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 |
|---|---|---|---|---|---|---|---|
| Makkah Construction & Development Co. | June 2, 2026 | Elect Nasir Boursli as Director | Director Elections | Board | ABSTAIN | 5 | |
| Makkah Construction & Development Co. | June 2, 2026 | Elect Raad Al Qahtani as Director | Director Elections | Board | ABSTAIN | 5 | |
| Makkah Construction & Development Co. | June 2, 2026 | Elect Saad Al Shabeeb as Director | Director Elections | Board | ABSTAIN | 5 | |
| Makkah Construction & Development Co. | June 2, 2026 | Elect Salih bin Ladin as Director | Director Elections | Board | ABSTAIN | 5 | |
| Makkah Construction & Development Co. | June 2, 2026 | Elect Sami Al Babteen as Director | Director Elections | Board | ABSTAIN | 5 | |
| Makkah Construction & Development Co. | June 2, 2026 | Elect Tariq Mulla Niyazi as Director | Director Elections | Board | ABSTAIN | 5 | |
| Makkah Construction & Development Co. | June 2, 2026 | Elect Wael Al Bassam as Director | Director Elections | Board | ABSTAIN | 5 | |
| Makkah Construction & Development Co. | June 2, 2026 | Elect Ziyad Al Bassam as Director | Director Elections | Board | ABSTAIN | 5 | |
| Makkah Construction & Development Co. | June 2, 2026 | Elect Ziyad Al Haqeel as Director | Director Elections | Board | ABSTAIN | 5 | |
| Management Solutions Co., Ltd. | March 27, 2026 | Elect Director Takahashi, Shinya | Director Elections | Board | AGAINST | 5 | |
| Manappuram Finance Limited | August 14, 2025 | Approve Grant of Options to the Employees of the Subsidiary Company of the Company Under Manappuram Finance Limited - Employee Stock Option Scheme 2025 | Compensation | Board | AGAINST | 5 | |
| Manappuram Finance Limited | August 14, 2025 | Approve Manappuram Finance Limited - Employee Stock Option Scheme 2025 | Compensation | Board | AGAINST | 5 | |
| Manappuram Finance Limited | August 14, 2025 | Reelect Sumitha Nandan as Director | Director Elections | Board | AGAINST | 5 | |
| Maoyan Entertainment | June 23, 2026 | Elect Sun Zhonghuai as Director | Director Elections | Board | AGAINST | 5 | |
| Mars Group Holdings Corp. | June 25, 2026 | Approve Director and Statutory Auditor Retirement Bonus | Compensation | Board | AGAINST | 5 | |
| Materials Analysis Technology Inc. | June 18, 2026 | Approve Issuance of Shares via a Private Placement | Capital Structure | Board | AGAINST | 5 | |
| Matrix IT Ltd. | December 17, 2025 | Reappoint BDO Ziv Haft as Auditors | Audit-related | Board | AGAINST | 5 | |
| Matsuya Foods Holdings Co., Ltd. | June 25, 2026 | Approve Director Retirement Bonus | Compensation | Board | AGAINST | 5 | |
| Matsuya Foods Holdings Co., Ltd. | June 25, 2026 | Elect Director Kawarabuki, Kazutoshi | Director Elections | Board | AGAINST | 5 | |
| Mega Lifesciences Public Company Limited | April 3, 2026 | Approve KPMG Phoomchai Audit Ltd. as Auditors and Authorize Board to Fix Their Remuneration | Audit-related | Board | AGAINST | 5 | |
| Mehow Innovative Ltd. | May 22, 2026 | Approve Credit Line Application and Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Melisron Ltd. | March 15, 2026 | Reappoint Brightman Almagor Zohar & Co. (Deloitte) as Auditors | Audit-related | Board | AGAINST | 5 | |
| Mesnac Co., Ltd. | April 24, 2026 | Approve Credit Line from Belgian Union Bank AG Shanghai Branch and Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Mesnac Co., Ltd. | April 24, 2026 | Approve Credit Line from China Development Bank and Provision of Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Mesnac Co., Ltd. | April 24, 2026 | Approve Development of Asset Pool Business | Capital Structure | Board | AGAINST | 5 | |
| Mesnac Co., Ltd. | April 24, 2026 | Approve Provision of Guarantee for Credit Line Application of Overseas Subsidiary | Capital Structure | Board | AGAINST | 5 | |
| Meta Platforms, Inc. | May 27, 2026 | Elect Marc L. Andreessen | Director Elections | Board | WITHHOLD | 5 | |
| Metallurgical Corporation of China Ltd. | June 29, 2026 | Approve Plan of Guarantees | Capital Structure | Board | AGAINST | 5 | |
