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 |
|---|---|---|---|---|---|---|---|
| Hunan New Wellful Co., Ltd. | June 25, 2026 | Approve Formulating the Performance Appraisal Method for Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| Hunan New Wellful Co., Ltd. | June 25, 2026 | Approve Formulation of Remuneration Management System for Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| Hunan Yuneng New Energy Battery Material Co., Ltd. | May 19, 2026 | Approve Application of Credit Lines | Capital Structure | Board | AGAINST | 5 | |
| Hwatsing Technology Co., Ltd. | May 13, 2026 | Approve 2025 and 2026 Remuneration of Directors | Compensation | Board | AGAINST | 5 | |
| Hygon Information Technology Co., Ltd. | April 28, 2026 | Approve Remuneration of Directors | Compensation | Board | AGAINST | 5 | |
| Hymson Laser Technology Group Co., Ltd. | May 26, 2026 | Approve Credit Line and Provision of Guarantees | Capital Structure | Board | AGAINST | 5 | |
| Hyosung Heavy Industries Corp. | March 19, 2026 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 5 | |
| Hyosung Heavy Industries Corp. | March 19, 2026 | Elect Woo Tae-hui as Inside Director | Director Elections | Board | AGAINST | 5 | |
| Hyundai WIA Corp. | March 26, 2026 | Elect Kim Chang-yong as Inside Director | Director Elections | Board | AGAINST | 5 | |
| I'LL Inc. | October 24, 2025 | Elect Director Iwamoto, Tetsuo | Director Elections | Board | AGAINST | 5 | |
| I.D.I. Insurance Co. Ltd. | January 8, 2026 | Approve Amended Compensation Policy for the Directors and Officers of the Company | Compensation | Board | AGAINST | 5 | |
| I.D.I. Insurance Co. Ltd. | May 4, 2026 | Reappoint Kost Forer Gabbay & Kasierer as Auditors | Audit-related | Board | AGAINST | 5 | |
| ICU MEDICAL, INC. | May 13, 2026 | To ratify the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the Company for the year ending December 31, 2026. | Audit-related | Board | AGAINST | 5 | |
| IDBI Bank Limited | July 22, 2025 | Reelect Manoj Sahay as Director | Director Elections | Board | AGAINST | 5 | |
| IDBI Bank Limited | July 22, 2025 | Reelect Sushil Kumar Singh as Director | Director Elections | Board | AGAINST | 5 | |
| IF Bancorp, Inc. | February 3, 2026 | A proposal to approve a non-binding advisory proposal regarding the compensation to be paid to the named executive officers of the Company in connection with the transactions contemplated by the Merger Agreement (the "Merger-Related Compensation"). | Say-on-Pay | Board (inferred) | AGAINST | 5 | |
| IFCI Limited | October 29, 2025 | Elect Rajeev Sachdev as Director | Director Elections | Board | AGAINST | 5 | |
| IFCI Limited | October 29, 2025 | Elect Shailesh Kumar as Director | Director Elections | Board | AGAINST | 5 | |
| IFCI Limited | October 29, 2025 | Reelect Arvind Kumar Jain as Director | Director Elections | Board | AGAINST | 5 | |
| IGM Financial Inc. | May 8, 2026 | Elect Director Andre Desmarais | Director Elections | Board | AGAINST | 5 | |
| IGM Financial Inc. | May 8, 2026 | Elect Director Beth Wilson | Director Elections | Board | AGAINST | 5 | |
| IGM Financial Inc. | May 8, 2026 | Elect Director Gary Doer | Director Elections | Board | AGAINST | 5 | |
| IGM Financial Inc. | May 8, 2026 | Elect Director Paul Desmarais, Jr. | Director Elections | Board | AGAINST | 5 | |
| IGM Financial Inc. | May 8, 2026 | Elect Director R. Jeffrey Orr | Director Elections | Board | AGAINST | 5 | |
| IGM Financial Inc. | May 8, 2026 | Elect Director Susan J. McArthur | Director Elections | Board | AGAINST | 5 | |
| IIFL Capital Services Limited | September 16, 2025 | Approve Sale of Company Assets | Extraordinary Transactions | Board | AGAINST | 5 | |
