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 |
|---|---|---|---|---|---|---|---|
| TONGHUA DONGBAO PHARMACEUTICAL CO. LTD. | June 9, 2025 | Approve Transfer of Equity by Agreement | Extraordinary Transactions | Board | AGAINST | 5 | |
| TONGLING JINGDA SPECIAL MAGNET WIRE CO. LTD. | January 13, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| TONGWEI CO. LTD. | April 15, 2025 | Approve Issuance of Debt Financing Instruments | Capital Structure | Board | AGAINST | 5 | |
| TONGWEI CO. LTD. | May 20, 2025 | Approve Bill Pool Business | Capital Structure | Board | AGAINST | 5 | |
| TONGWEI CO. LTD. | May 20, 2025 | Approve Provision of Guarantee Among the Company and Subsidiary | Capital Structure | Board | AGAINST | 5 | |
| TONGWEI CO. LTD. | May 20, 2025 | Elect Chen Lei as Director | Director Elections | Board | AGAINST | 5 | |
| TONGWEI CO. LTD. | May 20, 2025 | Elect Ding Yi as Director | Director Elections | Board | AGAINST | 5 | |
| TONGWEI CO. LTD. | May 20, 2025 | Elect Liu Hanyuan as Director | Director Elections | Board | AGAINST | 5 | |
| TONGWEI CO. LTD. | May 20, 2025 | Elect Wang Jin as Director | Director Elections | Board | AGAINST | 5 | |
| TONGWEI CO. LTD. | May 20, 2025 | Elect Yan Hu as Director | Director Elections | Board | AGAINST | 5 | |
| TORM PLC | April 16, 2025 | Approve Release of Claims in Connection with the Purchase of the Treasury Shares | Capital Structure | Board | ABSTAIN | 5 | |
| TORM PLC | April 16, 2025 | Approve Remuneration Report | Compensation | Board | AGAINST | 5 | |
| TORM PLC | April 16, 2025 | Re-elect Christopher Boehringer as Director | Director Elections | Board | AGAINST | 5 | |
| TORRENT PHARMACEUTICALS LTD. | July 23, 2024 | Approve Enhancement of Limit for Loan, Guarantee and Investment by the Company Under Section 186 of the Companies Act, 2013 | Capital Structure | Board | AGAINST | 5 | |
| TQM ALPHA PUBLIC COMPANY LTD. | January 6, 2025 | Approve Connected Transactions on Financial Assistance Through Guarantee for Credit Facilities from Commercial Banks for Easy Lending Co., Ltd. ("EL") and CashNow Plus Co., Ltd. ("C+") - Approval of Additional Credit Guarantee Facility for EL and C+ | Capital Structure | Board | AGAINST | 5 | |
| TQM ALPHA PUBLIC COMPANY LTD. | January 6, 2025 | Approve Connected Transactions on Provision of Financial Assistance Through Guarantee for Credit Facilities from Commercial Banks for Easy Lending Co., Ltd. ("EL") and CashNow Plus Co., Ltd. ("C+") - Ratification of Guarantee Transaction for EL and C+ | Capital Structure | Board | AGAINST | 5 | |
| TQM ALPHA PUBLIC COMPANY LTD. | April 25, 2025 | Elect Ratana Punnipa as Director | Director Elections | Board | AGAINST | 5 | |
| TRANSCONTINENTAL REALTY INVESTORS INC. | December 11, 2024 | Election of Directors: Robert A. Jakuszewski | Director Elections | Board | WITHHOLD | 5 | |
| TRANSFAR ZHILIAN CO. LTD. | May 20, 2025 | Approve Asset Pool Business | Capital Structure | Board | AGAINST | 5 | |
| TRANSFAR ZHILIAN CO. LTD. | May 20, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| TRANSFORMERS & RECTIFIERS (INDIA) LTD. | May 13, 2025 | Approve Advancement of Any Loan/Give Guarantee/Provide Security under Section 185 of the Companies Act, 2013 | Capital Structure | Board | AGAINST | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Elect Alejandro Velasquez Uribe as Director (Appointed by ISA) | Director Elections | Board | AGAINST | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Elect Cesar Augusto Ramirez Roja as Director (Appointed by ISA) | Director Elections | Board | AGAINST | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Elect Felipe Jose Fonseca Attie as Fiscal Council Member and Mirian Paula Ferreira Rodrigues as Alternate (Appointed by CEMIG) | Compensation | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Elect Francisco Martins Codorniz Filho as Director (Appointed by ISA) | Director