | Compensation | Board | AGAINST | 6 | |
| ZHONGSHAN BROAD-OCEAN MOTOR CO. LTD. | September 13, 2024 | Approve Management Method of Employee Share Purchase Plan | Compensation | Board | AGAINST | 6 | |
| ZIRAAT GAYRIMENKUL YATIRIM ORTAKLIGI AS | May 7, 2025 | Elect Directors and Approve Their Remuneration | Director Elections | Board | AGAINST | 6 | |
| ZOOMLION HEAVY INDUSTRY SCIENCE AND TECHNOLOGY CO. LTD. | June 26, 2025 | Approve Application to Relevant Financial Institutions for General Credit Facilities and Financing and Authorize Chairman of the Board to Execute Facility Contracts and Other Relevant Finance Documents and Allocate the Credit Limit Available | Capital Structure | Board | AGAINST | 6 | |
| ZOOMLION HEAVY INDUSTRY SCIENCE AND TECHNOLOGY CO. LTD. | June 26, 2025 | Approve Provision of Guarantees in Favour of 46 Subsidiaries and Authorize Board to Adjust the Available Guarantee Amount Between the Guaranteed Parties | Capital Structure | Board | AGAINST | 6 | |
| ZOOMLION HEAVY INDUSTRY SCIENCE AND TECHNOLOGY CO. LTD. | June 26, 2025 | Authorize Board to Deal with All Matters in Connection with the Registration of Debt Financing Instrument, Issuance of Debt Securities and Related Transactions | Capital Structure | Board | AGAINST | 6 | |
| ZORLU ENERJI ELEKTRIK URETIM AS | May 26, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 6 | |
| ZTE CORP. | March 28, 2025 | Approve Application for Consolidated Registration for Issuance of Multiple Types of Debt Financing Instruments | Capital Structure | Board | AGAINST | 6 | |
| ZTE CORP. | March 28, 2025 | Approve Provision of Guarantee Limits for Subsidiaries | Capital Structure | Board | AGAINST | 6 | |
| 360 SECURITY TECHNOLOGY INC. | May 16, 2025 | Approve Provision of Guarantees | Capital Structure | Board | AGAINST | 5 | |
| 3PEAK INC. | May 30, 2025 | Approve Remuneration (Allowance) of Directors | Compensation | Board | AGAINST | 5 | |
| 3PEAK INC. | May 30, 2025 | Approve Remuneration of Supervisors | Compensation | Board | AGAINST | 5 | |
| 5I5J HOLDING GROUP CO. LTD. | May 13, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| ABU DHABI NATIONAL HOTELS | April 9, 2025 | Elect Ahmed Al Dhahiri as Director | Director Elections | Board | ABSTAIN | 5 | |
| ABU DHABI NATIONAL HOTELS | April 9, 2025 | Elect Alaa Ereeqat as Director | Director Elections | Board | ABSTAIN | 5 | |
| ABU DHABI NATIONAL HOTELS | April 9, 2025 | Elect Ameenah Thabit as Director | Director Elections | Board | ABSTAIN | 5 | |
| ABU DHABI NATIONAL HOTELS | April 9, 2025 | Elect Mohammed Al Baloushi as Director | Director Elections | Board | ABSTAIN | 5 | |
| ABU DHABI NATIONAL HOTELS | April 9, 2025 | Elect Shatha Al Oteebi as Director | Director Elections | Board | ABSTAIN | 5 | |
| ABU DHABI NATIONAL OIL CO. FOR DISTRIBUTION PJSC | March 25, 2025 | Approve Remuneration of Directors for FY 2024 | Compensation | Board | AGAINST | 5 | |
| ABU DHABI PORTS CO. PJSC | December 20, 2024 | Ratify the Appointment of Mohammed Al Suweedi as Director | Director Elections | Board | AGAINST | 5 | |
| ABU DHABI PORTS CO. PJSC | April 21, 2025 | Approve Remuneration of Directors for FY 2024 | Compensation | Board | AGAINST | 5 | |
| ABU DHABI PORTS CO. PJSC | April 21, 2025 | Elect 9 Members of Board of Directors for a New Term of Three Years | Director Elections | Board | AGAINST | 5 | |
| ACCTON TECHNOLOGY CORP. | June 12, 2025 | Elect a Representative of Golden Tengis Co., Ltd, with Shareholder No. 192057, as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| ACS, ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA | May 8, 2025 | Approve Remuneration Policy | Compensation | Board | AGAINST | 5 | |
| ACS, ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA | May 8, 2025 | Ratify Appointment of and Elect Isidro Faine Casas as Director | Director Elections | Board | AGAINST | 5 | |
| ACS, ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA | May 8, 2025 | Reelect Carmen Fernandez Rozado as Director | Director Elections | Board | AGAINST | 5 | |
| ACTRON TECHNOLOGY CORP. | May 23, 2025 | Approve Issuance of Marketable Securities via Public Offering or Private Placement | Capital Structure | Board | AGAINST | 5 | |
| ADANI GREEN ENERGY LTD. | June 25, 2025 | Approve Reappointment and Remuneration of Vneet S. Jaain as Managing Director | Compensation | Board | AGAINST | 5 | |
