Home › Asset managers › Vanguard › 2025-2026 › Against the board
At least 6,029 proposals in the 2025-2026 proxy season: Vanguard voted against, or withheld its votes from, at least 6,000 proposals put forward by company boards, and voted for 29 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
6,029 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 |
|---|---|---|---|---|---|---|---|
| PROG HOLDINGS, INC. | May 6, 2026 | Election of Director: Caroline S. Sheu | Director Elections | Board | AGAINST | 6 | |
| PROG HOLDINGS, INC. | May 6, 2026 | Election of Director: Curtis L. Doman | Director Elections | Board | AGAINST | 6 | |
| PROG HOLDINGS, INC. | May 6, 2026 | Election of Director: Cynthia N. Day | Director Elections | Board | AGAINST | 6 | |
| PROG HOLDINGS, INC. | May 6, 2026 | Election of Director: Douglas C. Curling | Director Elections | Board | AGAINST | 6 | |
| PROG HOLDINGS, INC. | May 6, 2026 | Election of Director: Ray M. Martinez | Director Elections | Board | AGAINST | 6 | |
| PROG HOLDINGS, INC. | May 6, 2026 | Election of Director: Ray M. Robinson | Director Elections | Board | AGAINST | 6 | |
| PROG HOLDINGS, INC. | May 6, 2026 | Election of Director: Steven A. Michaels | Director Elections | Board | AGAINST | 6 | |
| PROGRESS SOFTWARE CORPORATION | May 7, 2026 | To approve, on an advisory basis, the compensation of Progress Software Corporation's named executive officers. | Compensation | Board | AGAINST | 6 | |
| PROTAGONIST THERAPEUTICS, INC. | June 17, 2026 | To approve the adoption of the Company's 2026 Equity Incentive Plan. | Compensation | Board | AGAINST | 6 | |
| PSK, Inc. | March 30, 2026 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 6 | |
| PT Amman Mineral Internasional Tbk | May 19, 2026 | Approve Changes in the Boards of the Company | Director Elections | Board | AGAINST | 6 | |
| PT Amman Mineral Internasional Tbk | May 19, 2026 | Approve Transfer of Shares from the Buyback | Capital Structure | Board | AGAINST | 6 | |
| PT Charoen Pokphand Indonesia Tbk | May 20, 2026 | Approve Auditors | Audit-related | Board | AGAINST | 6 | |
| PT Dayamitra Telekomunikasi | September 16, 2025 | Approve Changes in the Boards of the Company | Director Elections | Board | AGAINST | 6 | |
| PT GoTo Gojek Tokopedia Tbk | June 18, 2026 | Amend Articles of Association in Relation to the Increase in the Issued and Paid Up Capital | Capital Structure | Board | AGAINST | 6 | |
| PT GoTo Gojek Tokopedia Tbk | June 18, 2026 | Approve Issuance of New Shares Based on the Share Ownership Program and Delegation of Authority to Commissioners | Compensation | Board | AGAINST | 6 | |
| PT Jasa Marga (Persero) Tbk | May 20, 2026 | Approve Changes in the Boards of the Company | Director Elections | Board | AGAINST | 6 | |
| PT Kalbe Farma Tbk | May 21, 2026 | Approve Changes in the Boards of the Company | Director Elections | Board | AGAINST | 6 | |
| PT Perusahaan Gas Negara (Persero) Tbk | May 22, 2026 | Approve Changes in the Boards of the Company | Director Elections | Board | AGAINST | 6 | |
| PT Perusahaan Gas Negara Tbk | December 29, 2025 | Amendment of Shareholder Rights | Capital Structure | Board | AGAINST | 6 | |
| PT Semen Indonesia (Persero) Tbk | May 8, 2026 | Approve Auditors | Audit-related | Board | AGAINST | 6 | |
| PT Summarecon Agung Tbk | June 11, 2026 | Approve Pledging of Assets for Debt | Capital Structure | Board | AGAINST | 6 | |
| PTT Oil and Retail Business Public Company Limited | April 9, 2026 | Approve EY Office Limited as Auditors and Authorize Board to Fix Their Remuneration | Audit-related | Board | AGAINST | 6 | |
