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 |
|---|---|---|---|---|---|---|---|
| Arabian Contracting Services Co. | March 15, 2026 | Elect Nayif Al Theeb as Director | Director Elections | Board | ABSTAIN | 5 | |
| Arabian Contracting Services Co. | March 15, 2026 | Elect Sami Al Muteeri as Director | Director Elections | Board | ABSTAIN | 5 | |
| Arabian Contracting Services Co. | March 15, 2026 | Elect Yasir Al Harbi as Director | Director Elections | Board | ABSTAIN | 5 | |
| Arabian Contracting Services Co. | March 15, 2026 | Elect Yazeed Al Subayee as Director | Director Elections | Board | ABSTAIN | 5 | |
| Arabian Contracting Services Co. | March 15, 2026 | Elect Yousif Qustanteeni as Director | Director Elections | Board | ABSTAIN | 5 | |
| Arcelik AS | March 16, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| Archean Chemical Industries Ltd. | June 12, 2026 | Reelect Ravi Pendurthi as Director | Director Elections | Board | AGAINST | 5 | |
| Arctech Solar Holding Co., Ltd. | August 1, 2025 | Approve Remuneration of Directors | Compensation | Board | AGAINST | 5 | |
| Arctech Solar Holding Co., Ltd. | May 8, 2026 | Approve Provision of Guarantees | Capital Structure | Board | AGAINST | 5 | |
| Ardelyx, Inc. | June 16, 2026 | To approve the amendment to the Amended and Restated 2014 Equity Incentive Award Plan, or the Restated Plan, to increase the maximum number of shares of common stock that may be delivered pursuant to awards granted under the Restated Plan by 9,000,000 shares. | Compensation | Board | AGAINST | 5 | |
| Ardentec Corp. | May 28, 2026 | Elect a Representative of Chiu Chiang Investment Co., Ltd., with Shareholder No. 53120, as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Arriyadh Development Co. | May 13, 2026 | Approve Remuneration of Directors of SAR 1,800,000 for FY 2025 | Compensation | Board | AGAINST | 5 | |
| Arvind Fashions Limited | August 26, 2025 | Reelect Suresh Jayaraman as Director | Director Elections | Board | AGAINST | 5 | |
| Arvind Limited | August 8, 2025 | Reelect Jayesh Shah as Director | Director Elections | Board | AGAINST | 5 | |
| Ashoka Buildcon Limited | March 8, 2026 | Reelect Shilpa Hiran as Director | Director Elections | Board | AGAINST | 5 | |
| Aster DM Healthcare Limited | April 12, 2026 | Approve Granting Loans/Giving Guarantees or Providing Securities under Section 185 of the Companies Act, 2013 | Capital Structure | Board | AGAINST | 5 | |
| Atlantic International Corp. | November 7, 2025 | To approve the Company's 2025 equity incentive plan. | Compensation | Board | AGAINST | 5 | |
| Auren Energia SA | April 27, 2026 | Elect Andre Ermirio de Moraes Macedo as Director | Director Elections | Board | AGAINST | 5 | |
| Auren Energia SA | April 27, 2026 | Elect Carlos da Costa Parcias Junior as Director | Director Elections | Board | AGAINST | 5 | |
| Auren Energia SA | April 27, 2026 | Elect Caroline Carlos as Director | Director Elections | Board | AGAINST | 5 | |
| Auren Energia SA | April 27, 2026 | Elect Helena Scripilliti Ferreira Velloso as Director | Director Elections | Board | AGAINST | 5 | |
| Auren Energia SA | April 27, 2026 | Elect Joao Henrique Batista de Souza Schmidt as Board Chair | Director Elections | Board | AGAINST | 5 | |
| Auren Energia SA | April 27, 2026 | Elect Joao Henrique Batista de Souza Schmidt as Director | Director Elections | Board | AGAINST | 5 | |
| Auren Energia SA | April 27, 2026 | Elect Ricardo Szlejf as Director | Director Elections | Board | AGAINST | 5 | |
| Auren Energia SA | April 27, 2026 | In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below? | Director Elections | Board | ABSTAIN | 5 | |
| Auren Energia SA | April 27, 2026 | Percentage of Votes to Be Assigned - Elect Andre Ermirio de Moraes Macedo as Director | Director Elections | Board | ABSTAIN | 5 | |