| Metropolis Healthcare Limited | August 13, 2025 | Approve Extension of the Metropolis - Employees Stock Options Plan, 2025 to the Eligible Employees of the Subsidiary(ies) | Compensation | Board | AGAINST | 5 | |
| Metropolis Healthcare Limited | August 13, 2025 | Approve Metropolis - Employees Stock Options Plan, 2025 | Compensation | Board | AGAINST | 5 | |
| Metropolis Healthcare Limited | August 13, 2025 | Approve Remuneration Payable to Sushil Shah as Non-Executive Non-Independent Director | Compensation | Board | AGAINST | 5 | |
| Metsa Board Corp. | March 19, 2026 | Approve Remuneration of Directors in the Amount of EUR 99,000 for Chair, EUR 85,000 for Vice Chair and EUR 67,000 for Other Directors; Approve Meeting Fees; Approve Remuneration for Committee Work | Compensation | Board | AGAINST | 5 | |
| Metsa Board Corp. | March 19, 2026 | Reelect Leena Craelius, Raija-Leena Hankonen-Nybom, Mari Kiviniemi, Jussi Linnaranta, Jukka Moisio, Mikko Makimattila and Jussi Vanhanen as Directors; Elect Elina Bjorklund and Daniel Peltonen as New Directors | Director Elections | Board | ABSTAIN | 5 | |
| Micro-Tech (Nanjing) Co., Ltd. | November 12, 2025 | Approve Management System for Shareholding Held by Directors and Senior Management Members and Its Change | Compensation | Board | AGAINST | 5 | |
| Micro-Tech (Nanjing) Co., Ltd. | May 19, 2026 | Approve Application of Credit Lines | Capital Structure | Board | AGAINST | 5 | |
| Micro-Tech (Nanjing) Co., Ltd. | May 19, 2026 | Approve Remuneration and Remuneration Plan of Directors | Compensation | Board | AGAINST | 5 | |
| Midea Group Co., Ltd. | September 24, 2025 | Approve General Mandate to Issue Onshore and Offshore Debt Financing Instruments | Capital Structure | Board | AGAINST | 5 | |
| Midea Group Co., Ltd. | September 24, 2025 | Approve Provision of Guarantees | Capital Structure | Board | AGAINST | 5 | |
| Minda Corporation Limited | August 22, 2025 | Approve Advancement of any Loan, Financial Assistance, Give Guarantee, Provide Security, Letter of Comfort and Letter of Support Under Section 185 of the Companies Act, 2013 to the Entities in which Directors are in Interested | Capital Structure | Board | AGAINST | 5 | |
| Minda Corporation Limited | March 15, 2026 | Approve Grant of Employee Stock Options to Employees of Group Companies Including Associate Company(ies) Under Minda - Employee Stock Option Scheme 2025 | Compensation | Board | AGAINST | 5 | |
| Minda Corporation Limited | March 15, 2026 | Approve Grant of Employee Stock Options to Employees of Subsidiary Company(ies) Under Minda - Employee Stock Option Scheme 2025 to | Compensation | Board | AGAINST | 5 | |
| Minda Corporation Limited | March 15, 2026 | Approve Minda - Employee Stock Option Scheme 2025 | Compensation | Board | AGAINST | 5 | |
| Ming Yang Smart Energy Group Co., Ltd. | May 20, 2026 | Approve Application of Credit Lines | Capital Structure | Board | AGAINST | 5 | |
| Ming Yang Smart Energy Group Co., Ltd. | May 20, 2026 | Approve External Guarantee | Capital Structure | Board | AGAINST | 5 | |
| Mitani Sekisan Co., Ltd. | June 24, 2026 | Approve Director Retirement Bonus | Compensation | Board | AGAINST | 5 | |
| Mitani Sekisan Co., Ltd. | June 24, 2026 | Elect Director Mitani, Shinji | Director Elections | Board | AGAINST | 5 | |
| Mitchells & Butlers Plc | January 29, 2026 | Re-elect Eddie Irwin as Director | Director Elections | Board | AGAINST | 5 | |
| Mivne Real Estate (K.D) Ltd. | January 11, 2026 | Reappoint Ernst & Young - Kost Forer Gabbay & Kasierer as Auditors and Authorize Board to Fix Their Remuneration | Audit-related | Board | AGAINST | 5 | |
| Mivne Real Estate (K.D) Ltd. | March 5, 2026 | Approve Compensation Policy for the Directors and Officers of the Company | Compensation | Board | AGAINST | 5 | |
| Montage Technology Co., Ltd. | June 24, 2026 | Approve External Guarantee Limit | Capital Structure | Board | AGAINST | 5 | |
| Montana Aerospace AG | May 19, 2026 | Approve Remuneration Report (Non-Binding) | Compensation | Board | AGAINST | 5 | |
| Montana Aerospace AG | May 19, 2026 | Approve Remuneration of Directors in the Amount of CHF 2 Million | Compensation | Board | AGAINST | 5 | |