| PTT Oil and Retail Business Public Company Limited | April 9, 2026 | Elect Jirabhop Bhuridej as Director | Director Elections | Board | AGAINST | 6 | |
| PTT Oil and Retail Business Public Company Limited | April 9, 2026 | Elect Supat Metheeworapote as Director | Director Elections | Board | AGAINST | 6 | |
| PTT Public Co., Ltd. | April 10, 2026 | Approve PTT's 5-Year Fund Raising Plan (for 2026-2030) | Capital Structure | Board | AGAINST | 6 | |
| Pacific Metals Co., Ltd. | June 24, 2026 | Appoint Statutory Auditor Hashizume, Hiroshi | Compensation | Board | AGAINST | 6 | |
| Page Industries Limited | August 7, 2025 | Approve Continuation of Ramesh Genomal as Director | Director Elections | Board | AGAINST | 6 | |
| Pan Ocean Co., Ltd. | March 27, 2026 | Approve Terms of Retirement Pay | Compensation | Board | AGAINST | 6 | |
| Pandora AS | March 11, 2026 | Reelect Catherine Spindler as Director | Director Elections | Board | ABSTAIN | 6 | |
| Parque Arauco SA | February 24, 2026 | Amend Articles to Reflect Changes in Capital | Capital Structure | Board | AGAINST | 6 | |
| Parque Arauco SA | February 24, 2026 | Approve Allocation of 10 Percent of Capital Increase for Compensation Plan | Capital Structure | Board | AGAINST | 6 | |
| Parque Arauco SA | February 24, 2026 | Approve Registration of Shares Representing Capital Increase in Securities Registry of Commission for Financial Market (CMF) | Capital Structure | Board | AGAINST | 6 | |
| Peab AB | April 29, 2026 | Reelect Anders Runevad as Board Chair | Director Elections | Board | AGAINST | 6 | |
| Peab AB | April 29, 2026 | Reelect Anders Runevad as Director | Director Elections | Board | AGAINST | 6 | |
| Peab AB | April 29, 2026 | Reelect Fredrik Paulsson as Director | Director Elections | Board | AGAINST | 6 | |
| PearlAbyss Corp. | March 27, 2026 | Elect Lee Seon-hui as Outside Director | Director Elections | Board | AGAINST | 6 | |
| Peker Gayrimenkul Yatirim Ortakligi AS | June 16, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 6 | |
| People & Technology, Inc. | March 24, 2026 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 6 | |
| Pepco Group NV | March 11, 2026 | Approve Remuneration Report | Compensation | Board | AGAINST | 6 | |
| Petkim Petrokimya Holding AS | May 15, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 6 | |
| Petkim Petrokimya Holding AS | May 15, 2026 | Elect Directors | Director Elections | Board | AGAINST | 6 | |
| Petroleo Brasileiro SA | April 16, 2026 | Approve Remuneration of Company's Management, Fiscal Council, and Statutory Advisory Committees | Compensation | Board | AGAINST | 6 | |
| Petroleo Brasileiro SA | April 16, 2026 | Elect Bruno Moretti as Board Chair | Director Elections | Board | ABSTAIN | 6 | |
| Petroleo Brasileiro SA | April 16, 2026 | Elect Directors | Director Elections | Board | AGAINST | 6 | |
| Petroleo Brasileiro SA | April 16, 2026 | Elect Fiscal Council Members | Compensation | Board | ABSTAIN | 6 | |
| Petroleo Brasileiro SA | April 16, 2026 | Percentage of Votes to Be Assigned - Elect Benjamin Alves Rabello Filho as Director | Director Elections | Board | ABSTAIN | 6 | |
| Petroleo Brasileiro SA | April 16, 2026 | Percentage of Votes to Be Assigned - Elect Bruno Moretti as Director | Director Elections | Board | ABSTAIN | 6 | |
| Petroleo Brasileiro SA | April 16, 2026 | Percentage of Votes to Be Assigned - Elect Fabio Henrique Bittes Terra as Director | Director Elections | Board | ABSTAIN | 6 | |
| Petroleo Brasileiro SA | April 16, 2026 | Percentage of Votes to Be Assigned - Elect Jose Fernando Coura as Independent Director | Director Elections | Board | ABSTAIN | 6 | |
