Home › Asset managers › Vanguard › 2025-2026 › Against the board
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
6,029 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 |
|---|---|---|---|---|---|---|---|
| Lovisa Holdings Limited | November 21, 2025 | Approve Grant of Performance Rights to John Cheston | Compensation | Board | AGAINST | 6 | |
| Lovisa Holdings Limited | November 21, 2025 | Approve Remuneration Report | Compensation | Board | AGAINST | 6 | |
| Lovisa Holdings Limited | November 21, 2025 | Elect Bruce Carter as Director | Director Elections | Board | AGAINST | 6 | |
| Luk Fook Holdings (International) Limited | August 21, 2025 | Elect Wong Ho Lung, Danny as Director | Director Elections | Board | AGAINST | 6 | |
| Luxshare Precision Industry Co. Ltd. | December 22, 2025 | Approve Estimated Amount of External Guarantees | Capital Structure | Board | AGAINST | 6 | |
| Luzerner Kantonalbank AG | April 13, 2026 | Approve Variable Remuneration of Executive Committee in the Amount of CHF 1.7 Million | Compensation | Board | AGAINST | 6 | |
| Lydia Holding AS | May 4, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 6 | |
| M. Dias Branco SA Industria e Comercio de Alimentos | April 1, 2026 | Elect Directors | Director Elections | Board | AGAINST | 6 | |
| M. Dias Branco SA Industria e Comercio de Alimentos | April 1, 2026 | In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below? | Director Elections | Board | ABSTAIN | 6 | |
| M. Dias Branco SA Industria e Comercio de Alimentos | April 1, 2026 | Percentage of Votes to Be Assigned - Elect Francisco Claudio Saraiva Leao Dias Branco as Director and Francisco Ivens de Sa Dias Branco Junior as Alternate | Director Elections | Board | ABSTAIN | 6 | |
| M. Dias Branco SA Industria e Comercio de Alimentos | April 1, 2026 | Percentage of Votes to Be Assigned - Elect Guilherme Affonso Ferreira as Independent Director and Fabio Cefaly de Campos Machado as Alternate | Director Elections | Board | ABSTAIN | 6 | |
| M. Dias Branco SA Industria e Comercio de Alimentos | April 1, 2026 | Percentage of Votes to Be Assigned - Elect Luiza Andrea Farias Nogueira as Director and Gustavo Lopes Theodozio as Alternate | Director Elections | Board | ABSTAIN | 6 | |
| M. Dias Branco SA Industria e Comercio de Alimentos | April 1, 2026 | Percentage of Votes to Be Assigned - Elect Maria Consuelo Saraiva Leao Dias Branco as Director and Maria Regina Saraiva Leao Dias Branco as Alternate | Director Elections | Board | ABSTAIN | 6 | |
| M. Dias Branco SA Industria e Comercio de Alimentos | April 1, 2026 | Percentage of Votes to Be Assigned - Elect Maria das Gracas Saraiva Leao Dias Branco as Director and Francisco Marcos Saraiva Leao Dias Branco as Alternate | Director Elections | Board | ABSTAIN | 6 | |
| M. Dias Branco SA Industria e Comercio de Alimentos | April 1, 2026 | Percentage of Votes to Be Assigned - Elect Pedro Pullen Parente as Independent Director and Daniel Mota Gutierrez as Alternate | Director Elections | Board | ABSTAIN | 6 | |
| M. Dias Branco SA Industria e Comercio de Alimentos | April 1, 2026 | Percentage of Votes to Be Assigned - Elect Ricardo Luiz de Souza Ramos as Independent Director and Luciane Nunes de Carvalho Sallas as Alternate | Director Elections | Board | ABSTAIN | 6 | |
| M. Dias Branco SA Industria e Comercio de Alimentos | April 1, 2026 | Percentage of Votes to Be Assigned - Elect Romulo Ruberti Calmon Dantas as Director and Sidney Leite dos Santos as Alternate | Director Elections | Board | ABSTAIN | 6 | |
| MAAS Group Holdings Limited | October 22, 2025 | Elect Stephen Bizzell as Director | Director Elections | Board | AGAINST | 6 | |
| MARRIOTT VACATIONS WORLDWIDE CORPORATION | May 15, 2026 | Advisory vote to approve named executive officer compensation. | Compensation | Board | AGAINST | 6 | |
