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 |
|---|---|---|---|---|---|---|---|
| Beiqi Foton Motor Co., Ltd. | February 5, 2026 | Approve Financing Credit Lines | Capital Structure | Board | AGAINST | 5 | |
| Bera Holding AS | June 22, 2026 | Appoint Auditor for Sustainability Reporting for 2026 | Audit-related | Board | AGAINST | 5 | |
| Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS | October 31, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS | October 31, 2025 | Approve Share Capital Increase without Preemptive Rights | Capital Structure | Board | AGAINST | 5 | |
| Besler Gida ve Kimya Sanayi ve Ticaret AS | May 12, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| Bestore Co., Ltd. | May 12, 2026 | Amend Remuneration Management System for Directors and Supervisors | Compensation | Board | AGAINST | 5 | |
| Bestore Co., Ltd. | May 12, 2026 | Approve 2025 and 2026 Remuneration of Directors | Compensation | Board | AGAINST | 5 | |
| Bestway Marine & Energy Technology Co., Ltd. | September 11, 2025 | Approve External Guarantees | Capital Structure | Board | AGAINST | 5 | |
| Bestway Marine & Energy Technology Co., Ltd. | June 9, 2026 | Approve External Guarantee Plan | Capital Structure | Board | AGAINST | 5 | |
| Bethel Automotive Safety Systems Co., Ltd. | August 18, 2025 | Approve Authorization of the Board to Handle All Matters Related to Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| Bethel Automotive Safety Systems Co., Ltd. | August 18, 2025 | Approve Draft and Summary of Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| Bethel Automotive Safety Systems Co., Ltd. | August 18, 2025 | Approve Management Method of Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| Betta Pharmaceuticals Co., Ltd. | May 15, 2026 | Approve Application for Comprehensive Financing Quotas and Provision of Guarantees | Capital Structure | Board | AGAINST | 5 | |
| Bharat Electronics Limited | August 28, 2025 | Elect Harikumar Raghavan Nair as Director | Director Elections | Board | AGAINST | 5 | |
| Bharat Electronics Limited | August 28, 2025 | Elect Kamesh Kasana as Director | Director Elections | Board | AGAINST | 5 | |
| Bharat Electronics Limited | August 28, 2025 | Elect Meera Mohanty as Director | Director Elections | Board | AGAINST | 5 | |
| Bharat Electronics Limited | August 28, 2025 | Elect Rajnish Sharma as Director | Director Elections | Board | AGAINST | 5 | |
| Bharat Electronics Limited | August 28, 2025 | Reelect K V Suresh Kumar as Director | Director Elections | Board | AGAINST | 5 | |
| Bharat Heavy Electricals Limited | August 19, 2025 | Elect Serugulathur Mahadevan Ramanathan as Director | Director Elections | Board | AGAINST | 5 | |
| Bharat Heavy Electricals Limited | August 19, 2025 | Reelect Bani Varma as Director | Director Elections | Board | AGAINST | 5 | |
| Bharat Heavy Electricals Limited | August 19, 2025 | Reelect Tajinder Gupta as Director | Director Elections | Board | AGAINST | 5 | |
| Bikaji Foods International Ltd. | September 16, 2025 | Reelect Sachin Kumar Bhartiya as Director | Director Elections | Board | AGAINST | 5 | |
| Bio-Thera Solutions, Ltd. | April 30, 2026 | Approve Transfer of Pharmaceutical Product Rights and Related Assets and Businesses | Extraordinary Transactions | Board | AGAINST | 5 | |
| Biocon Limited | August 8, 2025 | Approve Increase in the Limits Applicable for Making Investments / Extending Loans and Giving Guarantees or Providing Securities in Connection with Loans to Persons / Bodies Corporate | Capital Structure | Board | AGAINST | 5 | |
| Biotrend Cevre ve Enerji AS | April 6, 2026 | Appoint Auditor for Sustainability Reporting | Audit-related | Board | AGAINST | 5 | |
