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 |
|---|---|---|---|---|---|---|---|
| JHSF Participacoes SA | April 30, 2026 | Percentage of Votes to Be Assigned - Elect Osvaldo Roberto Nieto as Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| JHSF Participacoes SA | April 30, 2026 | Percentage of Votes to Be Assigned - Elect Pablo Roman Di Si as Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| JHSF Participacoes SA | April 30, 2026 | Percentage of Votes to Be Assigned - Elect Richard Rainer as Independent Director | Director Elections | Board | ABSTAIN | 5 | |
| JHSF Participacoes SA | April 30, 2026 | Percentage of Votes to Be Assigned - Elect Thiago Alonso de Oliveira as Director | Director Elections | Board | ABSTAIN | 5 | |
| JK Lakshmi Cement Limited | September 26, 2025 | Approve Appointment and Remuneration of Shrivats Singhania as Deputy Managing Director | Compensation | Board | AGAINST | 5 | |
| JK Lakshmi Cement Limited | September 26, 2025 | Reelect Arun Kumar Shukla as Director | Director Elections | Board | AGAINST | 5 | |
| JK Tyre & Industries Ltd. | August 7, 2025 | Approve Payment of Remuneration to Bharat Hari Singhania as Non-Executive Director | Compensation | Board | AGAINST | 5 | |
| JK Tyre & Industries Ltd. | August 7, 2025 | Approve Reappointment and Remuneration of Anshuman Singhania as Managing Director | Compensation | Board | AGAINST | 5 | |
| JK Tyre & Industries Ltd. | August 7, 2025 | Reelect Arun Kumar Bajoria as Director | Director Elections | Board | AGAINST | 5 | |
| JL MAG Rare-Earth Co., Ltd. | April 28, 2026 | Approve Application to Banks for Integrated Credit Facilities and the Related Guarantee | Capital Structure | Board | AGAINST | 5 | |
| JL MAG Rare-Earth Co., Ltd. | April 28, 2026 | Approve Grant of General Mandate to Apply for Issuance of Domestic and Overseas Debt Financing Instruments | Capital Structure | Board | AGAINST | 5 | |
| JSTI Group | May 22, 2026 | Approve Comprehensive Credit Line Application and External Guarantees | Capital Structure | Board | AGAINST | 5 | |
| JSW Infrastructure Ltd. | February 27, 2026 | Approve Grant of Employee Stock Options to Eligible Employees of the Present and Future Unlisted Subsidiary Company(ies) Under the Shri O.P. Jindal Employee Stock Ownership Plan (JSWIL) - 2026 | Compensation | Board | AGAINST | 5 | |
| JSW Infrastructure Ltd. | February 27, 2026 | Approve Shri O.P. Jindal Employee Stock Ownership Plan (JSWIL) - 2026 | Compensation | Board | AGAINST | 5 | |
| Jammu & Kashmir Bank Limited | August 26, 2025 | Reelect Mandeep K Bhandari as Director | Director Elections | Board | AGAINST | 5 | |
| Jammu & Kashmir Bank Limited | August 26, 2025 | Reelect Pawan Kotwal as Director | Director Elections | Board | AGAINST | 5 | |
| Japan Engine Corp. | June 25, 2026 | Appoint Statutory Auditor Omomo, Takashi | Compensation | Board | AGAINST | 5 | |
| Japan Petroleum Exploration Co., Ltd. | June 23, 2026 | Appoint Statutory Auditor Yoshida, Kosei | Compensation | Board | AGAINST | 5 | |
| Jasmine Technology Solution Public Company Limited | April 28, 2026 | Elect Adchara Masaard as Director | Director Elections | Board | AGAINST | 5 | |
| Jiang Su Etern Co., Ltd. | September 19, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Jiang Su Etern Co., Ltd. | November 14, 2025 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Jiang Su Etern Co., Ltd. | May 15, 2026 | Approve Application of Credit Lines | Capital Structure | Board | AGAINST | 5 | |