| Petroleo Brasileiro SA | April 16, 2026 | Percentage of Votes to Be Assigned - Elect Magda Maria de Regina Chambriard as Director | Director Elections | Board | ABSTAIN | 6 | |
| Petroleo Brasileiro SA | April 16, 2026 | Percentage of Votes to Be Assigned - Elect Marcelo Weick Pogliese as Director | Director Elections | Board | ABSTAIN | 6 | |
| Petroleo Brasileiro SA | April 16, 2026 | Percentage of Votes to Be Assigned - Elect Renato Campos Galuppo as Independent Director | Director Elections | Board | ABSTAIN | 6 | |
| Petroleo Brasileiro SA | April 16, 2026 | Percentage of Votes to Be Assigned - Elect Ricardo Baldin as Independent Director | Director Elections | Board | ABSTAIN | 6 | |
| Petronet Lng Limited | September 24, 2025 | Reelect Milind Torawane as Director | Director Elections | Board | AGAINST | 6 | |
| Petronet Lng Limited | September 24, 2025 | Reelect Pankaj Jain as Director | Director Elections | Board | AGAINST | 6 | |
| Petronet Lng Limited | April 4, 2026 | Elect Avantika Singh Aulakh as Director | Director Elections | Board | AGAINST | 6 | |
| Petronet Lng Limited | April 4, 2026 | Elect Neeraj Mittal as Director and Chairman | Director Elections | Board | AGAINST | 6 | |
| Petronet Lng Limited | June 6, 2026 | Elect Deepak Gupta as Nominee Director | Director Elections | Board | AGAINST | 6 | |
| Peugeot Invest SA | May 20, 2026 | Approve Issuance of Equity or Equity-Linked Securities for Private Placements up to Aggregate Nominal Amount of EUR 10 Million | Capital Structure | Board | AGAINST | 6 | |
| Peugeot Invest SA | May 20, 2026 | Approve Remuneration Policy of Jean-Charles Douin, CEO | Compensation | Board | AGAINST | 6 | |
| Peugeot Invest SA | May 20, 2026 | Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Above Under Items 22-24 | Capital Structure | Board | AGAINST | 6 | |
| Peugeot Invest SA | May 20, 2026 | Authorize Capital Increase of Up to EUR 10 Million for Future Exchange Offers | Capital Structure | Board | AGAINST | 6 | |
| Peugeot Invest SA | May 20, 2026 | Authorize Capital Increase of up to 20 Percent of Issued Capital for Contributions in Kind | Capital Structure | Board | AGAINST | 6 | |
| Peugeot Invest SA | May 20, 2026 | Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 10 Million | Capital Structure | Board | AGAINST | 6 | |
| Pfeiffer Vacuum Technology AG | July 2, 2025 | Approve Remuneration Report | Compensation | Board | AGAINST | 6 | |
| Pfeiffer Vacuum Technology AG | July 2, 2025 | Elect Ayla Busch to the Supervisory Board | Director Elections | Board | AGAINST | 6 | |
| Pharma Mar SA | June 29, 2026 | Advisory Vote on Remuneration Report | Compensation | Board | AGAINST | 6 | |
| Pharma Mar SA | June 29, 2026 | Reelect Emiliano Calvo Aller as Director | Director Elections | Board | AGAINST | 6 | |
| PharmaResearch Co., Ltd. | March 27, 2026 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 6 | |
| Pharmicell Co., Ltd. | March 26, 2026 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 6 | |
| Phoenix Group Plc | April 24, 2026 | Approve Remuneration of Directors for FY 2026 | Compensation | Board | AGAINST | 6 | |
| Piaggio & C SpA | April 15, 2026 | Approve Remuneration Policy | Compensation | Board | AGAINST | 6 | |
| Piraeus Port Authority SA | July 8, 2025 | Elect Zhu Changyu as Director | Director Elections | Board | AGAINST | 6 | |
| Piraeus Port Authority SA | July 8, 2025 | Pre-approve Director Remuneration for 2025 | Compensation | Board | AGAINST | 6 | |