| Biotrend Cevre ve Enerji AS | April 6, 2026 | Elect Directors and Approve Their Remuneration | Director Elections | Board | AGAINST | 5 | |
| Biotrend Cevre ve Enerji AS | April 6, 2026 | Ratify External Auditors | Audit-related | Board | AGAINST | 5 | |
| Biwin Storage Technology Co., Ltd. | July 28, 2025 | Approve Financial Assistance Provision | Capital Structure | Board | AGAINST | 5 | |
| Biwin Storage Technology Co., Ltd. | September 5, 2025 | Approve Adjustment of Provision of Financial Assistance | Capital Structure | Board | AGAINST | 5 | |
| Biwin Storage Technology Co., Ltd. | December 24, 2025 | Approve Credit Line Application and Guarantee Amount | Capital Structure | Board | AGAINST | 5 | |
| Biwin Storage Technology Co., Ltd. | May 28, 2026 | Approve Increase in Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Black Peony (Group) Co. Ltd. | September 10, 2025 | Amend the Management Measures for the Remuneration Assessment of the Chairman and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| Black Peony (Group) Co. Ltd. | May 11, 2026 | Amend Remuneration Management System for Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| Bloomberry Resorts Corporation | April 16, 2026 | Elect Christian R. Gonzalez as Director | Director Elections | Board | ABSTAIN | 5 | |
| Bloomberry Resorts Corporation | April 16, 2026 | Elect Donato C. Almeda as Director | Director Elections | Board | ABSTAIN | 5 | |
| Bloomberry Resorts Corporation | April 16, 2026 | Elect Gregory Francis Hawkins as Director | Director Elections | Board | ABSTAIN | 5 | |
| Bloomberry Resorts Corporation | April 16, 2026 | Elect Jose Eduardo J. Alarilla as Director | Director Elections | Board | ABSTAIN | 5 | |
| Blue Dart Express Limited | August 13, 2025 | Reelect R.S. Subramanian as Director | Director Elections | Board | AGAINST | 5 | |
| BlueNord ASA | May 18, 2026 | Approve Remuneration Statement (Advisory Vote) | Compensation | Board | AGAINST | 5 | |
| Borosil Renewables Limited | September 23, 2025 | Approve Payment of Remuneration to Ashok Jain as Non-Executive Non-Independent Director | Compensation | Board | AGAINST | 5 | |
| Borosil Renewables Limited | September 23, 2025 | Approve Terms of Remuneration of P. K. Kheruka as Whole Time Director designated as Executive Chairman | Compensation | Board | AGAINST | 5 | |
| Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret AS | April 28, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| Boubyan Bank KSC | March 10, 2026 | Authorize Issuance of Sukuk or Other Shariah Compliant Instruments and Authorize Board to Set Terms of Issuance | Capital Structure | Board | AGAINST | 5 | |
| Braskem SA | November 13, 2025 | Elect Lucas Cive Barbosa as Director | Director Elections | Board | AGAINST | 5 | |
| BrightGene Bio-Medical Technology Co., Ltd. | October 17, 2025 | Approve Amending the Rules of the Convertible Corporate Bondholders' Meeting | Capital Structure | Board | AGAINST | 5 | |
| BrightGene Bio-Medical Technology Co., Ltd. | April 10, 2026 | Approve Application of Credit Line and Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Brookfield Business Corporation | January 13, 2026 | Approve BBUC Arrangement Resolution | Extraordinary Transactions | Board | AGAINST | 5 | |
| Buffalo, Inc. | June 25, 2026 | Elect Director and Audit Committee Member Miyajima, Hiroyuki | Director Elections | Board | AGAINST | 5 | |
| Bursa Cimento Fabrikasi AS | March 31, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| Bursa Cimento Fabrikasi AS | March 31, 2026 | Elect Directors | Director Elections | Board | AGAINST | 5 | |
