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 |
|---|---|---|---|---|---|---|---|
| KAYNES TECHNOLOGY INDIA LTD. | September 9, 2024 | Approve and Adopt Employee Stock Option Scheme called "Kaynes ESOP Scheme 2023" | Compensation | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Amount and Usage of Raised Funds | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Authorization of Board to Handle All Related Matters | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Company's Eligibility for Private Placement of Shares | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Conditional Shares Subscription Agreement in Connection to the Private Placement | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Demonstration Analysis Report in Connection to Issuance of Shares to Specific Targets | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Distribution Arrangement of Undistributed Earnings | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Feasibility Analysis Report on the Use of Proceeds | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Impact of Dilution of Current Returns on Major Financial Indicators and the Relevant Measures to be Taken | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Investment of Raised Funds in the Field of Technological Innovation | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Issue Manner and Period | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Issue Scale | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Issue Type and Par Value | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Listing Location | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Lock-up Period | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Plan on Private Placement of Shares | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Pricing Reference Date, Issue Price and Pricing Principles | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Report on the Usage of Previously Raised Funds | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Resolution Validity Period | Capital Structure | Board | AGAINST | 5 | |
| KBC CORP. LTD. | March 14, 2025 | Approve Target Parties and Subscription Manner | Capital Structure | Board | AGAINST | 5 | |
| KEC INTERNATIONAL LTD. | August 22, 2024 | Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights | Capital Structure | Board | AGAINST | 5 | |
| KEDA INDUSTRIAL GROUP CO. LTD. | August 1, 2024 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| KEPCO ENGINEERING & CONSTRUCTION CO. INC. | March 31, 2025 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 5 | |
| KEPCO ENGINEERING & CONSTRUCTION CO. INC. | March 31, 2025 | Authorize Board to Fix Remuneration of Internal Auditor(s) | Compensation | Board | AGAINST | 5 | |
| KEPPEL INFRASTRUCTURE TRUST | April 15, 2025 | Approve Issuance of Units to Keppel Infrastructure Holdings Pte. Ltd. under the Proposed KIHPL Placement Mandate | Capital Structure | Board | AGAINST | 5 | |
| KEREVITAS GIDA SANAYI VE TICARET AS | May 8, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| KERVAN GIDA SANAYI VE TICARET AS | December 25, 2024 | Authorize Share Capital Increase without Preemptive Rights | Capital Structure | Board | AGAINST | 5 | |
| KERVAN GIDA SANAYI VE TICARET AS | May 27, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| KESHUN WATERPROOF TECHNOLOGIES CO. LTD. | September 12, 2024 | Approve Terms for Downward Adjustment of Conversion Price | Capital Structure | Board | AGAINST | 5 | |
| KGHM POLSKA MIEDZ SA | June 18, 2025 | Amend Remuneration Policy | Compensation | Board | AGAINST | 5 | |
| KGHM POLSKA MIEDZ SA | June 18, 2025 | Approve Remuneration Report | Compensation | Board | AGAINST | 5 | |
| KIDSWANT CHILDREN PRODUCTS CO. LTD. | June 23, 2025 | Approve Equity Acquisition | Extraordinary Transactions | Board | AGAINST | 5 | |
| KIDSWANT CHILDREN PRODUCTS CO. LTD. | June 23, 2025 | Approve Joint Investment with Related Parties | Extraordinary Transactions | Board | AGAINST | 5 | |
| KIDSWANT CHILDREN PRODUCTS CO. LTD. | June 23, 2025 | Approve to Change the Usage of Raised Funds | Capital Structure | Board | AGAINST | 5 | |
| KIDSWANT CHILDREN PRODUCTS CO. LTD. | June 23, 2025 | Approve to Increase the Guarantee Amount | Capital Structure | Board | AGAINST | 5 | |
| KINGNET NETWORK CO. LTD. | June 30, 2025 | Amend Working System for Independent Directors | Capital Structure | Board | AGAINST | 5 | |
| KLABIN SA | April 24, 2025 | Elect Directors (Slate 1 Proposed by Company's Management) | Director Elections | Board | AGAINST | 5 | |
| KLABIN SA | April 24, 2025 | Elect Fiscal Council Members | Compensation | Board | ABSTAIN | 5 | |