| Auren Energia SA | April 27, 2026 | Percentage of Votes to Be Assigned - Elect Carlos da Costa Parcias Junior as Director | Director Elections | Board | ABSTAIN | 5 | |
| Auren Energia SA | April 27, 2026 | Percentage of Votes to Be Assigned - Elect Caroline Carlos as Director | Director Elections | Board | ABSTAIN | 5 | |
| Auren Energia SA | April 27, 2026 | Percentage of Votes to Be Assigned - Elect Helena Scripilliti Ferreira Velloso as Director | Director Elections | Board | ABSTAIN | 5 | |
| Auren Energia SA | April 27, 2026 | Percentage of Votes to Be Assigned - Elect Joao Henrique Batista de Souza Schmidt as Director | Director Elections | Board | ABSTAIN | 5 | |
| Auren Energia SA | April 27, 2026 | Percentage of Votes to Be Assigned - Elect Maria Leticia Freitas Costa as Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| Auren Energia SA | April 27, 2026 | Percentage of Votes to Be Assigned - Elect Ricardo Szlejf as Director | Director Elections | Board | ABSTAIN | 5 | |
| Auren Energia SA | April 27, 2026 | Percentage of Votes to Be Assigned - Elect Sergio Ricardo Romani as Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| Autel Intelligent Technology Corp. Ltd. | April 10, 2026 | Approve External Guarantees | Capital Structure | Board | AGAINST | 5 | |
| Authum Investment & Infrastructure Ltd. | December 12, 2025 | Approve Authum Investment & Infrastructure Limited Employee Stock Option Scheme 2025 | Compensation | Board | AGAINST | 5 | |
| Authum Investment & Infrastructure Ltd. | December 12, 2025 | Approve Grant of Employee Stock Options to the Employees of Subsidiary Company(ies) of the Company under Authum Investment & Infrastructure Limited Employee Stock Option Scheme 2025 | Compensation | Board | AGAINST | 5 | |
| Aydem Yenilenebilir Enerji AS | August 11, 2025 | Amend Article 6 Re: Capital Related | Capital Structure | Board | AGAINST | 5 | |
| Aydem Yenilenebilir Enerji AS | August 11, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| B-Soft Co., Ltd. | October 15, 2025 | Approve Authorization of the Board to Handle All Matters Related to Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| B-Soft Co., Ltd. | October 15, 2025 | Approve Draft and Summary of Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| B-Soft Co., Ltd. | October 15, 2025 | Approve Management Method of Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| BES Engineering Corp. | May 21, 2026 | Elect Chih-Ming Chou, a Representative of Ten King Investment Co., Ltd. with Shareholder No. 00061322, as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| BES Engineering Corp. | May 21, 2026 | Elect Hsiang-Sheng Chu, with Shareholder No. A120295XXX, as Independent Director | Director Elections | Board | AGAINST | 5 | |
| BES Engineering Corp. | May 21, 2026 | Elect Mei-Yuan Yang, a Representative of Yang Jen Industrial Co., Ltd. with Shareholder No. 00508639, as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| BES Engineering Corp. | May 21, 2026 | Elect Yen-Ping Liang, with Shareholder No. M220150XXX, as Independent Director | Director Elections | Board | AGAINST | 5 | |
| BHI Co., Ltd. | March 28, 2026 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 5 | |
| BHI Co., Ltd. | March 28, 2026 | Elect Noh Jong-moon as Outside Director | Director Elections | Board | AGAINST | 5 | |
| BRISTOW GROUP INC. | June 3, 2026 | Elect Christopher Bradshaw | Director Elections | Board | WITHHOLD | 5 | |
| BRP Inc. | May 28, 2026 | Elect Director Edward Philip | Director Elections | Board | AGAINST | 5 | |
| BRP Inc. | May 28, 2026 | Elect Director Elaine Beaudoin | Director Elections | Board | AGAINST | 5 | |
| BRP Inc. | May 28, 2026 | Elect Director Joshua Bekenstein | Director Elections | Board | AGAINST | 5 | |