| C&S Paper Co., Ltd. | July 28, 2025 | Approve Authorization of the Board to Handle All Matters Related to Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| C&S Paper Co., Ltd. | July 28, 2025 | Approve Draft and Summary of Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| C&S Paper Co., Ltd. | July 28, 2025 | Approve Management Method of Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| C&S Paper Co., Ltd. | November 13, 2025 | Amend Dividends Management System | Capital Structure | Board | AGAINST | 5 | |
| CALIFORNIA RESOURCES CORPORATION | April 30, 2026 | To approve, by non-binding vote, named executive officer compensation. | Compensation | Board | AGAINST | 5 | |
| CAMDEN PROPERTY TRUST | May 8, 2026 | Election of Trust Manager: Javier E. Benito | Director Elections | Board | AGAINST | 5 | |
| CAP SA | April 15, 2026 | Elect Directors | Director Elections | Board | AGAINST | 5 | |
| CECEP Solar Energy Co., Ltd. | May 15, 2026 | Approve Additional Guarantee | Capital Structure | Board | AGAINST | 5 | |
| CECEP Solar Energy Co., Ltd. | May 15, 2026 | Approve to Appoint Financial and Internal Control Auditor | Audit-related | Board | AGAINST | 5 | |
| CENTRAL PACIFIC FINANCIAL CORP. | April 30, 2026 | Elect Crystal K. Rose | Director Elections | Board | WITHHOLD | 5 | |
| CENTRAL PACIFIC FINANCIAL CORP. | April 30, 2026 | Elect Earl E. Fry | Director Elections | Board | WITHHOLD | 5 | |
| CENTRAL PACIFIC FINANCIAL CORP. | April 30, 2026 | Elect Paul J. Kosasa | Director Elections | Board | WITHHOLD | 5 | |
| CENTRAL PACIFIC FINANCIAL CORP. | April 30, 2026 | Elect Saedene K. Ota | Director Elections | Board | WITHHOLD | 5 | |
| CETC Cyberspace Security Technology Co., Ltd. | February 12, 2026 | Elect Tong Wei as Non-Independent Director | Director Elections | Board | AGAINST | 5 | |
| CETC Digital Technology Co., Ltd. | May 22, 2026 | Approve Limit of Funds Borrowed Between Members within the Company's Capital Center System | Capital Structure | Board | AGAINST | 5 | |
| CEVIA Enviro, Inc. | May 8, 2026 | Approve Loan Amount and Authorize the Company's Operating Management to Handle Loan-related Matters | Capital Structure | Board | AGAINST | 5 | |
| CITIC Resources Holdings Limited | June 12, 2026 | Elect Look Andrew as Director | Director Elections | Board | AGAINST | 5 | |
| CMST Development Co., Ltd. | April 29, 2026 | Approve External Guarantee | Capital Structure | Board | AGAINST | 5 | |
| CNGR Advanced Material Co., Ltd. | March 23, 2026 | Approve Proposed Application for Composite Credit Facilities and Guarantees and Its Subsidiaries from Banks and Other Institutions | Capital Structure | Board | AGAINST | 5 | |
| CONCENTRA GROUP HOLDINGS PARENT INC | April 30, 2026 | Election of Class II Director for a term of three years or until their respective successors have been elected and qualified: Vipin Gopal | Director Elections | Board | AGAINST | 5 | |
| CORCEPT THERAPEUTICS INCORPORATED | May 21, 2026 | To approve, on an advisory basis, the compensation of the company's named executive officers as disclosed in the accompanying proxy statement. | Compensation | Board | AGAINST | 5 | |
| CORE NATURAL RESOURCES, INC. | April 30, 2026 | Approval, on an Advisory Basis, of the Compensation Paid to Core Natural Resources, Inc.'s Named Executive Officers in 2025. | Compensation | Board | AGAINST | 5 | |
| COSCO Shipping Specialized Carriers Co., Ltd. | September 25, 2025 | Approve External Guarantee | Capital Structure | Board | AGAINST | 5 | |
| COSCO Shipping Specialized Carriers Co., Ltd. | June 15, 2026 | Approve Financing-related External Guarantee | Capital Structure | Board | AGAINST | 5 | |
