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 |
|---|---|---|---|---|---|---|---|
| The Chiba Kogyo Bank Ltd. | June 23, 2026 | Appoint Statutory Auditor Shirai, Katsumi | Compensation | Board | AGAINST | 6 | |
| The Chiba Kogyo Bank Ltd. | June 23, 2026 | Elect Director Umeda, Hitoshi | Director Elections | Board | AGAINST | 6 | |
| The Ehime Bank, Ltd. | June 26, 2026 | Appoint Statutory Auditor Sasaki, Tetsuya | Compensation | Board | AGAINST | 6 | |
| The Ehime Bank, Ltd. | June 26, 2026 | Elect Director Nishikawa, Yoshinori | Director Elections | Board | AGAINST | 6 | |
| The Fukui Bank, Ltd. | June 27, 2026 | Elect Director Fujihara, Masatsugu | Director Elections | Board | AGAINST | 6 | |
| The Fukui Bank, Ltd. | June 27, 2026 | Elect Director Hasegawa, Eiichi | Director Elections | Board | AGAINST | 6 | |
| The Fukui Bank, Ltd. | June 27, 2026 | Elect Director Hayashi, Masahiro | Director Elections | Board | AGAINST | 6 | |
| The Fukui Bank, Ltd. | June 27, 2026 | Elect Director Okazaki, Hideichi | Director Elections | Board | AGAINST | 6 | |
| The Fukui Bank, Ltd. | June 27, 2026 | Elect Director Tagawa, Hiromi | Director Elections | Board | AGAINST | 6 | |
| The Fukui Bank, Ltd. | June 27, 2026 | Elect Director Takinami, Shiori | Director Elections | Board | AGAINST | 6 | |
| The Gulf Bank of Kuwait | March 14, 2026 | Approve Loans, or Providing Facilities, Letters of Guarantee and All Other Banking Transactions to Directors | Compensation | Board | AGAINST | 6 | |
| The Gulf Bank of Kuwait | March 14, 2026 | Approve Remuneration of Directors of KWD 430,000 for FY 2025 | Compensation | Board | AGAINST | 6 | |
| The Gulf Bank of Kuwait | March 14, 2026 | Authorize Issuance of Bonds of all Types and Authorize Board to Set Terms of Issuance and to Take all the Necessary Actions and Procedures Regarding the Issuance | Capital Structure | Board | AGAINST | 6 | |
| The Hyakujushi Bank, Ltd. | June 26, 2026 | Elect Director Mori, Masashi | Director Elections | Board | AGAINST | 6 | |
| The Japan Wool Textile Co., Ltd. | February 25, 2026 | Appoint Statutory Auditor Kawamura, Yoshiro | Compensation | Board | AGAINST | 6 | |
| The Kansai Electric Power Co., Inc. | June 25, 2026 | Elect Director Araki, Makoto | Director Elections | Board | AGAINST | 6 | |
| The Kansai Electric Power Co., Inc. | June 25, 2026 | Elect Director Nishizawa, Nobuhiro | Director Elections | Board | AGAINST | 6 | |
| The Kansai Electric Power Co., Inc. | June 25, 2026 | Elect Director Sono, Kiyoshi | Director Elections | Board | AGAINST | 6 | |
| The Nisshin OilliO Group, Ltd. | June 23, 2026 | Appoint Statutory Auditor Watanabe, Nobuyuki | Compensation | Board | AGAINST | 6 | |
| The Ogaki Kyoritsu Bank Ltd. | June 23, 2026 | Elect Director Hayashi, Takaharu | Director Elections | Board | AGAINST | 6 | |
| The Pack Corp. | March 26, 2026 | Appoint Statutory Auditor Ito, Haruyasu | Compensation | Board | AGAINST | 6 | |
| The Pack Corp. | March 26, 2026 | Elect Director Nakamura, Naoki | Director Elections | Board | AGAINST | 6 | |
| The Shiga Bank, Ltd. | June 24, 2026 | Appoint Statutory Auditor Kataoka, Kazuaki | Compensation | Board | AGAINST | 6 | |
| The Shiga Bank, Ltd. | June 24, 2026 | Elect Director Kubota, Shinya | Director Elections | Board | AGAINST | 6 | |
| The Shikoku Bank, Ltd. | June 26, 2026 | Elect Director Yamamoto, Fumiaki | Director Elections | Board | AGAINST | 6 | |
| The Yamagata Bank, Ltd. | June 25, 2026 | Elect Director Sato, Eiji | Director Elections | Board | AGAINST | 6 | |