| Montana Aerospace AG | May 19, 2026 | Reappoint Christian Hosp as Member of the Nomination and Compensation Committee | Director Elections | Board | AGAINST | 5 | |
| Montana Aerospace AG | May 19, 2026 | Reappoint Michael Tojner as Member of the Nomination and Compensation Committee | Director Elections | Board | AGAINST | 5 | |
| Montana Aerospace AG | May 19, 2026 | Reelect Christian Hosp as Director | Director Elections | Board | AGAINST | 5 | |
| Montana Aerospace AG | May 19, 2026 | Reelect Markus Vischer as Director | Director Elections | Board | AGAINST | 5 | |
| Montana Aerospace AG | May 19, 2026 | Reelect Michael Tojner as Director and Board Chair | Director Elections | Board | AGAINST | 5 | |
| Mota-Engil SGPS SA | April 23, 2026 | Approve Remuneration Policy | Compensation | Board | AGAINST | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Abdulazeez Al Sabiq as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Abdulilah Al Tounisi as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Abdullah Al Al Sheikh as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Ahmed Khoqeer as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Ali Al Oteebi as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Batil Al Anzi as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Fahd Al Ajmi as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Fahd Al Dhufeeri as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Faysal Al Assaf as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Faysal Hameed as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Firas Al Fareeh as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Hani Al Bakheetan as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Hani Qashlan as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Ibraheem Ababteen as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Khalid Al Nuweesir as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Khalid Al Saleem as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Khalid Al Shineebir as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Mahir Al Abawi as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Majid Al Baddah as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Majid Fattah as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Mohammed Al Mutlaq as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Mohammed Al Qahtani as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Mohammed Al Shayiea as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Mohammed Al Shihri as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Mohammed Al Subayee as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Mohammed Al Sultan as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Mohammed Al Tuweejri as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Muath Al Zamil as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Muhannad Abou Al Majd as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Muslih Al Harith as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Nasir Al Subayee as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Nawaf Al Husni as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Omar Abduljabbar as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Omar Al Ajjaji as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Saeed Al Harthi as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Sami Al Abdulkareem as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Sami Al Babteen as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Saoud Al Arfaj as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Shabnam Mohammed as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Sulayman Al Khazzi as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Sulayman Al Numeer as Director | Director Elections | Board | ABSTAIN | 5 | |
| Mouwasat Medical Services Co. | December 4, 2025 | Elect Sulayman Al Omeeri as Director | Director Elections | Board | ABSTAIN | 5 |
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Built November 8, 2026 from SEC Form N-PX filings.