Elections | Board | AGAINST | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Elect Frederico Papatella Padovani as Fiscal Council Member and Luiz Felipe da Silva Veloso as Alternate (Appointed by CEMIG) | Compensation | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Elect Jaime Enrique Falquez Ortiga as Director (Appointed by ISA) | Director Elections | Board | AGAINST | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Elect Jose Reinaldo Magalhaes as Director (Appointed by CEMIG) | Director Elections | Board | AGAINST | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Elect Manuel Domingues de Jesus e Pinho as Fiscal Council Member and Luciana dos Santos Uchoa as Alternate (Appointed by ISA) | Compensation | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Elect Mauricio Dall'Agnese as Director (Appointed by CEMIG) | Director Elections | Board | AGAINST | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Elect Paulo Gustavo Ganime Alves Teixeira as Director (Appointed by CEMIG) | Director Elections | Board | AGAINST | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Elect Reinaldo Le Grazie as Director (Appointed by CEMIG) | Director Elections | Board | AGAINST | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Elect Reynaldo Passanezi Filho as Director (Appointed by CEMIG) | Director Elections | Board | AGAINST | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below? | Director Elections | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Percentage of Votes to Be Assigned - Elect Alejandro Velasquez Uribe as Director (Appointed by ISA) | Director Elections | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Percentage of Votes to Be Assigned - Elect Celso Maia de Barros as Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Percentage of Votes to Be Assigned - Elect Cesar Augusto Ramirez Roja as Director (Appointed by ISA) | Director Elections | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Percentage of Votes to Be Assigned - Elect Denise Lanfredi Tosetti Hills Lopes as Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Percentage of Votes to Be Assigned - Elect Francisco Martins Codorniz Filho as Director (Appointed by ISA) | Director Elections | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Percentage of Votes to Be Assigned - Elect Hermes Jorge Chipp as Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Percentage of Votes to Be Assigned - Elect Jaime Enrique Falquez Ortiga as Director (Appointed by ISA) | Director Elections | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Percentage of Votes to Be Assigned - Elect Jose Reinaldo Magalhaes as Director (Appointed by CEMIG) | Director Elections | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Percentage of Votes to Be Assigned - Elect Mario Engler Pinto Junior as Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Percentage of Votes to Be Assigned - Elect Mauricio Dall'Agnese as Director (Appointed by CEMIG) | Director Elections | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Percentage of Votes to Be Assigned - Elect Paulo Gustavo Ganime Alves Teixeira as Director (Appointed by CEMIG) | Director Elections | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Percentage of Votes to Be Assigned - Elect Reinaldo Le Grazie as Director (Appointed by CEMIG) | Director Elections | Board | ABSTAIN | 5 | |
| TRANSMISSORA ALIANCA DE ENERGIA ELETRICA SA | April 29, 2025 | Percentage of Votes to Be Assigned - Elect Reynaldo Passanezi Filho as Director (Appointed by CEMIG) | Director Elections | Board | ABSTAIN | 5 | |
| TRANSPORT TRADE SERVICES SA | April 30, 2025 | Approve Remuneration Report | Compensation | Board | AGAINST | 5 | |
| TRIDENT LTD. | December 12, 2024 | Approve Loans, Guarantees, Investments, etc under Section 186 of the Companies Act, 2013 | Capital Structure | Board | AGAINST | 5 | |
