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 |
|---|---|---|---|---|---|---|---|
| S FOODS INC. | May 23, 2025 | Appoint Statutory Auditor Yasuoka, Nobuyuki | Compensation | Board | AGAINST | 5 | |
| S.F. HOLDING CO. LTD. | June 13, 2025 | Approve Estimated Cap for Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| SAFE BULKERS INC. | September 12, 2024 | Elect Director Ioannis Foteinos | Director Elections | Board | WITHHOLD | 5 | |
| SAFE BULKERS INC. | September 12, 2024 | Elect Director Ole Wikborg | Director Elections | Board | WITHHOLD | 5 | |
| SAFE BULKERS INC. | September 12, 2024 | Elect Director Polys V. Hajioannou | Director Elections | Board | WITHHOLD | 5 | |
| SAIBU GAS HOLDINGS CO. LTD. | June 25, 2025 | Elect Director Michinaga, Yukinori | Director Elections | Board | AGAINST | 5 | |
| SAIBU GAS HOLDINGS CO. LTD. | June 25, 2025 | Elect Director and Audit Committee Member Ariyoshi, Masahide | Director Elections | Board | AGAINST | 5 | |
| SAIBU GAS HOLDINGS CO. LTD. | June 25, 2025 | Elect Director and Audit Committee Member Numano, Yoshinari | Director Elections | Board | AGAINST | 5 | |
| SAILUN GROUP CO. LTD. | March 18, 2025 | Approve Capital Injection in East China (Dongying) Intelligent Connected Vehicle Test Field Co., Ltd. and Related Party Transaction | Extraordinary Transactions | Board | AGAINST | 5 | |
| SALHIA REAL ESTATE CO. | April 17, 2025 | Elect Khalid Al Nafeesi as a Non-Executive Director | Director Elections | Board | ABSTAIN | 5 | |
| SALHIA REAL ESTATE CO. | April 17, 2025 | Elect Nasir Boursli as an Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| SALHIA REAL ESTATE CO. | April 17, 2025 | Elect Omar Al Huseenan as an Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| SALHIA REAL ESTATE CO. | April 17, 2025 | Elect Saoud Al Zabin as a Non-Executive Director | Director Elections | Board | ABSTAIN | 5 | |
| SAMVARDHANA MOTHERSON INTERNATIONAL LTD. | August 29, 2024 | Approve Loans, Guarantees, Securities and/or Investments in Other Body Corporate | Capital Structure | Board | AGAINST | 5 | |
| SAN-AI OBBLI CO. LTD. | June 26, 2025 | Elect Director Hayata, Hiroshi | Director Elections | Board | AGAINST | 5 | |
| SANGSANGIN CO. LTD. | March 26, 2025 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 5 | |
| SANSHIN ELECTRONICS CO. LTD. | June 20, 2025 | Elect Director Suzuki, Toshiro | Director Elections | Board | AGAINST | 5 | |
| SANTOS BRASIL PARTICIPACOES SA | April 29, 2025 | Elect Apsis Consultoria e Avaliacoes Ltda. as Independent Firm to Prepare the Appraisal Report on the Company's Shares for the Purpose of a Public Tender Offer | Extraordinary Transactions | Board | ABSTAIN | 5 | |
| SANTOS BRASIL PARTICIPACOES SA | April 29, 2025 | Elect PwC Strategy& do Brasil Consultoria Empresarial Ltda. as Independent Firm to Prepare the Appraisal Report on the Company's Shares for the Purpose of a Public Tender Offer | Extraordinary Transactions | Board | ABSTAIN | 5 | |
| SANWEI HOLDING GROUP CO. LTD. | May 22, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| SANY HEAVY INDUSTRY CO. LTD. | January 21, 2025 | Approve Provision of Financial Aid | Capital Structure | Board | AGAINST | 5 | |
| SANY HEAVY INDUSTRY CO. LTD. | January 21, 2025 | Approve Provision of Guarantee to Subsidiary | Capital Structure | Board | AGAINST | 5 | |
| SANYO ELECTRIC RAILWAY CO. LTD. | June 18, 2025 | Elect Director Uekado, Kazuhiro | Director Elections | Board | AGAINST | 5 | |
| SANYO ELECTRIC RAILWAY CO. LTD. | June 18, 2025 | Elect Director and Audit Committee Member Kagawa, Jiro | Director Elections | Board | AGAINST | 5 | |
| SANYO ELECTRIC RAILWAY CO. LTD. | June 18, 2025 | Elect Director and Audit Committee Member Kanatani, Akihiko | Director Elections | Board | AGAINST | 5 | |
| SANYO ELECTRIC RAILWAY CO. LTD. | June 18, 2025 | Elect Director and Audit Committee Member Takada, Atsushi | Director Elections | Board | AGAINST | 5 | |
| SAO MARTINHO SA | July 26, 2024 | Elect Directors | Director Elections | Board | AGAINST | 5 | |
| SAO MARTINHO SA | July 26, 2024 | Elect Fiscal Council Members | Compensation | Board | ABSTAIN | 5 | |
| SAO MARTINHO SA | July 26, 2024 | In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below? | Director Elections | Board | ABSTAIN | 5 | |
| SAO MARTINHO SA | July 26, 2024 | Percentage of Votes to Be Assigned - Elect Guilherme Fontes Ribeiro as Board Chairman | Director Elections | Board | ABSTAIN | 5 | |