| Jiang Su Etern Co., Ltd. | May 15, 2026 | Approve Provision of Guarantee for Controlling Shareholder | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Asia-Pacific Light Alloy Technology Co., Ltd. | May 13, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Azure Corp. | May 6, 2026 | Approve Bill Pool Business | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Azure Corp. | May 6, 2026 | Approve External Guarantees | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Cnano Technology Co., Ltd. | June 29, 2026 | Approve Authorization of the Board to Handle All Matters Related to Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| Jiangsu Cnano Technology Co., Ltd. | June 29, 2026 | Approve Draft and Summary on Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| Jiangsu Cnano Technology Co., Ltd. | June 29, 2026 | Approve Management Measures for Employee Share Purchase Plan | Compensation | Board | AGAINST | 5 | |
| Jiangsu Dingsheng New Material Joint-Stock Co., Ltd. | May 20, 2026 | Approve Financing Business Authorization | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Haili Wind Power Equipment Technology Co., Ltd. | May 20, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Hengrui Pharmaceuticals Co., Ltd. | April 16, 2026 | Approve Ernst & Young Hua Ming LLP as Domestic Auditor and Ernst & Young as International Auditor and Authorize Board to Fix Their Remuneration | Audit-related | Board | AGAINST | 5 | |
| Jiangsu Hengrui Pharmaceuticals Co., Ltd. | April 16, 2026 | Elect Sun Jinyun as Director | Director Elections | Board | AGAINST | 5 | |
| Jiangsu Hengrui Pharmaceuticals Co., Ltd. | April 16, 2026 | Elect Zeng Qingsheng as Director | Director Elections | Board | AGAINST | 5 | |
| Jiangsu Jiejie Microelectronics Co., Ltd. | May 7, 2026 | Approve Credit Line Application and Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Lopal Tech. Group Co., Ltd. | December 31, 2025 | Approve Proposed Provision of Financial Assistance to a Controlled Subsidiary | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Lopal Tech. Group Co., Ltd. | February 13, 2026 | Approve Comprehensive Credit Facilities and Guarantee Limit Estimate | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Lopal Tech. Group Co., Ltd. | June 26, 2026 | Approve Increasing the Estimated Guarantee Quota | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Nata Opto-electronic Material Co., Ltd. | May 7, 2026 | Approve Application of Credit Lines and Provision of Guarantees | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Rainbow Heavy Industries Co., Ltd. | May 22, 2026 | Approve Application of Credit Lines | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Suzhou Rural Commercial Bank Co., Ltd. | November 20, 2025 | Approve Issuance of Innovation and Technology Bonds | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Suzhou Rural Commercial Bank Co., Ltd. | January 15, 2026 | Approve Merger by Absorption and Establish Branches | Extraordinary Transactions | Board | AGAINST | 5 | |
| Jiangsu Suzhou Rural Commercial Bank Co., Ltd. | May 28, 2026 | Approve 2026 Remuneration of Directors | Compensation | Board | AGAINST | 5 | |
| Jiangsu Suzhou Rural Commercial Bank Co., Ltd. | May 28, 2026 | Approve Shareholder Return Plan | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Suzhou Rural Commercial Bank Co., Ltd. | May 28, 2026 | Approve to Formulate Remuneration Management System for Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| Jiangsu Xukuang Energy Co. Ltd. | May 19, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Jiangsu Xukuang Energy Co. Ltd. | May 19, 2026 | Approve Remuneration Plan of Directors | Compensation | Board | AGAINST | 5 | |
| Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd. | January 21, 2026 | Approve Merger by Absorption of Jiangsu Donghai Zhangnong Rural Commercial Bank Co., Ltd. and Reconstructing into a Branch Office | Extraordinary Transactions | Board | AGAINST | 5 | |
