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 |
|---|---|---|---|---|---|---|---|
| Hangzhou Lion Electronics Co., Ltd. | January 26, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Hangzhou Oxygen Plant Group Co., Ltd. | May 19, 2026 | Approve Application of Credit Lines | Capital Structure | Board | AGAINST | 5 | |
| Hangzhou Silan Microelectronics Co., Ltd. | May 26, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Hangzhou Sunrise Technology Co., Ltd. | May 18, 2026 | Approve to Appoint Auditor | Audit-related | Board | AGAINST | 5 | |
| Hankook Shell Oil Co., Ltd. | March 27, 2026 | Elect Gu Haiyu as Non-Independent Non-Executive Director | Director Elections | Board | AGAINST | 5 | |
| HannStar Board Corp. | June 18, 2026 | Elect a Representative of Chin Xin Investment Co. Ltd., with Shareholder No. 8438, as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Haohua Chemical Science & Technology Corp. Ltd. | May 22, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Happiest Minds Technologies Ltd. | July 29, 2025 | Approve Increase in Borrowing Limits | Capital Structure | Board | AGAINST | 5 | |
| Happiest Minds Technologies Ltd. | July 29, 2025 | Approve Pledging of Assets for Debt | Capital Structure | Board | AGAINST | 5 | |
| Happiest Minds Technologies Ltd. | September 4, 2025 | Approve Reappointment and Remuneration of Venkatraman Narayanan as Whole-time Director designated as Managing Director | Compensation | Board | AGAINST | 5 | |
| Hefei Chipmore Technology Co., Ltd. | September 16, 2025 | Approve Application of Bank Credit Lines | Capital Structure | Board | AGAINST | 5 | |
| Hefei Chipmore Technology Co., Ltd. | September 16, 2025 | Approve Rules and Procedures Regarding General Meetings of Convertible Bondholders | Capital Structure | Board | AGAINST | 5 | |
| Hefei Chipmore Technology Co., Ltd. | May 13, 2026 | Approve 2026 Remuneration of Non-independent Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| Heiwa Corp. | June 26, 2026 | Elect Director Minei, Katsuya | Director Elections | Board | AGAINST | 5 | |
| Henan Liliang Diamond Co., Ltd. | August 15, 2025 | Amend Management System for Shareholding Held by Directors, Supervisors and Senior Management Members and Its Change | Compensation | Board | AGAINST | 5 | |
| Hengdian Group DMEGC Magnetics Co., Ltd. | December 11, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Hengli Petrochemical Co., Ltd. | May 8, 2026 | Approve Guarantee Plan | Capital Structure | Board | AGAINST | 5 | |
| Hengtong Optic-Electric Co., Ltd. | December 30, 2025 | Approve Bill Pool Business | Capital Structure | Board | AGAINST | 5 | |
| Hengtong Optic-Electric Co., Ltd. | December 30, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Hengyi Petrochemical Co., Ltd. | February 25, 2026 | Approve Determination of Guarantee Amounts for Controlled Subsidiaries and Mutual Guarantees Among Controlled Subsidiaries | Capital Structure | Board | AGAINST | 5 | |
| Hengyi Petrochemical Co., Ltd. | February 25, 2026 | Approve Provision of Guarantee and Related Party Transaction | Capital Structure | Board | AGAINST | 5 | |
| Hexing Electrical Co., Ltd. | May 29, 2026 | Approve Credit Line and Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Hiab Oyj | March 24, 2026 | Approve Remuneration Policy And Other Terms of Employment For Executive Management | Compensation | Board | AGAINST | 5 | |
| Hiab Oyj | March 24, 2026 | Approve Remuneration Report (Advisory Vote) | Compensation | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | December 26, 2025 | Approve Credit Line Application and Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Amount and Usage of Raised Funds | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Arrangement of Retained Earnings Prior to this Issuance | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Authorization of Board to Handle All Related Matters | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Company's Eligibility for Private Placement of Shares | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Conditional Shares Subscription Agreement in Connection to the Private Placement | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Demonstration Analysis Report in Connection to Issuance of Shares to Specific Targets | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Establishment of Special Account for Raised Funds and Authorization to Sign a Raised Fund Supervision Agreement | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Feasibility Analysis Report on the Use of Proceeds | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Impact of Dilution of Current Returns on Major Financial Indicators and the Relevant Measures to be Taken | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Issue Manner and Period | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Issue Scale | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Issue Type and Par Value | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Listing Location | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve No Need for Report on the Usage of Previously Raised Funds | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Plan on Private Placement of Shares | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Pricing Benchmark Date, Issue Price and Pricing Principles | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Resolution Validity Period | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Restriction Period | Capital Structure | Board | AGAINST | 5 | |
| Hiconics Eco-energy Technology Co., Ltd. | April 20, 2026 | Approve Target Parties and Subscription Manner | Capital Structure | Board | AGAINST | 5 | |
| Hilan Ltd. | November 5, 2025 | Reappoint Kost, Forer, Gabbay and Kasierer as Auditors and Authorize Board to Fix Their Remuneration | Audit-related | Board | AGAINST | 5 | |
| Hilan Ltd. | November 5, 2025 | Reelect Miron Oren as Director | Director Elections | Board | AGAINST | 5 | |
| Hindustan Aeronautics Ltd. | August 28, 2025 | Authorize Board to Fix Remuneration of Auditors | Audit-related | Board | AGAINST | 5 | |
| Hindustan Aeronautics Ltd. | August 28, 2025 | Elect Ajay Kumar Shrivastava as Director (Engineering and R&D) | Director Elections | Board | AGAINST | 5 | |
| Hindustan Aeronautics Ltd. | August 28, 2025 | Elect Barenya Senapati as Director (Finance) | Director Elections | Board | AGAINST | 5 | |
| Hindustan Aeronautics Ltd. | August 28, 2025 | Elect M G Balasubrahmanya as Director (Human Resources) | Director Elections | Board | AGAINST | 5 | |
| Hindustan Aeronautics Ltd. | August 28, 2025 | Elect Manisha Chandra as Part-time Official Director (Government Nominee Director) | Director Elections | Board | AGAINST | 5 | |
| Hindustan Aeronautics Ltd. | August 28, 2025 | Elect Rajalakshmi Menon as Director | Director Elections | Board | AGAINST | 5 | |
| Hindustan Aeronautics Ltd. | August 28, 2025 | Elect Ravi K as Director (Operations) | Director Elections | Board | AGAINST | 5 | |
| Hindustan Copper Ltd. | September 25, 2025 | Elect Ashish Saxena as Director | Director Elections | Board | AGAINST | 5 | |
| Hindustan Copper Ltd. | September 25, 2025 | Elect RVN Vishweshwar as Director (Finance) | Director Elections | Board | AGAINST | 5 | |
| Hindustan Copper Ltd. | September 25, 2025 | Elect Sanjeev Kumar Sinha as Director (Operations) | Director Elections | Board | AGAINST | 5 | |
| Hochtief AG | April 29, 2026 | Approve Remuneration Report | Compensation | Board | AGAINST | 5 | |
| Hochtief AG | April 29, 2026 | Reelect Angel Altozano to the Supervisory Board | Director Elections | Board | AGAINST | 5 | |
| Hochtief AG | April 29, 2026 | Reelect Cristina Gonzalez de Durana to the Supervisory Board | Director Elections | Board | AGAINST | 5 | |
| Hochtief AG | April 29, 2026 | Reelect Jose Perez to the Supervisory Board | Director Elections | Board | AGAINST | 5 | |
| Hochtief AG | April 29, 2026 | Reelect Pedro Jimenez to the Supervisory Board | Director Elections | Board | AGAINST | 5 | |
| Hokkaido Gas Co., Ltd. | June 24, 2026 | Appoint Statutory Auditor Nakata, Masayuki | Compensation | Board | AGAINST | 5 | |
| Hokuriku Electric Power Co. | June 25, 2026 | Appoint Statutory Auditor Kochi, Tomiko | Compensation | Board | AGAINST | 5 | |
| Hokuriku Electric Power Co. | June 25, 2026 | Elect Director Kanai, Yutaka | Director Elections | Board | AGAINST | 5 | |
| Hokuto Corp. | June 26, 2026 | Approve Director Retirement Bonus | Compensation | Board | AGAINST | 5 | |
| Holmen AB | March 30, 2026 | Reelect Alice Kempe, Louise Lindh, Ulf Lundahl, Fredrik Lundberg (Chair), Fredrik Persson, Henrik Sjolund, Stefan Widing, Henriette Zeuchner and Carina Akerstrom as Directors | Director Elections | Board | AGAINST | 5 | |
| Home First Finance Company India Ltd. | June 24, 2026 | Reelect Anuj Srivastava as Director | Director Elections | Board | AGAINST | 5 | |
| Hongta Securities Co., Ltd. | December 5, 2025 | Elect Liao Ke as Director | Director Elections | Board | AGAINST | 5 | |
| Hongta Securities Co., Ltd. | December 5, 2025 | Elect Wang Yilin as Director | Director Elections | Board | AGAINST | 5 | |