| The Yamagata Bank, Ltd. | June 25, 2026 | Elect Director and Audit Committee Member Takashima, Kiyohiko | Director Elections | Board | AGAINST | 6 | |
| The Yamagata Bank, Ltd. | June 25, 2026 | Elect Director and Audit Committee Member Toyama, Yutaka | Director Elections | Board | AGAINST | 6 | |
| The Yokohama Rubber Co., Ltd. | March 27, 2026 | Elect Alternate Director and Audit Committee Member Furukawa, Junichi | Director Elections | Board | AGAINST | 6 | |
| Thermax Limited | July 31, 2025 | Approve Reappointment and Remuneration of Ashish Bhandari as Managing Director and CEO | Compensation | Board | AGAINST | 6 | |
| Tibet Urban Development & Investment Co., Ltd. | June 2, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 6 | |
| Tilray Brands, Inc. | November 18, 2025 | Approval of the non-binding advisory resolution on the named executive officer compensation; | Say-on-Pay | Board (inferred) | AGAINST | 6 | |
| Time Interconnect Technology Limited | May 29, 2026 | Elect Luk Wai Shing as Director | Director Elections | Board | AGAINST | 6 | |
| Tinexta SpA | April 22, 2026 | Approve Remuneration Policy | Compensation | Board | AGAINST | 6 | |
| Titan Company Limited | July 22, 2025 | Reelect Mariam Pallavi Baldev as Director | Director Elections | Board | AGAINST | 6 | |
| Toagosei Co., Ltd. | March 27, 2026 | Elect Director and Audit Committee Member Takahashi, Yoshihito | Director Elections | Board | AGAINST | 6 | |
| Toagosei Co., Ltd. | March 27, 2026 | Elect Director and Audit Committee Member Teramoto, Toshiyuki | Director Elections | Board | AGAINST | 6 | |
| Toei Animation Co., Ltd. | June 23, 2026 | Elect Director Takagi, Katsuhiro | Director Elections | Board | AGAINST | 6 | |
| Toei Co., Ltd. | June 26, 2026 | Elect Director Yoshimura, Fumio | Director Elections | Board | AGAINST | 6 | |
| Toei Co., Ltd. | June 26, 2026 | Elect Director and Audit Committee Member Inamoto, Chika | Director Elections | Board | AGAINST | 6 | |
| Toei Co., Ltd. | June 26, 2026 | Elect Director and Audit Committee Member Sato, Hitoshi | Director Elections | Board | AGAINST | 6 | |
| Tohoku Electric Power Co., Inc. | June 25, 2026 | Elect Director Higuchi, Kojiro | Director Elections | Board | AGAINST | 6 | |
| Tohoku Electric Power Co., Inc. | June 25, 2026 | Elect Director and Audit Committee Member Kusakabe, Tatsushi | Director Elections | Board | AGAINST | 6 | |
| Tohoku Electric Power Co., Inc. | June 25, 2026 | Elect Director and Audit Committee Member Sato, Kazuo | Director Elections | Board | AGAINST | 6 | |
| Tohokushinsha Film Corp. | June 26, 2026 | Elect Director Kosaka, Keiichi | Director Elections | Board | AGAINST | 6 | |
| Tohokushinsha Film Corp. | June 26, 2026 | Elect Director and Audit Committee Member Akiyama, Toru | Director Elections | Board | AGAINST | 6 | |
| Tohokushinsha Film Corp. | June 26, 2026 | Elect Director and Audit Committee Member Minowa, Toshiyuki | Director Elections | Board | AGAINST | 6 | |
| Token Corp. | July 29, 2025 | Elect Director Soda, Minoru | Director Elections | Board | AGAINST | 6 | |
| Tokyo Kiraboshi Financial Group, Inc. | June 24, 2026 | Appoint Statutory Auditor Aya, Ryusuke | Compensation | Board | AGAINST | 6 | |
| Tokyo Kiraboshi Financial Group, Inc. | June 24, 2026 | Appoint Statutory Auditor Nobeta, Satoru | Compensation | Board | AGAINST | 6 | |
| Tokyo Kiraboshi Financial Group, Inc. | June 24, 2026 | Appoint Statutory Auditor Uchida, Hideki | Compensation | Board | AGAINST | 6 | |
| Tomoku Co., Ltd. | June 24, 2026 | Elect Director Fukazawa, Terutaka | Director Elections | Board | AGAINST | 6 | |