| MATADOR RESOURCES COMPANY | June 11, 2026 | Advisory vote to approve the compensation of the Company's named executive officers | Compensation | Board | AGAINST | 6 | |
| MATCH GROUP, INC. | June 16, 2026 | Election of Director: Ann L. McDaniel | Director Elections | Board | AGAINST | 6 | |
| MATCH GROUP, INC. | June 16, 2026 | Election of Director: Thomas J. McInerney | Director Elections | Board | AGAINST | 6 | |
| MBK Public Company Limited | April 29, 2026 | Elect Suvait Theeravachirakul as Director | Director Elections | Board | AGAINST | 6 | |
| MERCADOLIBRE, INC. | June 9, 2026 | Election of Directors Stelleo Passos Tolda | Director Elections | Board | WITHHOLD | 6 | |
| METAWATER Co., Ltd. | June 23, 2026 | Appoint Alternate Statutory Auditor Yoshiba, Yukiomi | Compensation | Board | AGAINST | 6 | |
| MFE-MEDIAFOREUROPE NV | June 24, 2026 | Approve Remuneration Report | Compensation | Board | AGAINST | 6 | |
| MIRAIT One Corp. | June 24, 2026 | Elect Director Sugahara, Hidemune | Director Elections | Board | AGAINST | 6 | |
| MIRAIT One Corp. | June 24, 2026 | Elect Director and Audit Committee Member Mizuma, Katsuyuki | Director Elections | Board | AGAINST | 6 | |
| MIRAIT One Corp. | June 24, 2026 | Elect Director and Audit Committee Member Seo, Shinji | Director Elections | Board | AGAINST | 6 | |
| MODERNA, INC. | May 6, 2026 | To approve, on a non-binding, advisory basis, the compensation of our named executive officers. | Compensation | Board | AGAINST | 6 | |
| MPC Container Ships ASA | May 7, 2026 | Approve Remuneration Statement | Compensation | Board | AGAINST | 6 | |
| MTI Ltd. | December 20, 2025 | Elect Director Maeta, Toshihiro | Director Elections | Board | AGAINST | 6 | |
| MURPHY USA INC. | May 7, 2026 | Approval of Executive Compensation on an Advisory, Non-Binding Basis. | Compensation | Board | AGAINST | 6 | |
| Mabanee Co. SAK | June 21, 2026 | Elect Abdulazeez Al Haqqan as Director | Director Elections | Board | ABSTAIN | 6 | |
| Mabanee Co. SAK | June 21, 2026 | Elect Abdulazeez Al Shalfan as Director | Director Elections | Board | ABSTAIN | 6 | |
| Mabanee Co. SAK | June 21, 2026 | Elect Eid Al Shihri as Director | Director Elections | Board | ABSTAIN | 6 | |
| Mabanee Co. SAK | June 21, 2026 | Elect Fawaz Al Salih as Director | Director Elections | Board | ABSTAIN | 6 | |
| Mabanee Co. SAK | June 21, 2026 | Elect Khaleefah Al Ajeel as Director | Director Elections | Board | ABSTAIN | 6 | |
| Mabanee Co. SAK | June 21, 2026 | Elect Mohammed Al Khuneeni as Director | Director Elections | Board | ABSTAIN | 6 | |
| Mabanee Co. SAK | June 21, 2026 | Elect Mohammed Al Sabaa as Director | Director Elections | Board | ABSTAIN | 6 | |
| Mabanee Co. SAK | June 21, 2026 | Elect Mohammed Al Zuheer as Director | Director Elections | Board | ABSTAIN | 6 | |
| Mabanee Co. SAK | June 21, 2026 | Elect Muath Al Zamil as Director | Director Elections | Board | ABSTAIN | 6 | |
| Mabanee Co. SAK | June 21, 2026 | Elect Mubarak Al Tuweerish as Director | Director Elections | Board | ABSTAIN | 6 | |
| Mabanee Co. SAK | June 21, 2026 | Elect Muna Khadhr as Director | Director Elections | Board | ABSTAIN | 6 | |
| Mabanee Co. SAK | June 21, 2026 | Elect Nasir Boursli as Director | Director Elections | Board | ABSTAIN | 6 | |
| Macquarie Technology Group Ltd. | November 21, 2025 | Approve Grant of Performance Rights to Aidan Tudehope under the FY26 Macquarie Technology Group Long Term Incentive Plan | Compensation | Board | AGAINST | 6 | |
| Macquarie Technology Group Ltd. | November 21, 2025 | Approve Grant of Performance Rights to David Tudehope under the FY26 Macquarie Technology Group Long Term Incentive Plan | Compensation | Board | AGAINST | 6 | |