| BTG Hotels (Group) Co., Ltd. | April 22, 2026 | Approve Provision of Financial Assistance | Capital Structure | Board | AGAINST | 5 | |
| BTS Group Holdings Public Company Limited | July 25, 2025 | Elect Kong Chi Keung as Director | Director Elections | Board | AGAINST | 5 | |
| BW Offshore Ltd. | May 14, 2026 | Approve Remuneration Policy And Other Terms of Employment For Executive Management | Compensation | Board | AGAINST | 5 | |
| BYD Company Limited | June 9, 2026 | Authorize the Board to Determine the Proposed Plan for the Issuance of Debt Financing Instrument(s) | Capital Structure | Board | AGAINST | 5 | |
| Bagfas Bandirma Gubre Fabrikalari AS | March 6, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| Bagfas Bandirma Gubre Fabrikalari AS | March 6, 2026 | Authorize Share Capital Increase with Preemptive Rights | Capital Structure | Board | AGAINST | 5 | |
| Bagfas Bandirma Gubre Fabrikalari AS | March 6, 2026 | Ratify External Auditors | Audit-related | Board | AGAINST | 5 | |
| Bajaj Consumer Care Limited | August 11, 2025 | Amend Existing Bajaj Corp Employee Restricted Stock Unit Plan 2018 | Compensation | Board | AGAINST | 5 | |
| Bajaj Consumer Care Limited | August 11, 2025 | Approve Appointment and Remuneration of Sumit Malhotra as Non-Executive, Non-Independent Director | Director Elections | Board | AGAINST | 5 | |
| Bakkt Holdings, Inc. | August 6, 2025 | To approve the Increase of Authorized Shares Proposal. | Capital Structure | Board | AGAINST | 5 | |
| Ballys Intralot SA | May 28, 2026 | Advisory Vote on Remuneration Report | Compensation | Board | AGAINST | 5 | |
| Ballys Intralot SA | May 28, 2026 | Appoint Auditor for Sustainability Reporting and Approve Their Remuneration | Audit-related | Board | AGAINST | 5 | |
| Ballys Intralot SA | May 28, 2026 | Approve Auditors and Fix Their Remuneration | Audit-related | Board | AGAINST | 5 | |
| Ballys Intralot SA | May 28, 2026 | Approve Director Remuneration for 2025 | Compensation | Board | AGAINST | 5 | |
| Ballys Intralot SA | May 28, 2026 | Pre-approve Director Remuneration for 2026 | Compensation | Board | AGAINST | 5 | |
| Banco Santander (Brasil) SA | July 4, 2025 | In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below? | Director Elections | Board | ABSTAIN | 5 | |
| Banco Santander (Brasil) SA | July 4, 2025 | Percentage of Votes to Be Assigned - Elect Nitin Prabhu as Director | Director Elections | Board | ABSTAIN | 5 | |
| Bandhan Bank Limited | August 21, 2025 | Approve V. Singhi & Associates, Chartered Accountants as Joint Statutory Auditors and Authorize Board to Fix Their Remuneration | Audit-related | Board | AGAINST | 5 | |
| Bangkok Airways Public Company Limited | April 8, 2026 | Elect Sripop Sarasas as Director | Director Elections | Board | AGAINST | 5 | |
| Bank of Guiyang Co., Ltd. | November 26, 2025 | Approve Acquisition of Xifeng Development Rural Bank Co., Ltd. to Establish a Branch | Extraordinary Transactions | Board | AGAINST | 5 | |
| Bank of Guiyang Co., Ltd. | May 13, 2026 | Approve Formulation of Remuneration Management System for Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| Bank of Hangzhou Co., Ltd. | May 15, 2026 | Approve to Formulate the Remuneration Management System for Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| Bank of Hangzhou Co., Ltd. | May 15, 2026 | Approve to Formulate the Remuneration Plan of Directors | Compensation | Board | AGAINST | 5 | |
| Bank of Lanzhou Co., Ltd. | November 18, 2025 | Approve Acquisition of Qingcheng County Jincheng Rural Bank to Establish a Branch | Extraordinary Transactions | Board | AGAINST | 5 | |
| Bank of Maharashtra | March 23, 2026 | Elect Alok Jain as Director | Director Elections | Board | AGAINST | 5 | |