| IIFL Finance Limited | July 18, 2025 | Approve Reappointment and Remuneration of R Venkataraman as Joint Managing Director | Compensation | Board | AGAINST | 5 | |
| IKD Co., Ltd. | September 15, 2025 | Elect Zhang Xunjie as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| IKD Co., Ltd. | May 20, 2026 | Approve Remuneration Plan of Directors | Compensation | Board | AGAINST | 5 | |
| ILJIN ELECTRIC Co., Ltd. | March 19, 2026 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 5 | |
| IMPINJ, INC. | May 28, 2026 | To approve the 2026 Equity Incentive Plan. | Compensation | Board | AGAINST | 5 | |
| INNOVEX INTERNATIONAL, INC. | May 7, 2026 | Election of Director to serve for a three-year term: John Lovoi | Director Elections | Board | AGAINST | 5 | |
| INSIGHT ENTERPRISES, INC. | May 13, 2026 | Advisory vote (non-binding) to approve named executive officer compensation. | Compensation | Board | AGAINST | 5 | |
| INVISIO AB | May 6, 2026 | Elect Cecilia Daun Wennborg as New Director | Director Elections | Board | AGAINST | 5 | |
| INmune Bio Inc. | November 18, 2025 | To approve the repricing of certain outstanding stock options that have been granted under the Company's 2017 Stock Incentive Plan, 2019 Stock Incentive Plan, and Second Amended and Restated 2021 Stock Incentive Plan (as may be amended, restated or otherwise modified from time to time in accordance with its terms) (the "Option Repricing Proposal"). | Compensation | Board | AGAINST | 5 | |
| INmune Bio Inc. | June 16, 2026 | To approve the Third Amended and Restated INmune Bio Inc. 2021 Stock Incentive Plan. | Compensation | Board | AGAINST | 5 | |
| IPCA Laboratories Limited | August 11, 2025 | Reelect Prashant Godha as Director | Director Elections | Board | AGAINST | 5 | |
| IPG PHOTONICS CORPORATION | May 12, 2026 | Election of Director: Agnes Tang | Director Elections | Board | AGAINST | 5 | |
| IPG PHOTONICS CORPORATION | May 12, 2026 | Election of Director: Eugene Scherbakov, Ph.D. | Director Elections | Board | AGAINST | 5 | |
| IPG PHOTONICS CORPORATION | May 12, 2026 | Election of Director: Gregory Dougherty | Director Elections | Board | AGAINST | 5 | |
| IPG PHOTONICS CORPORATION | May 12, 2026 | Election of Director: Mark Gitin, Ph.D. | Director Elections | Board | AGAINST | 5 | |
| IRB Infrastructure Developers Limited | September 18, 2025 | Reelect Deepali V. Mhaiskar as Director | Director Elections | Board | AGAINST | 5 | |
| IRCON International Limited | September 18, 2025 | Elect Ajit Kumar Mishra as Director | Director Elections | Board | AGAINST | 5 | |
| IRCON International Limited | September 18, 2025 | Elect Anand Bhatia as Director | Director Elections | Board | AGAINST | 5 | |
| IRCON International Limited | September 18, 2025 | Elect Anupum Singh as Director | Director Elections | Board | AGAINST | 5 | |
| IRCON International Limited | September 18, 2025 | Reelect Anand Kumar Singh as Director | Director Elections | Board | AGAINST | 5 | |
| ITE Tech, Inc. | May 28, 2026 | Elect a Representative of United Microelectronics Corporation with SHAREHOLDER NO.10 as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Icelandair Group hf | March 12, 2026 | Elect Two Members of Nominating Committee | Director Elections | Board | AGAINST | 5 | |
| Ideal Holdings SA | June 4, 2026 | Advisory Vote on Remuneration Report | Compensation | Board | AGAINST | 5 | |
| Ideal Holdings SA | June 4, 2026 | Amend Authorization for Share Capital Increase | Capital Structure | Board | AGAINST | 5 | |