| Jiangsu Zhongtian Technology Co., Ltd. | May 21, 2026 | Approve 2025 and 2026 Remuneration of Directors | Compensation | Board | AGAINST | 5 | |
| Jiangxi Hongcheng Environment Co., Ltd. | May 7, 2026 | Approve Application of Credit Line and Provision of Guarantees | Capital Structure | Board | AGAINST | 5 | |
| Jiayou International Logistics Co., Ltd. | September 15, 2025 | Amend Articles of Association | Capital Structure | Board | AGAINST | 5 | |
| Jiaze Renewables Corp. Ltd. | April 17, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Jilin Electric Power Co., Ltd. | November 12, 2025 | Approve REITs Subsequent Equity Financing Business with New Energy Power Generation Assets | Capital Structure | Board | AGAINST | 5 | |
| JinJian Cereals Industry Co., Ltd. | June 23, 2026 | Amend Performance Appraisal Measures for Company Directors and Senior Management | Compensation | Board | AGAINST | 5 | |
| JinJian Cereals Industry Co., Ltd. | June 23, 2026 | Amend Remuneration Management System for Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| JinJian Cereals Industry Co., Ltd. | June 23, 2026 | Approve Bank Credit and Loan Scale | Capital Structure | Board | AGAINST | 5 | |
| JinJian Cereals Industry Co., Ltd. | June 23, 2026 | Approve Remuneration of Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| Jindal Steel & Power Limited | July 18, 2025 | Amend Jindal Steel & Power Employee Benefit Scheme - 2022 | Compensation | Board | AGAINST | 5 | |
| Jindal Steel Limited | June 18, 2026 | Approve Reappointment and Remuneration of Damodar Mittal as Wholetime Director | Compensation | Board | AGAINST | 5 | |
| Jinghua Pharmaceutical Group Co., Ltd. | May 14, 2026 | Approve Remuneration Assessment Plan of Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| Jinghua Pharmaceutical Group Co., Ltd. | May 14, 2026 | Approve to Formulate the Remuneration Management Measures for Directors and Senior Management Members | Compensation | Board | AGAINST | 5 | |
| Jinko Power Technology Co., Ltd. | September 23, 2025 | Approve Revise Downward Conversion Price of Convertible Bonds | Capital Structure | Board | AGAINST | 5 | |
| Jinko Power Technology Co., Ltd. | December 26, 2025 | Approve Guarantee Plan | Capital Structure | Board | AGAINST | 5 | |
| JinkoSolar Holding Co., Ltd. | December 29, 2025 | Elect Director Haiyun Cao | Director Elections | Board | AGAINST | 5 | |
| Jinneng Science & Technology Co., Ltd. | August 11, 2025 | Approve Downward Revision of Conversion Price of Convertible Bonds | Capital Structure | Board | AGAINST | 5 | |
| Johnson Health Tech Co. Ltd. | June 24, 2026 | Elect Cindy Ho with SHAREHOLDER NO.00000002 as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Johnson Health Tech Co. Ltd. | June 24, 2026 | Elect Crista Lin with SHAREHOLDER NO.00000008 as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Johnson Health Tech Co. Ltd. | June 24, 2026 | Elect May Lo with SHAREHOLDER NO.00000005 as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Johnson Health Tech Co. Ltd. | June 24, 2026 | Elect Spencer Hsieh with SHAREHOLDER NO.00000803 as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Johnson Health Tech Co. Ltd. | June 24, 2026 | Elect Teresa Lo with SHAREHOLDER NO.00000004 as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Johnson Health Tech Co. Ltd. | June 24, 2026 | Elect Vincent Chen with SHAREHOLDER NO.Y120074XXX as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Johnson Health Tech Co. Ltd. | June 24, 2026 | Elect Yih-Horng Lin with SHAREHOLDER NO.00013907 as Non-independent Director | Director Elections | Board | AGAINST | 5 | |