| KLABIN SA | April 24, 2025 | Percentage of Votes to Be Assigned - Elect Alberto Klabin as Director and Maria Silvia Bastos Marques as Alternate | Director Elections | Board | ABSTAIN | 5 | |
| KLABIN SA | April 24, 2025 | Percentage of Votes to Be Assigned - Elect Amanda Klabin Tkacz as Director and Daniel Miguel Klabin as Alternate | Director Elections | Board | ABSTAIN | 5 | |
| KLABIN SA | April 24, 2025 | Percentage of Votes to Be Assigned - Elect Amaury Guilherme Bier as Independent Director and Victor Borges Leal Saragiotto as Alternate | Director Elections | Board | ABSTAIN | 5 | |
| KLABIN SA | April 24, 2025 | Percentage of Votes to Be Assigned - Elect Celso Lafer as Independent Director and Paulo Roberto Petterle as Alternate | Director Elections | Board | ABSTAIN | 5 | |
| KLABIN SA | April 24, 2025 | Percentage of Votes to Be Assigned - Elect Francisco Lafer Pati as Director and Luis Eduardo Pereira de Carvalho as Alternate | Director Elections | Board | ABSTAIN | 5 | |
| KLABIN SA | April 24, 2025 | Percentage of Votes to Be Assigned - Elect Horacio Lafer Piva as Director and Eduardo Lafer Piva as Alternate | Director Elections | Board | ABSTAIN | 5 | |
| KLABIN SA | April 24, 2025 | Percentage of Votes to Be Assigned - Elect Lilia Klabin Levine as Director and Joao Adamo Junior as Alternate | Director Elections | Board | ABSTAIN | 5 | |
| KLABIN SA | April 24, 2025 | Percentage of Votes to Be Assigned - Elect Marcelo Mesquita de Siqueira Filho as Independent Director and Marcelo de Aguiar Oliveira as Alternate | Director Elections | Board | ABSTAIN | 5 | |
| KLABIN SA | April 24, 2025 | Percentage of Votes to Be Assigned - Elect Paulo Sergio Coutinho Galvao Filho as Director and Maria Eugenia Lafer Galvao as Alternate | Director Elections | Board | ABSTAIN | 5 | |
| KLABIN SA | April 24, 2025 | Percentage of Votes to Be Assigned - Elect Roberto Luiz Leme Klabin as Independent Director and Marcelo Bertini de Rezende Barbosa as Alternate | Director Elections | Board | ABSTAIN | 5 | |
| KLABIN SA | April 24, 2025 | Percentage of Votes to Be Assigned - Elect Vera Lafer as Director and Antonio Sergio Alfano as Alternate | Director Elections | Board | ABSTAIN | 5 | |
| KLABIN SA | April 24, 2025 | Percentage of Votes to Be Assigned - Elect Wolff Klabin as Director and Pedro Silva de Queiroz as Alternate | Director Elections | Board | ABSTAIN | 5 | |
| KOC HOLDING A.S | April 3, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| KOC HOLDING A.S | April 3, 2025 | Approve Share Capital Increase without Preemptive Rights | Capital Structure | Board | AGAINST | 5 | |
| KOCAER CELIK SANAYI VE TICARET AS | April 21, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| KOCAER CELIK SANAYI VE TICARET AS | April 21, 2025 | Elect Directors | Director Elections | Board | AGAINST | 5 | |
| KOCAER CELIK SANAYI VE TICARET AS | April 21, 2025 | Ratify Director Appointments | Director Elections | Board | AGAINST | 5 | |
| KOJIMA CO. LTD. | November 20, 2024 | Elect Alternate Director and Audit Committee Member Yamamiya, Shinichiro | Director Elections | Board | AGAINST | 5 | |
| KOJIMA CO. LTD. | November 20, 2024 | Elect Director Nakazawa, Yuji | Director Elections | Board | AGAINST | 5 | |
| KONFOONG MATERIALS INTERNATIONAL CO. LTD. | December 30, 2024 | Approve Equity Acquisition Leads to Additional Related-party Guarantee | Capital Structure | Board | AGAINST | 5 | |
| KONTROLMATIK TEKNOLOJI ENERJI VE MUHENDISLIK AS | April 21, 2025 | Elect Directors | Director Elections | Board | AGAINST | 5 | |
| KOREA GAS CORP. | March 31, 2025 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 5 | |
| KOREAN AIR LINES CO. LTD. | March 26, 2025 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 5 | |
| KPC PHARMACEUTICALS INC. | June 20, 2025 | Approve Remuneration of Company Related Personnel | Compensation | Board | AGAINST | 5 | |
| KPIT TECHNOLOGIES LTD. | June 13, 2025 | Approve to Make Investments, Give Loans, Guarantees and Security Over and Above Limits Prescribed under Section 186 of the Companies Act, 2013 | Capital Structure | Board | AGAINST | 5 | |
| KPJ HEALTHCARE BERHAD | June 26, 2025 | Approve Ernst & Young PLT as Auditors and Authorize Board to Fix Their Remuneration | Audit-related | Board | AGAINST | 5 | |
| KPJ HEALTHCARE BERHAD | June 26, 2025 | Elect Khairuddin bin Jaflus as Director | Director Elections | Board | AGAINST | 5 | |
| KPJ HEALTHCARE BERHAD | June 26, 2025 | Elect Mohd Redza Shah bin Abdul Wahid as Director | Director Elections | Board | AGAINST | 5 | |