| Tomy Co., Ltd. | June 25, 2026 | Elect Director and Audit Committee Member Mimura, Mariko | Director Elections | Board | AGAINST | 6 | |
| Tomy Co., Ltd. | June 25, 2026 | Elect Director and Audit Committee Member Wasahara, Seiichiro | Director Elections | Board | AGAINST | 6 | |
| Tonix Pharmaceuticals Holding Corp. | May 7, 2026 | To approve the Tonix Pharmaceuticals Holding Corp. 2026 Stock Incentive Plan; | Compensation | Board | AGAINST | 6 | |
| Tonix Pharmaceuticals Holding Corp. | May 7, 2026 | To authorize the Company's Board of Directors (the "Board"), in its discretion at any time within two years after shareholder approval is obtained, to effect one or more reverse stock splits of the then-outstanding shares of the Company's common stock, having an aggregate ratio of not less than one-for-two (1:2) and not greater than one-for-two-hundred-fifty (1:250), with the exact number of reverse stock splits during such two-year period, and the exact ratio and timing of and each such reverse stock split to be determined by the Board and included in a public announcement. | Capital Structure | Board | AGAINST | 6 | |
| Topy Industries, Ltd. | June 25, 2026 | Elect Director Ishii, Hiromi | Director Elections | Board | AGAINST | 6 | |
| Topy Industries, Ltd. | June 25, 2026 | Elect Director and Audit Committee Member Fujiki, Yasuhisa | Director Elections | Board | AGAINST | 6 | |
| Topy Industries, Ltd. | June 25, 2026 | Elect Director and Audit Committee Member Makino, Shinya | Director Elections | Board | AGAINST | 6 | |
| Topy Industries, Ltd. | June 25, 2026 | Elect Director and Audit Committee Member Takahashi, Masatoshi | Director Elections | Board | AGAINST | 6 | |
| Toshiba Tec Corp. | June 29, 2026 | Elect Director Nishikori, Hironobu | Director Elections | Board | AGAINST | 6 | |
| Towa Corp. | June 26, 2026 | Elect Director Miura, Muneo | Director Elections | Board | AGAINST | 6 | |
| Towa Corp. | June 26, 2026 | Elect Director and Audit Committee Member Hattori, Hiroshi | Director Elections | Board | AGAINST | 6 | |
| Towa Corp. | June 26, 2026 | Elect Director and Audit Committee Member Tabata, Shinichi | Director Elections | Board | AGAINST | 6 | |
| Toyo Suisan Kaisha, Ltd. | June 25, 2026 | Appoint Statutory Auditor Matsumoto, Chiyoko | Compensation | Board | AGAINST | 6 | |
| Transmissora Alianca de Energia Eletrica SA | December 15, 2025 | Elect Antonio Roquim Neto as Director | Director Elections | Board | AGAINST | 6 | |
| Transmissora Alianca de Energia Eletrica SA | April 29, 2026 | Elect Felipe Jose Fonseca Attie as Fiscal Council Member and Mirian Paula Ferreira Rodrigues as Alternate (Appointed by CEMIG) | Compensation | Board | ABSTAIN | 6 | |
| Transmissora Alianca de Energia Eletrica SA | April 29, 2026 | Elect Manuel Domingues de Jesus e Pinho as Fiscal Council Member and Luciana dos Santos Uchoa as Alternate (Appointed by ISA) | Compensation | Board | ABSTAIN | 6 | |
| Transmissora Alianca de Energia Eletrica SA | April 29, 2026 | Elect Ronnye Peterson Baia Antunes as Fiscal Council Member (Appointed by CEMIG) | Compensation | Board | ABSTAIN | 6 | |
| Transmissora Alianca de Energia Eletrica SA | April 29, 2026 | In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below? | Director Elections | Board | ABSTAIN | 6 | |
| Trelleborg AB | April 23, 2026 | Approve Remuneration Report | Compensation | Board | AGAINST | 6 | |
| Trelleborg AB | April 23, 2026 | Reelect Gunilla Fransson as Director | Director Elections | Board | AGAINST | 6 | |