| Jolywood (Suzhou) Sunwatt Co., Ltd. | May 27, 2026 | Approve Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| JoulWatt Technology Co., Ltd. | November 19, 2025 | Approve Credit Line and Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| JoulWatt Technology Co., Ltd. | March 10, 2026 | Approve Participation in Fund Establishment | Extraordinary Transactions | Board | AGAINST | 5 | |
| JoulWatt Technology Co., Ltd. | May 15, 2026 | Approve Credit Line and Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Just Dial Limited | September 2, 2025 | Reelect Ashwin Khasgiwala as Director | Director Elections | Board | AGAINST | 5 | |
| K&O Energy Group, Inc. | March 26, 2026 | Appoint Statutory Auditor Kokaji, Hiromichi | Compensation | Board | AGAINST | 5 | |
| K&O Energy Group, Inc. | March 26, 2026 | Appoint Statutory Auditor Maru, Kazuhiko | Compensation | Board | AGAINST | 5 | |
| K&O Energy Group, Inc. | March 26, 2026 | Appoint Statutory Auditor Uchida, Haruki | Compensation | Board | AGAINST | 5 | |
| KAP Ltd. | November 26, 2025 | Approve Financial Assistance for Subscription of Securities | Capital Structure | Board | AGAINST | 5 | |
| KB HOME | April 23, 2026 | Advisory vote to approve named executive officer compensation | Compensation | Board | AGAINST | 5 | |
| KBR, INC. | May 14, 2026 | Advisory vote to approve KBR's named executive officer compensation. | Compensation | Board | AGAINST | 5 | |
| KBR, INC. | May 14, 2026 | Election of Director: Jack B. Moore | Director Elections | Board | AGAINST | 5 | |
| KEPCO Engineering & Construction Co., Inc. | March 31, 2026 | Approve Total Remuneration of Inside Directors and Outside Directors | Compensation | Board | AGAINST | 5 | |
| KEPCO Engineering & Construction Co., Inc. | March 31, 2026 | Authorize Board to Fix Remuneration of Internal Auditor(s) | Compensation | Board | AGAINST | 5 | |
| KGHM Polska Miedz SA | June 9, 2026 | Elect Supervisory Board Member | Director Elections | Board | AGAINST | 5 | |
| KILROY REALTY CORPORATION | May 19, 2026 | Election of Director: Cia Buckley Marakovits | Director Elections | Board | AGAINST | 5 | |
| KILROY REALTY CORPORATION | May 19, 2026 | Election of Director: Daryl J. Carter | Director Elections | Board | AGAINST | 5 | |
| KIMCO REALTY CORPORATION | May 21, 2026 | THE BOARD OF DIRECTORS RECOMMENDS: A VOTE FOR THE ADVISORY RESOLUTION TO APPROVE THE COMPANY'S EXECUTIVE COMPENSATION (AS MORE PARTICULARLY DESCRIBED IN THE PROXY STATEMENT). | Compensation | Board | AGAINST | 5 | |
| KINGSEMI Co., Ltd. | June 26, 2026 | Approve Remuneration and Remuneration Plan of Directors | Compensation | Board | AGAINST | 5 | |
| KKR REAL ESTATE FINANCE TRUST INC. | April 14, 2026 | Elect Christen E.J. Lee | Director Elections | Board | WITHHOLD | 5 | |
| KKR REAL ESTATE FINANCE TRUST INC. | April 14, 2026 | Elect Deborah H. McAneny | Director Elections | Board | WITHHOLD | 5 | |
| KKR REAL ESTATE FINANCE TRUST INC. | April 14, 2026 | Elect Irene M. Esteves | Director Elections | Board | WITHHOLD | 5 | |
| KKR REAL ESTATE FINANCE TRUST INC. | April 14, 2026 | Elect Jonathan A. Langer | Director Elections | Board | WITHHOLD | 5 | |
| KKR REAL ESTATE FINANCE TRUST INC. | April 14, 2026 | Elect Matthew A. Salem | Director Elections | Board | WITHHOLD | 5 | |
| KKR REAL ESTATE FINANCE TRUST INC. | April 14, 2026 | Elect Paula B. Madoff | Director Elections | Board | WITHHOLD | 5 | |
| KKR REAL ESTATE FINANCE TRUST INC. | April 14, 2026 | Elect Ralph F. Rosenberg | Director Elections | Board | WITHHOLD | 5 | |
| KKR REAL ESTATE FINANCE TRUST INC. | April 14, 2026 | Elect Terrance R. Ahern | Director Elections | Board | WITHHOLD | 5 | |
| KNOWLES CORPORATION | April 28, 2026 | Election of Director: Jeffrey Niew | Director Elections | Board | AGAINST | 5 |
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Built November 8, 2026 from SEC Form N-PX filings.