| KPP GROUP HOLDINGS CO. LTD. | June 27, 2025 | Elect Director Tanabe, Madoka | Director Elections | Board | AGAINST | 5 | |
| KPP GROUP HOLDINGS CO. LTD. | June 27, 2025 | Elect Director and Audit Committee Member Kudo, Yoko | Director Elections | Board | AGAINST | 5 | |
| KPP GROUP HOLDINGS CO. LTD. | June 27, 2025 | Elect Director and Audit Committee Member Nakagawa, Naoki | Director Elections | Board | AGAINST | 5 | |
| KRBL LTD. | September 13, 2024 | Approve Reappointment and Remuneration of Anoop Kumar Gupta as Whole Time Executive Director (Joint Managing Director) | Compensation | Board | AGAINST | 5 | |
| KRBL LTD. | September 13, 2024 | Approve Revision in Remuneration of Akshay Gupta, Holding Office or Place of Profit in the Company | Compensation | Board | AGAINST | 5 | |
| KRBL LTD. | September 13, 2024 | Approve Revision in Remuneration of Ashish Mittal, Holding Office or Place of Profit in the Company | Compensation | Board | AGAINST | 5 | |
| KRBL LTD. | September 13, 2024 | Approve Revision in Remuneration of Ayush Gupta, Holding Office or Place of Profit in the Company | Compensation | Board | AGAINST | 5 | |
| KRBL LTD. | September 13, 2024 | Approve Revision in Remuneration of Kunal Gupta, Holding Office or Place of Profit in the Company | Compensation | Board | AGAINST | 5 | |
| KURA SUSHI INC. | January 29, 2025 | Elect Director Tanaka, Kunihiko | Director Elections | Board | AGAINST | 5 | |
| KURA SUSHI INC. | January 29, 2025 | Elect Director and Audit Committee Member Otaguchi, Hiroshi | Director Elections | Board | AGAINST | 5 | |
| KURA SUSHI INC. | January 29, 2025 | Elect Director and Audit Committee Member Yamamoto, Tamotsu | Director Elections | Board | AGAINST | 5 | |
| KYOKUTO SECURITIES CO. LTD. | June 24, 2025 | Elect Director Kikuchi, Kazuhiro | Director Elections | Board | AGAINST | 5 | |
| LA COMER SAB DE CV | April 9, 2025 | Approve Allocation of Income and Maximum Amount for Repurchase of Shares | Capital Structure | Board | AGAINST | 5 | |
| LAGARDERE SA | April 29, 2025 | Approve Compensation of Arnaud Lagardere, Chairman and CEO | Compensation | Board | AGAINST | 5 | |
| LAGARDERE SA | April 29, 2025 | Reelect Arnaud de Puyfontaine as Director | Director Elections | Board | AGAINST | 5 | |
| LAGARDERE SA | April 29, 2025 | Reelect Nicolas Sarkozy as Director | Director Elections | Board | AGAINST | 5 | |
| LAGARDERE SA | April 29, 2025 | Reelect Veronique Morali as Director | Director Elections | Board | AGAINST | 5 | |
| LAKSHMI MACHINE WORKS LTD. | September 12, 2024 | Approve Appointment and Remuneration of Jaidev Jayavarthanavelu as Executive Director | Compensation | Board | AGAINST | 5 | |
| LANCY CO. LTD. | April 25, 2025 | Approve External Guarantees | Capital Structure | Board | AGAINST | 5 | |
| LAO FENG XIANG CO. LTD. | June 26, 2025 | Approve Provision of Guarantees | Capital Structure | Board | AGAINST | 5 | |
| LDR TURIZM AS | October 24, 2024 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| LDR TURIZM AS | October 24, 2024 | Elect Directors | Director Elections | Board | AGAINST | 5 | |
| LEADER HARMONIOUS DRIVE SYSTEMS CO. LTD. | May 20, 2025 | Approve Application of Bank Credit Lines and Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| LENS TECHNOLOGY CO. LTD. | January 20, 2025 | Elect Chen Xiaoqun as Supervisor | Compensation | Board | AGAINST | 5 | |
| LENS TECHNOLOGY CO. LTD. | April 18, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| LEVIMA ADVANCED MATERIALS CORP. | April 18, 2025 | Approve Perpetual Debt Investment | Capital Structure | Board | AGAINST | 5 | |
| LEVIMA ADVANCED MATERIALS CORP. | April 18, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| LEYARD OPTOELECTRONIC CO. LTD. | July 29, 2024 | Approve Downward Adjustment on Conversion Price of Convertible Bonds | Capital Structure | Board | AGAINST | 5 | |
| LIANHE CHEMICAL TECHNOLOGY CO. LTD. | June 9, 2025 | Approve Bill Pool Business | Capital Structure | Board | AGAINST | 5 | |
| LINAMAR CORP. | May 15, 2025 | Elect Director Dennis Grimm | Director Elections | Board | WITHHOLD | 5 | |
| LINAMAR CORP. | May 15, 2025 | Elect Director Jim Jarrell | Director Elections | Board | WITHHOLD | 5 | |
| LINAMAR CORP. | May 15, 2025 | Elect Director Linda Hasenfratz | Director Elections | Board | WITHHOLD | 5 | |
| LINAMAR CORP. | May 15, 2025 | Elect Director Lisa Forwell | Director Elections | Board | WITHHOLD | 5 | |
| LINAMAR CORP. | May 15, 2025 | Elect Director Mark Stoddart | Director Elections | Board | WITHHOLD | 5 |
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Built November 7, 2026 from SEC Form N-PX filings.