| CPFL Energia SA | April 29, 2026 | Elect Mingming Chen as Fiscal Council Member and Li Ruijuan as Alternate | Compensation | Board | ABSTAIN | 5 | |
| CPFL Energia SA | April 29, 2026 | Elect Vinicius Nishioka as Fiscal Council Member and Luiz Claudio Gomes do Nascimento as Alternate | Compensation | Board | ABSTAIN | 5 | |
| CPFL Energia SA | April 29, 2026 | Ratify Peng Sun and Zhonghua Wei as Directors | Director Elections | Board | AGAINST | 5 | |
| CSI Solar Co., Ltd. | May 18, 2026 | Approve Formulation of Remuneration Management System for Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| CSN Mineracao SA | April 16, 2026 | Approve Remuneration of Company's Management | Compensation | Board | AGAINST | 5 | |
| CSN Mineracao SA | April 16, 2026 | Elect Victoria Steinbruch as Director | Director Elections | Board | AGAINST | 5 | |
| CSSC Science & Technology Co., Ltd. | December 26, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| CSSC Science & Technology Co., Ltd. | June 30, 2026 | Approve Remuneration and Remuneration Plan of Directors | Compensation | Board | AGAINST | 5 | |
| CTOS Digital Bhd. | June 25, 2026 | Approve Allocation of ESOS Options to Ankur Sehgal | Compensation | Board | AGAINST | 5 | |
| CTS International Logistics Corp. Ltd. | December 29, 2025 | Approve Remuneration of Directors | Compensation | Board | AGAINST | 5 | |
| CVK Maden Isletmeleri Sanayi ve Ticaret AS | May 15, 2026 | Approve Director Remuneration and Receive Information on Director Remuneration Paid in 2025 | Compensation | Board | AGAINST | 5 | |
| Caitong Securities Co., Ltd. | May 20, 2026 | Approve Securities Investment | Extraordinary Transactions | Board | AGAINST | 5 | |
| Caliway Biopharmaceuticals Co. Ltd. | May 22, 2026 | Elect Peng, Hsien-Li as Independent Director | Director Elections | Board | AGAINST | 5 | |
| Cambricon Technologies Corp. Ltd. | April 2, 2026 | Approve 2026 Remuneration and Allowances of Directors | Compensation | Board | AGAINST | 5 | |
| Can Fin Homes Limited | August 20, 2025 | Reelect Vikram Saha as Director | Director Elections | Board | AGAINST | 5 | |
| Can2 Termik AS | December 4, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| CanSino Biologics Inc. | June 10, 2026 | Approve Authorization for Issue of Onshore and Offshore Debt Financing Instruments | Capital Structure | Board | AGAINST | 5 | |
| Canfor Corporation | May 6, 2026 | Elect Director Dianne L. Watts (LLD) | Director Elections | Board | WITHHOLD | 5 | |
| Canfor Corporation | May 6, 2026 | Elect Director Ryan Barrington-Foote | Director Elections | Board | WITHHOLD | 5 | |
| Canmax Technologies Co., Ltd. | April 9, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Carabao Group Public Company Limited | April 24, 2026 | Elect Romtham Sathientham as Director | Director Elections | Board | AGAINST | 5 | |
| Cathay Biotech, Inc. | October 15, 2025 | Approve Authorization of the Board to Handle All Related Matters | Compensation | Board | AGAINST | 5 | |
| Cathay Biotech, Inc. | October 15, 2025 | Approve Draft and Summary of Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| Cathay Biotech, Inc. | October 15, 2025 | Approve Methods to Assess the Performance of Plan Participants | Compensation | Board | AGAINST | 5 | |
| Cathay Biotech, Inc. | June 25, 2026 | Approve Remuneration Plan of Directors | Compensation | Board | AGAINST | 5 | |
| Cellcom Israel Ltd. | December 31, 2025 | Reappoint Kost Forer Gabbay & Kasierer (EY) as Auditors | Audit-related | Board | AGAINST | 5 |
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Built November 7, 2026 from SEC Form N-PX filings.