| TSEC CORP. | May 23, 2025 | Elect a Representative of Wei Jen Investment Co Ltd., with SHAREHOLDER NO.0000000022 as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| TSINGHUA TONGFANG CO. LTD. | May 23, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| TTK PRESTIGE LTD. | August 21, 2024 | Approve Payment of Remuneration to T. T. Venkatesh as General Manager | Compensation | Board | AGAINST | 5 | |
| TTK PRESTIGE LTD. | August 21, 2024 | Approve Remuneration Payable to T. T. Jagannathan as Non-Executive Chairman | Compensation | Board | AGAINST | 5 | |
| TUKAS GIDA SANAYI VE TICARET AS | April 9, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| TULLOW OIL PLC | May 22, 2025 | Approve Remuneration Report | Compensation | Board | AGAINST | 5 | |
| TURK HAVA YOLLARI AO | May 21, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| TURK HAVA YOLLARI AO | May 21, 2025 | Ratify External Auditors | Audit-related | Board | AGAINST | 5 | |
| TURK TELEKOMUNIKASYON AS | April 25, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| TURKIYE HALK BANKASI AS | April 25, 2025 | Approve Discharge of Board and Internal Auditors | Audit-related | Board | AGAINST | 5 | |
| TURKIYE HALK BANKASI AS | April 25, 2025 | Approve Remuneration of Directors and Internal Auditors | Compensation | Board | AGAINST | 5 | |
| TURKIYE HALK BANKASI AS | April 25, 2025 | Approve Share Repurchase Program | Capital Structure | Board | AGAINST | 5 | |
| TURKIYE HALK BANKASI AS | April 25, 2025 | Elect Board of Directors and Internal Auditors | Director Elections | Board | AGAINST | 5 | |
| TURKIYE SINAI KALKINMA BANKASI AS | March 24, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| TURKIYE SINAI KALKINMA BANKASI AS | March 24, 2025 | Ratify Director Appointment | Director Elections | Board | AGAINST | 5 | |
| TURKIYE SISE VE CAM FABRIKALARI AS | March 25, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| TURKIYE SISE VE CAM FABRIKALARI AS | March 25, 2025 | Authorize Share Capital Increase with Preemptive Rights | Capital Structure | Board | AGAINST | 5 | |
| TURKIYE VAKIFLAR BANKASI TAO | April 25, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| TURKIYE VAKIFLAR BANKASI TAO | April 25, 2025 | Elect Directors | Director Elections | Board | AGAINST | 5 | |
| TURKIYE VAKIFLAR BANKASI TAO | April 25, 2025 | Elect Members of Audit Committee | Director Elections | Board | AGAINST | 5 | |
| ULKER BISKUVI SANAYI AS | June 12, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| UMICORE SA | April 24, 2025 | Elect Michael Bredael as Member of the Supervisory Board | Director Elections | Board | AGAINST | 5 | |
| UNILUMIN GROUP CO. LTD. | May 12, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| UNIVERSAL ENTERTAINMENT CORP. | September 19, 2024 | Remove Director Fujimoto, Jun | Director Elections | Board | ABSTAIN | 5 | |
| UNO MINDA LTD. | May 9, 2025 | Approve Grant of Stock Options to the Employees of Group Company(ies) Subsidiary Company(ies) or Associate(s) and Joint Ventures(s) of the company Under Uno Minda Employee Stock Option Scheme 2025 or Employee Stock Option Scheme 2025 UNO MINDA ESOS-2025 | Compensation | Board | AGAINST | 5 | |
| UNO MINDA LTD. | May 9, 2025 | Approve Uno Minda Employee Stock Option Scheme 2025 or Employee Stock Option Scheme 2025 UNO MINDA ESOS-2025 | Compensation | Board | AGAINST | 5 | |
| USHA MARTIN LTD. | October 5, 2024 | Approve Extension of the Usha Martin Limited Employee Stock Option Plan - 2024 to the Employees of the Group Company of the Company, Including Holding Company (if any, in future), Subsidiary Companies or Associate Companies of the Company | Compensation | Board | AGAINST | 5 | |
| USHA MARTIN LTD. | October 5, 2024 | Approve Provision of Money by the Company for Purchase of its Own Shares by the Trust for the Benefit of Eligible Employees Under Usha Martin Limited Employee Stock Option Plan - 2024 | Compensation | Board | AGAINST | 5 | |