| ADANI WILMAR LTD. | November 29, 2024 | Approve AWL - Employee Stock Option Scheme 2024 | Compensation | Board | AGAINST | 5 | |
| ADANI WILMAR LTD. | November 29, 2024 | Approve Grant of Employee Stock Options to the Eligible Employees of Group Company Including its Subsidiary and Associate Companies of the Company under AWL - Employee Stock Option Scheme 2024 | Compensation | Board | AGAINST | 5 | |
| ADANI WILMAR LTD. | November 29, 2024 | Approve Provision of Money by the Company for Subscription and Purchase of its Own Shares by the Trust under the 'AWL - Employee Stock Option Scheme 2024' | Compensation | Board | AGAINST | 5 | |
| ADANI WILMAR LTD. | November 29, 2024 | Approve Secondary Acquisition of Shares Through Trust Route for the Implementation of AWL - Employee Stock Option Scheme 2024 | Compensation | Board | AGAINST | 5 | |
| ADC THERAPEUTICS SA | June 3, 2025 | Approving an amendment to increase the number of shares authorized under the 2019 Equity Incentive Plan The Board of Directors is proposing that an amendment to increase the number of shares authorized under 2019 Equity Incentive Plan be approved. | Compensation | Board | AGAINST | 5 | |
| ADC THERAPEUTICS SA | June 3, 2025 | Approving, on a binding basis under Swiss law, the compensation of the Board of Directors and the Executive Committee The Board of Directors proposes that the maximum aggregate amount of compensation for the members of the Board of Directors for the period between the Annual Meeting and the 2026 annual general meeting of Shareholders be set at $2,300,000. | Compensation | Board | AGAINST | 5 | |
| ADC THERAPEUTICS SA | June 3, 2025 | Reelecting nominees to the Compensation Committee of the Board of Directors: The Board of Directors proposes that Robert Azelby be reelected as a member of the Compensation Committee for a one-year term, beginning as of the Annual Meeting and ending at the closing of the 2026 annual general meeting of Shareholders. | Director Elections | Board | AGAINST | 5 | |
| ADIMMUNE CORP. | June 26, 2025 | Elect a Representative of Management Committee Member, Yao Hua Glass Co., Ltd, with SHAREHOLDER NO.154 as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| ADITYA BIRLA CAPITAL LTD. | August 16, 2024 | Approve Continuation of Directorship of Romesh Sobti as Director | Director Elections | Board | AGAINST | 5 | |
| ADITYA BIRLA CAPITAL LTD. | August 16, 2024 | Reelect Romesh Sobti as Director | Director Elections | Board | AGAINST | 5 | |
| ADNOC DRILLING CO. PJSC | March 17, 2025 | Discuss and Approve Remuneration of Directors for FY 2024 | Compensation | Board | AGAINST | 5 | |
| ADNOC LOGISTICS & SERVICES PLC | March 24, 2025 | Approve Remuneration of Directors for FY 2024 | Compensation | Board | AGAINST | 5 | |
| ADVANCED CERAMIC X CORP. | June 11, 2025 | Elect a Representative of HSIN CHANG CONSTRUCTION CORP., with Shareholder No. 00000013, as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| ADVANCED CERAMIC X CORP. | June 11, 2025 | Elect a Representative of JOHANSON TECHNOLOGY INC., with Shareholder No. 00000885, as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| ADVANCED CERAMIC X CORP. | June 11, 2025 | Elect a Representative of KUO CHIA FU INVESTMENT CORP., with Shareholder No. 00000012, as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| ADVANCED CERAMIC X CORP. | June 11, 2025 | Elect a Representative of LIN LI CONSTRUCTION CORP., with Shareholder No. 00000015, as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| ADVANCED CERAMIC X CORP. | June 11, 2025 | Elect a Representative of SCIENTIFIC COMPONENTS CORP., with Shareholder No. 00001319, as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| ADVANCED CERAMIC X CORP. | June 11, 2025 | Elect a Representative of SHUANG DE INVESTMENT CORP., with Shareholder No. 00011477, as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| AEON THANA SINSAP (THAILAND) PUBLIC CO. LTD. | June 24, 2025 | Elect Amorn Jirachaiprasitti as Director | Director Elections | Board | AGAINST | 5 | |
| AEON THANA SINSAP (THAILAND) PUBLIC CO. LTD. | June 24, 2025 | Elect Katsushi Iwamoto as Director | Director Elections | Board | AGAINST | 5 |
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Built November 7, 2026 from SEC Form N-PX filings.