| Iflytek Co., Ltd. | May 20, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Imas Makina Sanayi AS | July 29, 2025 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| Imas Makina Sanayi AS | July 29, 2025 | Elect Directors | Director Elections | Board | AGAINST | 5 | |
| Imas Makina Sanayi AS | July 29, 2025 | Ratify Director Appointments | Director Elections | Board | AGAINST | 5 | |
| Imas Makina Sanayi AS | June 5, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| IndiaMART InterMESH Limited | August 29, 2025 | Approve Payment of Remuneration to Amit Agarwal as Vice President for Product & Technology, being a Related Party, for Holding an Office or Place of Profit in the Company | Compensation | Board | AGAINST | 5 | |
| Indian Railway Finance Corp. Ltd. | August 30, 2025 | Elect Randhir Sahay as Director (Finance) (Addl. Charge) | Director Elections | Board | AGAINST | 5 | |
| Indian Railway Finance Corp. Ltd. | August 30, 2025 | Reelect Abhishek Kumar as Director | Director Elections | Board | AGAINST | 5 | |
| Indra Sistemas SA | November 27, 2025 | Reelect Juan Moscoso del Prado Hernandez as Director | Director Elections | Board | AGAINST | 5 | |
| Inner Mongolia Dian Tou Energy Corp. Ltd. | May 7, 2026 | Approve Provision of Entrusted Loan Through State Power Investment Corporation Finance Co., Ltd. | Capital Structure | Board | AGAINST | 5 | |
| Inner Mongolia ERDOS Resources Co., Ltd. | December 22, 2025 | Approve Asset Pool and Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| InnoScience (Suzhou) Technology Holding Co., Ltd. | May 22, 2026 | Approve Provision of Guarantees | Capital Structure | Board | AGAINST | 5 | |
| Innovation New Material Technology Co., Ltd. | December 17, 2025 | Approve Credit Line Application and Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Inox Wind Limited | September 26, 2025 | Reelect Mukesh Manglik as Director | Director Elections | Board | AGAINST | 5 | |
| Inox Wind Limited | June 22, 2026 | Approve Continuation of Directorship of Mukesh Manglik as Non-Executive Director | Director Elections | Board | AGAINST | 5 | |
| Inox Wind Limited | June 22, 2026 | Approve Divestment of Equity Shares of Inox Green Energy Services Limited, Material Subsidiary | Extraordinary Transactions | Board | AGAINST | 5 | |
| Insigma Technology Co. Ltd. | May 19, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Intco Medical Technology Co., Ltd. | May 18, 2026 | Approve Credit Line Application and Guarantee Provision | Capital Structure | Board | AGAINST | 5 | |
| Intellect Design Arena Limited | July 25, 2025 | Approve Commission Payable to Non-Executive Directors | Compensation | Board | AGAINST | 5 | |
| Intellect Design Arena Limited | July 25, 2025 | Reelect Anil Kumar Verma as Director | Director Elections | Board | AGAINST | 5 | |
| Intellect Design Arena Limited | March 12, 2026 | Approve Reappointment and Remuneration of Anil Kumar Verma as Whole-Time Director | Compensation | Board | AGAINST | 5 | |
| Inversiones La Construccion SA | April 21, 2026 | Elect Directors | Director Elections | Board | AGAINST | 5 | |
| InvestCo Holding AS | November 26, 2025 | Approve Share Repurchase Program | Capital Structure | Board | AGAINST | 5 | |
| InvestCo Holding AS | November 26, 2025 | Elect Directors and Approve Their Remuneration | Director Elections | Board | AGAINST | 5 | |
| InvestCo Holding AS | November 26, 2025 | Ratify Director Appointment | Director Elections | Board | AGAINST | 5 | |
| InvestCo Holding AS | November 26, 2025 | Ratify External Auditors | Audit-related | Board | AGAINST | 5 | |
| Ion Exchange (India) Limited | May 24, 2026 | Approve Grant of Employee Stock Options to the Employees of Subsidiary Company(ies) of the Company under Ion Exchange (India) Limited - Employee Stock Option Scheme 2026 | Compensation | Board | AGAINST | 5 | |