| Trelleborg AB | April 23, 2026 | Reelect Henrik Lange as Director | Director Elections | Board | AGAINST | 6 | |
| Tri Chemical Laboratories, Inc. | April 27, 2026 | Elect Director Tazuke, Kiyoshi | Director Elections | Board | AGAINST | 6 | |
| Trigano SA | January 6, 2026 | Approve Compensation Report of Corporate Officers | Compensation | Board | AGAINST | 6 | |
| Trigano SA | January 6, 2026 | Approve Compensation of Francois Feuillet, Chairman of the Supervisory Board | Compensation | Board | AGAINST | 6 | |
| Trigano SA | January 6, 2026 | Approve Compensation of Michel Freiche, CEO | Compensation | Board | AGAINST | 6 | |
| Trigano SA | January 6, 2026 | Approve Compensation of Stephane Gigou, Chairman of the Management Board | Compensation | Board | AGAINST | 6 | |
| Trigano SA | January 6, 2026 | Approve Remuneration Policy of CEOs | Compensation | Board | AGAINST | 6 | |
| Trigano SA | January 6, 2026 | Approve Remuneration Policy of Chairman of the Management Board | Compensation | Board | AGAINST | 6 | |
| Trigano SA | January 6, 2026 | Approve Remuneration Policy of Management Board Members | Compensation | Board | AGAINST | 6 | |
| Trina Solar Co., Ltd. | August 14, 2025 | Approve Downward Adjustment on Conversion Price of Convertible Bonds | Capital Structure | Board | AGAINST | 6 | |
| Trina Solar Co., Ltd. | December 29, 2025 | Approve Comprehensive Financing and Provision of Guarantee | Capital Structure | Board | AGAINST | 6 | |
| Tsutsumi Jewelry Co., Ltd. | June 25, 2026 | Elect Director Tagai, Satoshi | Director Elections | Board | AGAINST | 6 | |
| Turk Hava Yollari AO | April 9, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 6 | |
| Turk Hava Yollari AO | April 9, 2026 | Ratify External Auditors | Audit-related | Board | AGAINST | 6 | |
| Turkiye Halk Bankasi AS | April 9, 2026 | Approve Remuneration of Directors and Internal Auditors | Compensation | Board | AGAINST | 6 | |
| Turkiye Halk Bankasi AS | April 9, 2026 | Elect Board of Directors and Internal Auditors | Director Elections | Board | AGAINST | 6 | |
| Turkiye Petrol Rafinerileri AS | March 11, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 6 | |
| Turkiye Sinai Kalkinma Bankasi AS | March 26, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 6 | |
| Turkiye Sinai Kalkinma Bankasi AS | March 26, 2026 | Ratify Director Appointments | Director Elections | Board | AGAINST | 6 | |
| Turkiye Sise ve Cam Fabrikalari AS | March 27, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 6 | |
| Turkiye Vakiflar Bankasi TAO | April 9, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 6 | |
| Turkiye Vakiflar Bankasi TAO | April 9, 2026 | Elect Directors | Director Elections | Board | AGAINST | 6 | |
| Turkiye Vakiflar Bankasi TAO | April 9, 2026 | Elect Members of Audit Committee | Director Elections | Board | AGAINST | 6 | |
| Two Point Zero Group PJSC | March 12, 2026 | Approve Remuneration of Directors for the Fiscal Year Ended 31/12/2025 | Compensation | Board | AGAINST | 6 | |
| U-NEXT HOLDINGS Co., Ltd. | November 27, 2025 | Elect Director Uno, Yasuhide | Director Elections | Board | AGAINST | 6 | |
| UBTECH Robotics Corp. Ltd. | December 10, 2025 | Approve Providing Guarantees to Subsidiaries | Capital Structure | Board | AGAINST | 6 | |
| UIE Plc | May 20, 2026 | Reelect Carl Bek-Nielsen as Director | Director Elections | Board | ABSTAIN | 6 | |
| UIE Plc | May 20, 2026 | Reelect Martin Bek-Nielsen as Director | Director Elections | Board | ABSTAIN | 6 |
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Built November 7, 2026 from SEC Form N-PX filings.