| Planisware SA | June 17, 2026 | Approve Remuneration Policy of CEO | Compensation | Board | AGAINST | 6 | |
| Playboy, Inc. | June 16, 2026 | An advisory, non-binding vote to approve the compensation of Playboy, Inc.'s named executive officers. | Say-on-Pay | Board (inferred) | AGAINST | 6 | |
| Polynovo Limited | October 28, 2025 | Elect David Williams as Director | Director Elections | Board | AGAINST | 6 | |
| Porto Seguro SA | March 31, 2026 | In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below? | Director Elections | Board | ABSTAIN | 6 | |
| Porto Seguro SA | March 31, 2026 | Percentage of Votes to Be Assigned - Elect Andre Luis Rodrigues Teixeira as Board Vice-Chair | Director Elections | Board | ABSTAIN | 6 | |
| Porto Seguro SA | March 31, 2026 | Percentage of Votes to Be Assigned - Elect Bruno Campos Garfinkel as Board Chair | Director Elections | Board | ABSTAIN | 6 | |
| Porto Seguro SA | March 31, 2026 | Percentage of Votes to Be Assigned - Elect Celia Kochen Parnes as Independent Director | Director Elections | Board | ABSTAIN | 6 | |
| Porto Seguro SA | March 31, 2026 | Percentage of Votes to Be Assigned - Elect Lie Uema do Carmo as Independent Director | Director Elections | Board | ABSTAIN | 6 | |
| Porto Seguro SA | March 31, 2026 | Percentage of Votes to Be Assigned - Elect Patricia M. Muratori Calfat as Independent Director | Director Elections | Board | ABSTAIN | 6 | |
| Porto Seguro SA | March 31, 2026 | Percentage of Votes to Be Assigned - Elect Paula Magalhaes Cardoso Neves as Director | Director Elections | Board | ABSTAIN | 6 | |
| Porto Seguro SA | March 31, 2026 | Percentage of Votes to Be Assigned - Elect Roberto de Souza Santos as Director | Director Elections | Board | ABSTAIN | 6 | |
| Power Finance Corporation Limited | August 28, 2025 | Approve Remuneration of Statutory Auditors | Audit-related | Board | AGAINST | 6 | |
| Power Finance Corporation Limited | August 28, 2025 | Reelect Rajiv Ranjan Jha as Director | Director Elections | Board | AGAINST | 6 | |
| Press Kogyo Co., Ltd. | June 25, 2026 | Elect Director Shimizu, Yuki | Director Elections | Board | AGAINST | 6 | |
| Prima Meat Packers, Ltd. | June 25, 2026 | Appoint Statutory Auditor Kamigaichi, Yoshihiro | Compensation | Board | AGAINST | 6 | |
| Procrea Holdings, Inc. | June 25, 2026 | Elect Director Ishikawa, Keitaro | Director Elections | Board | AGAINST | 6 | |
| Prosegur Cash SA | April 29, 2026 | Advisory Vote on Remuneration Report | Compensation | Board | AGAINST | 6 | |
| Prosegur Cash SA | April 29, 2026 | Approve Long-Term Incentive Plan | Compensation | Board | AGAINST | 6 | |
| Prosegur Cash SA | April 29, 2026 | Approve Remuneration Policy | Compensation | Board | AGAINST | 6 | |
| Prosegur Cash SA | April 29, 2026 | Reelect Ana Ines Sainz de Vicuna Bemberg as Director | Director Elections | Board | AGAINST | 6 | |
| Prosegur Cash SA | April 29, 2026 | Reelect Claudio Aguirre Peman as Director | Director Elections | Board | AGAINST | 6 | |
| Prosegur Cash SA | April 29, 2026 | Reelect Daniel Entrecanales Domecq as Director | Director Elections | Board | AGAINST | 6 | |
| Prosegur Compania de Seguridad SA | April 30, 2026 | Advisory Vote on Remuneration Report | Compensation | Board | AGAINST | 6 | |
| Prosegur Compania de Seguridad SA | April 30, 2026 | Approve Long-Term Incentive Plan | Compensation | Board | AGAINST | 6 | |
| Prosegur Compania de Seguridad SA | April 30, 2026 | Approve Remuneration Policy | Compensation | Board | AGAINST | 6 |
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Built November 7, 2026 from SEC Form N-PX filings.