| Bank of Maharashtra | March 23, 2026 | Elect Prasenjeet Shrikrishna Fadnavis as Director | Director Elections | Board | AGAINST | 5 | |
| Bank of Maharashtra | March 23, 2026 | Elect Reena Jha Tripathi as Director | Director Elections | Board | AGAINST | 5 | |
| Bank of Maharashtra | March 23, 2026 | Elect Ruma Dey as Director | Director Elections | Board | AGAINST | 5 | |
| Bank of Maharashtra | June 30, 2026 | Approve Appointment of Sushanta Kumar Mohanty as Executive Director | Compensation | Board | AGAINST | 5 | |
| Bank of Ningbo Co., Ltd. | February 26, 2026 | Elect Bei Duoguang as Director | Director Elections | Board | AGAINST | 5 | |
| Baoshan Iron & Steel Co., Ltd. | May 21, 2026 | Approve to Formulate Director Performance Evaluation and Remuneration Management Measures | Compensation | Board | AGAINST | 5 | |
| Batisoke Soke Cimento Sanayii TAS | June 3, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| Batisoke Soke Cimento Sanayii TAS | June 3, 2026 | Elect Directors | Director Elections | Board | AGAINST | 5 | |
| Beijing Balance Medical Technology Co., Ltd. | May 12, 2026 | Approve 2026 Remuneration (Allowance) of Directors | Compensation | Board | AGAINST | 5 | |
| Beijing Chunlizhengda Medical Instruments Co., Ltd. | November 19, 2025 | Amend Management Measures for Use of Proceeds | Capital Structure | Board | AGAINST | 5 | |
| Beijing Dabeinong Technology Group Co., Ltd. | May 15, 2026 | Approve Estimated Amount of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Beijing Electronic Zone High-tech Group Co., Ltd. | May 14, 2026 | Approve 2025 and 2026 Remuneration of Directors and Senior Management | Compensation | Board | AGAINST | 5 | |
| Beijing GeoEnviron Engineering & Technology, Inc. | January 7, 2026 | Approve Additional Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Beijing Global Safety Technology Co., Ltd. | May 19, 2026 | Approve Application of Bank Credit Lines | Capital Structure | Board | AGAINST | 5 | |
| Beijing Jingneng Clean Energy Co., Limited | June 25, 2026 | Approve Grant of General Mandate to the Board to Determine the Issuance of Debt Financing Instruments | Capital Structure | Board | AGAINST | 5 | |
| Beijing Relpow Technology Co., Ltd. | May 12, 2026 | Approve the Estimated External Guarantee Amount | Capital Structure | Board | AGAINST | 5 | |
| Beijing Sifang Automation Co., Ltd. | May 7, 2026 | Approve 2026 Remuneration of Directors | Compensation | Board | AGAINST | 5 | |
| Beijing Strong Biotechnologies, Inc. | April 27, 2026 | Approve Downward Adjustment of Conversion Price | Capital Structure | Board | AGAINST | 5 | |
| Beijing United Information Technology Co., Ltd. | September 16, 2025 | Approve Credit Line Application and Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Beijing United Information Technology Co., Ltd. | March 23, 2026 | Approve Credit Line Application and Guarantee Matter | Capital Structure | Board | AGAINST | 5 | |
| Beijing Wandong Medical Technology Co., Ltd. | January 26, 2026 | Elect Wang Jianguo as Director | Director Elections | Board | AGAINST | 5 | |
| Beijing Wandong Medical Technology Co., Ltd. | April 21, 2026 | Approve Remuneration Assessment and the Formulation of Directors' Remuneration Plan | Compensation | Board | AGAINST | 5 | |
| Beijing Yuanliu Hongyuan Electronic Technology Co., Ltd. | April 21, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Beijing Zhong Ke San Huan High-Tech Co., Ltd. | August 12, 2025 | Approve Formulation of Remuneration Management Method for Enterprise Leaders and Management Method for the Performance Evaluation of Enterprise Leaders | Compensation | Board | AGAINST | 5 |
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Built November 7, 2026 from SEC Form N-PX filings.