| USHA MARTIN LTD. | October 5, 2024 | Approve Secondary Acquisition of Equity Shares of the Company by an Employee Welfare Trust for the Purpose of Implementation of Usha Martin Limited Employee Stock Option Plan - 2024 | Compensation | Board | AGAINST | 5 | |
| USHA MARTIN LTD. | October 5, 2024 | Approve Usha Martin Limited Employee Stock Option Plan - 2024 | Compensation | Board | AGAINST | 5 | |
| USINAS SIDERURGICAS DE MINAS GERAIS SA-USIMINAS | April 25, 2025 | Elect Fiscal Council Members | Compensation | Board | ABSTAIN | 5 | |
| V.I.P. INDUSTRIES LTD. | August 6, 2024 | Approve Waiver for Recovery of Excess Managerial Remuneration to Anindya Dutta as Managing Director | Compensation | Board | AGAINST | 5 | |
| V.I.P. INDUSTRIES LTD. | August 6, 2024 | Approve Waiver for Recovery of Excess Managerial Remuneration to Neetu Kashiramka as Managing Director | Compensation | Board | AGAINST | 5 | |
| V.I.P. INDUSTRIES LTD. | August 6, 2024 | Reelect Radhika Piramal as Director | Director Elections | Board | AGAINST | 5 | |
| VAKKO TEKSTIL VE HAZIR GIYIM SANAYI ISLETMELERI AS | April 10, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| VAKRANGEE LTD. | January 15, 2025 | Approve Issuance of Convertible Warrants Into Equity Shares on Preferential Basis | Capital Structure | Board | AGAINST | 5 | |
| VALLOUREC SA | May 22, 2025 | Approve Compensation of Philippe Guillemot, Chairman and CEO | Compensation | Board | AGAINST | 5 | |
| VAMOS LOCACAO DE CAMINHOES, MAQUINAS E EQUIPAMENTOS SA | April 28, 2025 | Elect Directors | Director Elections | Board | AGAINST | 5 | |
| VAMOS LOCACAO DE CAMINHOES, MAQUINAS E EQUIPAMENTOS SA | April 28, 2025 | In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below? | Director Elections | Board | ABSTAIN | 5 | |
| VAMOS LOCACAO DE CAMINHOES, MAQUINAS E EQUIPAMENTOS SA | April 28, 2025 | Percentage of Votes to Be Assigned - Elect Antonio da Silva Barreto Junior as Director | Director Elections | Board | ABSTAIN | 5 | |
| VAMOS LOCACAO DE CAMINHOES, MAQUINAS E EQUIPAMENTOS SA | April 28, 2025 | Percentage of Votes to Be Assigned - Elect Denys Marc Ferrez as Director | Director Elections | Board | ABSTAIN | 5 | |
| VAMOS LOCACAO DE CAMINHOES, MAQUINAS E EQUIPAMENTOS SA | April 28, 2025 | Percentage of Votes to Be Assigned - Elect Fernando Antonio Simoes as Director | Director Elections | Board | ABSTAIN | 5 | |
| VAMOS LOCACAO DE CAMINHOES, MAQUINAS E EQUIPAMENTOS SA | April 28, 2025 | Percentage of Votes to Be Assigned - Elect Maria Fernanda dos Santos Teixeira as Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| VAMOS LOCACAO DE CAMINHOES, MAQUINAS E EQUIPAMENTOS SA | April 28, 2025 | Percentage of Votes to Be Assigned - Elect Renato Horta Franklin as Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| VARDHMAN TEXTILES LTD. | September 19, 2024 | Reelect Sachit Jain as Director | Director Elections | Board | AGAINST | 5 | |
| VEDANT FASHIONS LTD. | March 9, 2025 | Approve Increase in the Limits to Provide Loans, Give Guarantees, Provide Securities and Make Investments covered under Section 186 of the Companies Act, 2013 | Capital Structure | Board | AGAINST | 5 | |
| VESTEL ELEKTRONIK SANAYI VE TICARET AS | May 22, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| VINATI ORGANICS LTD. | February 25, 2025 | Approve Revision in Remuneration of Vinati Saraf Mutreja Managing Director and CEO | Compensation | Board | AGAINST | 5 | |
| VISIONOX TECHNOLOGY INC. | April 10, 2025 | Approve Provision of Guarantees | Capital Structure | Board | AGAINST | 5 | |
| WALSIN TECHNOLOGY CORP. | June 17, 2025 | Elect CHIAO YU-HENG, with Shareholder No. 263, as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| WAVE LIFE SCIENCES LTD. | August 6, 2024 | The election of the nominees for director: Christian Henry | Director Elections | Board | AGAINST | 5 |
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Built November 8, 2026 from SEC Form N-PX filings.