| SAO MARTINHO SA | July 26, 2024 | Percentage of Votes to Be Assigned - Elect Joao Carlos Costa Brega as Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| SAO MARTINHO SA | July 26, 2024 | Percentage of Votes to Be Assigned - Elect Marcelo Campos Ometto as Board Vice-Chairman | Director Elections | Board | ABSTAIN | 5 | |
| SAO MARTINHO SA | July 26, 2024 | Percentage of Votes to Be Assigned - Elect Mauricio Krug Ometto as Director | Director Elections | Board | ABSTAIN | 5 | |
| SAO MARTINHO SA | July 26, 2024 | Percentage of Votes to Be Assigned - Elect Murilo Cesar Lemos dos Santos Passos as Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| SAO MARTINHO SA | July 26, 2024 | Percentage of Votes to Be Assigned - Elect Nelson Marques Ferreira Ometto as Director | Director Elections | Board | ABSTAIN | 5 | |
| SAO MARTINHO SA | July 26, 2024 | Percentage of Votes to Be Assigned - Elect Olga Stankevicius Colpo as Director | Director Elections | Board | ABSTAIN | 5 | |
| SAREGAMA INDIA LTD. | August 27, 2024 | Approve Reappointment and Remuneration of Vikram Mehra as Managing Director | Compensation | Board | AGAINST | 5 | |
| SARKUYSAN ELEKTROLITIK BAKIR SANAYI VE TICARET AS | April 18, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| SARKUYSAN ELEKTROLITIK BAKIR SANAYI VE TICARET AS | April 18, 2025 | Elect Directors | Director Elections | Board | AGAINST | 5 | |
| SASA POLYESTER SANAYI AS | April 24, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| SBI ARUHI CORP. | June 24, 2025 | Elect Director Ikuma, Tsutomu | Director Elections | Board | AGAINST | 5 | |
| SBI LIFE INSURANCE COMPANY LTD. | August 26, 2024 | Approve Continuation of Dinesh Kumar Khara as Chairman, Nominee Director | Director Elections | Board | AGAINST | 5 | |
| SBM OFFSHORE NV | April 9, 2025 | Reelect I. Arntsen to Supervisory Board | Director Elections | Board | AGAINST | 5 | |
| SCHAEFFLER INDIA LTD. | January 25, 2025 | Reelect Amit Kalyani as Director | Director Elections | Board | AGAINST | 5 | |
| SCHAEFFLER INDIA LTD. | April 30, 2025 | Reelect Andreas Schick as Director | Director Elections | Board | AGAINST | 5 | |
| SCHNEIDER ELECTRIC INFRASTRUCTURE LTD. | March 30, 2025 | Approve Loan/Financing Assistance to Company's Employees under Schneider Electric SE's Worldwide Employee Share Ownership Plan 2025 | Compensation | Board | AGAINST | 5 | |
| SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG | April 24, 2025 | Approve Remuneration Report | Compensation | Board | AGAINST | 5 | |
| SCIENTEX BERHAD | December 18, 2024 | Approve Deloitte PLT as Auditors and Authorize Board to Fix Their Remuneration | Audit-related | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Amount and Use of Proceeds | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Authorization of Board to Handle All Related Matters | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Company's Eligibility for Issuance of Shares to Specific Targets | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Conditional Share Subscription Agreement | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Demonstration Analysis Report in Connection to Issuance of Shares to Specific Targets | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Distribution Arrangement of Cumulative Earnings | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Feasibility Analysis Report on the Use of Proceeds | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Impact of Dilution of Current Returns on Major Financial Indicators, the Relevant Measures to be Taken and Commitment from Relevant Parties | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Issue Manner and Issue Time | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Issue Size | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Listing Exchange | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Lock-up Period | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Plan for Issuance of Shares to Specific Targets | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Pricing Reference Date, Issue Price and Pricing Basis | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Resolution Validity Period | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Share Type and Par Value | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Signing of Conditional Strategic Cooperation Agreement | Capital Structure | Board | AGAINST | 5 | |
| SDIC POWER HOLDINGS CO. LTD. | October 9, 2024 | Approve Target Subscribers and Subscription Method | Capital Structure | Board | AGAINST | 5 | |
| SEAH BESTEEL HOLDINGS CORP. | March 26, 2025 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 5 | |