| Manila Electric Company | June 30, 2026 | Elect James L. Go as Director | Director Elections | Board | AGAINST | 6 | |
| Manila Electric Company | June 30, 2026 | Elect Jose Ma. K. Lim as Director | Director Elections | Board | AGAINST | 6 | |
| Manila Electric Company | June 30, 2026 | Elect June Cheryl A. Cabal-Revilla as Director | Director Elections | Board | AGAINST | 6 | |
| Manila Electric Company | June 30, 2026 | Elect Lance Y. Gokongwei as Director | Director Elections | Board | AGAINST | 6 | |
| Manila Electric Company | June 30, 2026 | Elect Patrick Henry C. Go as Director | Director Elections | Board | AGAINST | 6 | |
| Manila Electric Company | June 30, 2026 | Elect Ray C. Espinosa as Director | Director Elections | Board | AGAINST | 6 | |
| Manila Electric Company | June 30, 2026 | Elect Victorico P. Vargas as Director | Director Elections | Board | AGAINST | 6 | |
| Manitou BF SA | June 25, 2026 | Approve Issuance of Equity or Equity-Linked Securities Reserved for Specific Beneficiaries up to Aggregate Nominal Amount of EUR 8 Million | Capital Structure | Board | AGAINST | 6 | |
| Manitou BF SA | June 25, 2026 | Approve Issuance of Equity or Equity-Linked Securities for One or More Specifically Designated Persons up to Aggregate Nominal Amount of EUR 8 Million | Capital Structure | Board | AGAINST | 6 | |
| Manitou BF SA | June 25, 2026 | Approve Issuance of Equity or Equity-Linked Securities for Private Placements up to Aggregate Nominal Amount of EUR 8 Million | Capital Structure | Board | AGAINST | 6 | |
| Manitou BF SA | June 25, 2026 | Approve Remuneration Policy of CEO and New CEO | Compensation | Board | AGAINST | 6 | |
| Manitou BF SA | June 25, 2026 | Approve Remuneration Policy of Chairman of the Board | Compensation | Board | AGAINST | 6 | |
| Manitou BF SA | June 25, 2026 | Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Under Items 14-18 | Capital Structure | Board | AGAINST | 6 | |
| Manitou BF SA | June 25, 2026 | Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind | Capital Structure | Board | AGAINST | 6 | |
| Manitou BF SA | June 25, 2026 | Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 8 Million | Capital Structure | Board | AGAINST | 6 | |
| Marico Limited | August 8, 2025 | Approve Enhancement of Limit for Loan, Guarantee and Investment by the Company under Section 186 of the Companies Act, 2013 | Capital Structure | Board | AGAINST | 6 | |
| Marks & Spencer Group Plc | July 1, 2025 | Re-elect Sapna Sood as Director | Director Elections | Board | AGAINST | 6 | |
| Marusan Securities Co., Ltd. | June 19, 2026 | Appoint Statutory Auditor Negishi, Kazuhiro | Compensation | Board | AGAINST | 6 | |
| Marusan Securities Co., Ltd. | June 19, 2026 | Appoint Statutory Auditor Shimizu, Akio | Compensation | Board | AGAINST | 6 | |
| Marvelous, Inc. | June 23, 2026 | Appoint Statutory Auditor Hasegawa, Masumi | Compensation | Board | AGAINST | 6 | |
| Matsuya Co., Ltd. | May 28, 2026 | Elect Director and Audit Committee Member Yanagisawa, Masayuki | Director Elections | Board | AGAINST | 6 | |
| Matsuya Co., Ltd. | May 28, 2026 | Elect Director and Audit Committee Member Yoshida, Masako | Director Elections | Board | AGAINST | 6 | |
| Maxvalu Tokai Co., Ltd. | May 19, 2026 | Appoint Statutory Auditor Kumagai, Michio | Compensation | Board | AGAINST | 6 | |
| Mayr-Melnhof Karton AG | April 29, 2026 | Approve Remuneration Policy | Compensation | Board | AGAINST | 6 | |
| Mayr-Melnhof Karton AG | April 29, 2026 | Approve Remuneration Report | Compensation | Board | AGAINST | 6 | |
| Med Life SA | April 30, 2026 | Approve Share Repurchase Program to Implement Stock Option Plan | Compensation | Board | AGAINST | 6 | |