| Ion Exchange (India) Limited | May 24, 2026 | Approve Ion Exchange (India) Limited - Employee Stock Option Scheme 2026 | Compensation | Board | AGAINST | 5 | |
| Ion Exchange (India) Limited | May 24, 2026 | Approve Provision of Money by the Company for Purchase of its Own Shares by the Trust under the Ion Exchange (India) Limited - Employee Stock Option Scheme 2026 | Compensation | Board | AGAINST | 5 | |
| Ion Exchange (India) Limited | May 24, 2026 | Approve Secondary Acquisition of Shares through Trust Route for the Implementation of Ion Exchange (India) Limited - Employee Stock Option Scheme 2026 | Compensation | Board | AGAINST | 5 | |
| Is Finansal Kiralama AS | March 26, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| Is Finansal Kiralama AS | March 26, 2026 | Approve Share Capital Increase with Preemptive Rights | Capital Structure | Board | AGAINST | 5 | |
| Is Finansal Kiralama AS | March 26, 2026 | Elect Directors | Director Elections | Board | AGAINST | 5 | |
| Isiklar Enerji ve Yapi Holding AS | March 12, 2026 | Approve Director Remuneration | Compensation | Board | AGAINST | 5 | |
| Ithaca Energy Plc | May 13, 2026 | Re-elect Guido Brusco as Director | Director Elections | Board | AGAINST | 5 | |
| Ithaca Energy Plc | May 13, 2026 | Re-elect Itshak Tshuva as Director | Director Elections | Board | AGAINST | 5 | |
| Itochu Enex Co., Ltd. | June 17, 2026 | Elect Director Tabata, Nobuyuki | Director Elections | Board | AGAINST | 5 | |
| Iveco Group NV | June 17, 2026 | Grant Board Authority to Issue Special Voting Shares | Capital Structure | Board | AGAINST | 5 | |
| Iwatani Corp. | June 17, 2026 | Elect Director Majima, Hiroshi | Director Elections | Board | AGAINST | 5 | |
| J.B. Chemicals & Pharmaceuticals Ltd. | August 6, 2025 | Reelect Gaurav Trehan as Director | Director Elections | Board | AGAINST | 5 | |
| JA Solar Technology Co., Ltd. | June 26, 2026 | Approve Downward Adjustment on Conversion Price of Convertible Bonds | Capital Structure | Board | AGAINST | 5 | |
| JBG SMITH PROPERTIES | April 30, 2026 | Election of Director to serve until the 2027 Annual Meeting of Shareholders and until their successors have been duly elected and qualify: Phyllis R. Caldwell | Director Elections | Board | AGAINST | 5 | |
| JBM Auto Limited | September 3, 2025 | Approve Reappointment and Remuneration of Dhiraj Mohan as Whole-Time Director | Compensation | Board | AGAINST | 5 | |
| JBM Auto Limited | September 3, 2025 | Reelect Dhiraj Mohan as Director | Director Elections | Board | AGAINST | 5 | |
| JCET Group Co., Ltd. | June 5, 2026 | Approve to Formulate Remuneration Management System for Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| JHSF Participacoes SA | February 27, 2026 | Approve Stock Option Plan | Compensation | Board | AGAINST | 5 | |
| JHSF Participacoes SA | April 30, 2026 | In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst the Nominees below? | Director Elections | Board | ABSTAIN | 5 | |
| JHSF Participacoes SA | April 30, 2026 | Percentage of Votes to Be Assigned - Elect Adilson Augusto Martins Junior as Director | Director Elections | Board | ABSTAIN | 5 | |
| JHSF Participacoes SA | April 30, 2026 | Percentage of Votes to Be Assigned - Elect Alberto Fernandes as Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| JHSF Participacoes SA | April 30, 2026 | Percentage of Votes to Be Assigned - Elect Jose Auriemo Neto as Director | Director Elections | Board | ABSTAIN | 5 |
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Built November 8, 2026 from SEC Form N-PX filings.