| Hoshine Silicon Industry Co., Ltd. | November 17, 2025 | Approve to Formulate the Remuneration Management System for Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| Hoshine Silicon Industry Co., Ltd. | May 8, 2026 | Approve 2025 and 2026 Remuneration of Directors | Compensation | Board | AGAINST | 5 | |
| Hoshine Silicon Industry Co., Ltd. | May 8, 2026 | Approve Provision of Guarantees | Capital Structure | Board | AGAINST | 5 | |
| Hota Industrial Manufacturing Co., Ltd. | May 29, 2026 | Elect Chang, Yu-Jeng, a Representative of ZhongBu Investment Co.,Ltd., as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Hota Industrial Manufacturing Co., Ltd. | May 29, 2026 | Elect Huang, Feng-Yih as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Hota Industrial Manufacturing Co., Ltd. | May 29, 2026 | Elect Lin, Mei-Yu as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Hota Industrial Manufacturing Co., Ltd. | May 29, 2026 | Elect Lin, Yen-Huey as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Hota Industrial Manufacturing Co., Ltd. | May 29, 2026 | Elect Lin, Yue-Hong, a Representative of ZhongBu Investment Co.,Ltd., as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Hota Industrial Manufacturing Co., Ltd. | May 29, 2026 | Elect Sun, Yong-Lu, a Representative of HaoQing Investment Co.,Ltd., as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Housing & Urban Development Corporation Limited | September 15, 2025 | Authorize Board to Fix Remuneration of Auditors | Audit-related | Board | AGAINST | 5 | |
| Housing & Urban Development Corporation Limited | September 15, 2025 | Elect Ravindra Kumar Ray as Director | Director Elections | Board | AGAINST | 5 | |
| Housing & Urban Development Corporation Limited | September 15, 2025 | Reelect M. Nagaraj as Director | Director Elections | Board | AGAINST | 5 | |
| Hoymiles Power Electronics, Inc. | May 20, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Hsino Tower Group Co., Ltd. | December 11, 2025 | Approve to Formulate the Director Remuneration Management System | Compensation | Board | AGAINST | 5 | |
| Hua Hong Semiconductor Limited | May 14, 2026 | Elect Kwai Huen Wong as Director | Director Elections | Board | AGAINST | 5 | |
| Hua Hong Semiconductor Limited | May 14, 2026 | Elect Songlin Feng as Director | Director Elections | Board | AGAINST | 5 | |
| Huafon Microfibre (Shanghai) Co., Ltd. | April 29, 2026 | Approve Bill Pool Business | Capital Structure | Board | AGAINST | 5 | |
| Huaibei Mining Holdings Co., Ltd. | April 28, 2026 | Amend the Remuneration Management System for Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| Huaming Power Equipment Co., Ltd. | March 20, 2026 | Approve Asset Pool Business | Capital Structure | Board | AGAINST | 5 | |
| Huaneng Power International, Inc. | June 16, 2026 | Approve Provision of Renewable Entrusted Loans to its Controlled Subsidiaries | Capital Structure | Board | AGAINST | 5 | |
| Huapont Life Sciences Co., Ltd. | January 12, 2026 | Approve Credit Line Application and Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Huaqin Co., Ltd. | May 20, 2026 | Approve Estimated Caps for Provision of External Guarantees | Capital Structure | Board | AGAINST | 5 | |
| Hubei Chutian Smart Communication Co., Ltd. | March 23, 2026 | Elect Ding Jianwan as Director | Director Elections | Board | AGAINST | 5 | |
| Hubei Chutian Smart Communication Co., Ltd. | March 23, 2026 | Elect Hu Huaxia as Director | Director Elections | Board | AGAINST | 5 | |
| Hubei Chutian Smart Communication Co., Ltd. | March 23, 2026 | Elect Yu Mingyuan as Director | Director Elections | Board | AGAINST | 5 | |
| Hubei Dinglong Co., Ltd. | April 24, 2026 | Approve Credit Line Application and Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Hubei Jumpcan Pharmaceutical Co., Ltd. | May 15, 2026 | Approve Authorization of the Board to Handle All Related Matters | Compensation | Board | AGAINST | 5 | |
| Hubei Jumpcan Pharmaceutical Co., Ltd. | May 15, 2026 | Approve Draft and Summary on Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| Hubei Jumpcan Pharmaceutical Co., Ltd. | May 15, 2026 | Approve Management Method of Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| Hubei Xingfa Chemicals Group Co., Ltd. | April 23, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Hubei Yihua Chemical Industry Co., Ltd. | September 8, 2025 | Approve External Guarantees | Capital Structure | Board | AGAINST | 5 |
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Built November 8, 2026 from SEC Form N-PX filings.