| Med Life SA | April 30, 2026 | Empower Board to Complete Formalities of Item Above | Compensation | Board | AGAINST | 6 | |
| Medacta Group SA | May 5, 2026 | Approve Remuneration for Consulting Services of Directors in the Amount of CHF 150,000 | Compensation | Board | AGAINST | 6 | |
| Medacta Group SA | May 5, 2026 | Reelect Maria Siccardi Tonolli as Director | Director Elections | Board | AGAINST | 6 | |
| Medipal Holdings Corp. | June 24, 2026 | Elect Director Watanabe, Shuichi | Director Elections | Board | AGAINST | 6 | |
| Medley, Inc. | March 27, 2026 | Approve Restricted Stock Plan | Compensation | Board | AGAINST | 6 | |
| MegaChips Corp. | June 26, 2026 | Appoint Statutory Auditor Shimomae, Yasuto | Compensation | Board | AGAINST | 6 | |
| Megaport Ltd. | November 26, 2025 | Approve Grant of Performance Restricted Stock Units to Michael Reid | Compensation | Board | AGAINST | 6 | |
| Megaport Ltd. | November 26, 2025 | Approve Remuneration Report | Compensation | Board | AGAINST | 6 | |
| Meidensha Corp. | June 25, 2026 | Elect Director and Audit Committee Member Kato, Seiji | Director Elections | Board | AGAINST | 6 | |
| Meidensha Corp. | June 25, 2026 | Elect Director and Audit Committee Member Kuroda, Takashi | Director Elections | Board | AGAINST | 6 | |
| Meidensha Corp. | June 25, 2026 | Elect Director and Audit Committee Member Nishino, Toshiya | Director Elections | Board | AGAINST | 6 | |
| Melexis NV | May 12, 2026 | Reelect Francoise Chombar as Director | Director Elections | Board | AGAINST | 6 | |
| Menora Mivtachim Holdings Ltd. | October 5, 2025 | Reelect Shay Feldman as Director and Approve His Remuneration | Director Elections | Board | AGAINST | 6 | |
| Meta Platforms, Inc. | May 27, 2026 | Elect Peggy Alford | Director Elections | Board | WITHHOLD | 6 | |
| Metropole Television SA | April 28, 2026 | Approve Compensation Report of Corporate Officers | Compensation | Board | AGAINST | 6 | |
| Metropole Television SA | April 28, 2026 | Approve Compensation of David Larramendy, Chairman of the Management Board | Compensation | Board | AGAINST | 6 | |
| Metropole Television SA | April 28, 2026 | Approve Compensation of Guillaume Charles, Management Board Member | Compensation | Board | AGAINST | 6 | |
| Metropole Television SA | April 28, 2026 | Approve Compensation of Henri de Fontaines, Management Board Member | Compensation | Board | AGAINST | 6 | |
| Metropole Television SA | April 28, 2026 | Approve Compensation of Hortense Thomine-Desmazures, Management Board Member | Compensation | Board | AGAINST | 6 | |
| Metropole Television SA | April 28, 2026 | Approve Compensation of Karine Blouet, Management Board Member | Compensation | Board | AGAINST | 6 | |
| Metropole Television SA | April 28, 2026 | Approve Remuneration Policy of Chairman of the Management Board | Compensation | Board | AGAINST | 6 | |
| Metropole Television SA | April 28, 2026 | Approve Remuneration Policy of Management Board Members | Compensation | Board | AGAINST | 6 | |
| Midac Holdings Co., Ltd. | June 26, 2026 | Elect Director Kato, Keiko | Director Elections | Board | AGAINST | 6 | |
| Midac Holdings Co., Ltd. | June 26, 2026 | Elect Director and Audit Committee Member Hyoyama, Hatsuo | Director Elections | Board | AGAINST | 6 | |
| Mie Kotsu Group Holdings, Inc. | June 18, 2026 | Elect Alternate Director and Audit Committee Member Nakamura, Tetsuo | Director Elections | Board | AGAINST | 6 | |
| Mie Kotsu Group Holdings, Inc. | June 18, 2026 | Elect Director Masuda, Michiyasu | Director Elections | Board | AGAINST | 6 | |
| Mie Kotsu Group Holdings, Inc. | June 18, 2026 | Elect Director and Audit Committee Member Beppu, Michitaka | Director Elections | Board | AGAINST | 6 |
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Built October 25, 2026 from SEC Form N-PX filings.