| SECTRA AB | September 10, 2024 | Approve Remuneration Report | Compensation | Board | AGAINST | 5 | |
| SEKERBANK TAS | May 16, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| SEKERBANK TAS | May 16, 2025 | Approve Share Capital Increase without Preemptive Rights | Capital Structure | Board | AGAINST | 5 | |
| SEKERBANK TAS | May 16, 2025 | Ratify External Auditors | Audit-related | Board | AGAINST | 5 | |
| SEMIRARA MINING AND POWER CORP. | May 5, 2025 | Elect Antonio Jose U. Periquet, Jr. as Director | Director Elections | Board | WITHHOLD | 5 | |
| SEMIRARA MINING AND POWER CORP. | May 5, 2025 | Elect Cesar A. Buenaventura as Director | Director Elections | Board | WITHHOLD | 5 | |
| SEMIRARA MINING AND POWER CORP. | May 5, 2025 | Elect Herbert M. Consunji as Director | Director Elections | Board | WITHHOLD | 5 | |
| SEMIRARA MINING AND POWER CORP. | May 5, 2025 | Elect Jorge A. Consunji as Director | Director Elections | Board | WITHHOLD | 5 | |
| SEMIRARA MINING AND POWER CORP. | May 5, 2025 | Elect Josefa Consuelo C. Reyes as Director | Director Elections | Board | WITHHOLD | 5 | |
| SEMIRARA MINING AND POWER CORP. | May 5, 2025 | Elect Ma. Edwina C. Laperal as Director | Director Elections | Board | WITHHOLD | 5 | |
| SEMIRARA MINING AND POWER CORP. | May 5, 2025 | Elect Maria Cristina C. Gotianun as Director | Director Elections | Board | WITHHOLD | 5 | |
| SENDAS DISTRIBUIDORA SA | April 25, 2025 | Approve Remuneration of Company's Management and Fiscal Council | Compensation | Board | AGAINST | 5 | |
| SENSORTEK TECHNOLOGY CORP. | June 17, 2025 | Elect Chun-Yi Hsu, with ID NO.A121590XXX, as Independent Director | Director Elections | Board | AGAINST | 5 | |
| SERES GROUP CO. LTD. | April 22, 2025 | Approve Guarantee Amount | Capital Structure | Board | AGAINST | 5 | |
| SFA ENGINEERING CORP. | March 31, 2025 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 5 | |
| SGL CARBON SE | May 21, 2025 | Approve Remuneration Report | Compensation | Board | AGAINST | 5 | |
| SHAANXI COAL INDUSTRY CO. LTD. | September 4, 2024 | Elect Su Yuzhu as Director | Director Elections | Board | AGAINST | 5 | |
| SHAANXI COAL INDUSTRY CO. LTD. | September 4, 2024 | Elect Wang Lianhe as Director | Director Elections | Board | AGAINST | 5 | |
| SHAANXI COAL INDUSTRY CO. LTD. | September 4, 2024 | Elect Zhao Wenge as Director | Director Elections | Board | AGAINST | 5 | |
| SHAANXI CONSTRUCTION ENGINEERING GROUP CORP. LTD. | September 19, 2024 | Approve Provision of Guarantee for Subsidiaries | Capital Structure | Board | AGAINST | 5 | |
| SHAANXI CONSTRUCTION ENGINEERING GROUP CORP. LTD. | June 26, 2025 | Approve 2025 Remuneration of Directors | Compensation | Board | AGAINST | 5 | |
| SHAANXI CONSTRUCTION ENGINEERING GROUP CORP. LTD. | June 26, 2025 | Approve 2025 Remuneration of Supervisors | Compensation | Board | AGAINST | 5 | |
| SHAANXI CONSTRUCTION ENGINEERING GROUP CORP. LTD. | June 26, 2025 | Approve Authorization of Additional Financing Guarantee Amount | Capital Structure | Board | AGAINST | 5 | |
| SHAANXI ENERGY INVESTMENT CO. LTD. | May 9, 2025 | Approve Application of Bank Credit Lines | Capital Structure | Board | AGAINST | 5 | |
| SHAANXI ENERGY INVESTMENT CO. LTD. | May 9, 2025 | Approve Financial Assistance Provision | Capital Structure | Board | AGAINST | 5 | |
| SHAANXI ENERGY INVESTMENT CO. LTD. | May 9, 2025 | Approve Financing and Internal Credit Granting Plan | Capital Structure | Board | AGAINST | 5 | |
| SHANDONG DAWN POLYMER CO. LTD. | February 7, 2025 | Approve Downward Adjustment on Conversion Price of Convertible Bonds | Capital Structure | Board | AGAINST | 5 | |
| SHANDONG DAWN POLYMER CO. LTD. | April 8, 2025 | Approve External Guarantee | Capital Structure | Board | AGAINST | 5 | |
| SHANDONG GOLD MINING CO. LTD. | July 29, 2024 | Approve Registration of Multiple Types of Debt Financing Instruments | Capital Structure | Board | AGAINST | 5 | |
| SHANDONG HEAD GROUP CO. LTD. | May 20, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| SHANDONG LONGDA MEISHI CO. LTD. | May 19, 2025 | Approve External Guarantees | Capital Structure | Board | AGAINST | 5 | |
| SHANDONG LONGDA MEISHI CO. LTD. | May 19, 2025 | Elect Luo Yunyan as Director | Director Elections | Board | AGAINST | 5 | |
| SHANDONG WEIFANG RAINBOW CHEMICAL CO. LTD. | January 15, 2025 | Approve Guarantee Amount | Capital Structure | Board | AGAINST | 5 |
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Built November 8, 2026 from SEC Form N-PX filings.