Vote Scores

Home / Families / Northern Trust and FlexShares / year to 30 June 2024

Form N-PX · fund family · year to 30 June 20243 filers grouped

Northern Trust and FlexShares

One season of the Northern Trust and FlexShares record. The family page shows the latest season.

Vote records reported
284,100year to 30 June 2024
Against management
11.5%31,029 of 268,757 marked votes
Say-on-pay support
83.3%for, of for + against + abstain
Shareholder-proposal support
53.4%for, of for + against + abstain
86.1% for10.9% against3.0% other11.5% against management273,247 votes

foragainstabstain, withhold or otheramber tick: the portion cast against management

For the year to 30 June 2024, Northern Trust and FlexShares reported 284,100 vote records on Form N-PX. 31,029 of the 268,757 votes that were marked for or against management went against management: 11.5%, 3.0 percentage points above the median of the fund families tracked here (8.5%).

Weighted by the number of shares voted, the against-management share is 9.6%. The two figures differ when the votes against management fall on larger or smaller holdings than the rest.

On pay and on shareholder proposals: it voted for 83.3% of the section 14A say-on-pay items it reported (the median of the fund families tracked here: 89.0%) and it voted for 53.4% of the proposals put forward by security holders (the median of the fund families tracked here: 35.1%).

By category, votes against management were most frequent in HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE (28.6% of 985), OTHER SOCIAL ISSUES (26.3% of 2,727) and ENVIRONMENT OR CLIMATE (25.2% of 1,976).

It reported 2.05 billion shares out on loan at record dates, 4.41% of the shares it held or had lent across the meetings it reported. Shares on loan are not voted.

Compared with other filers

Each rate is defined once, in the methodology. The median is taken over 60 families with at least 25 vote records in the season.

year to 30 June 2024This familyMedian familyAll filers pooled
Against-management share11.5%8.5%10.2%
Say-on-pay support rate83.3%89.0%84.6%
Shareholder-proposal support rate53.4%35.1%37.0%
Shares on loan, share of shares held4.41%1.34%0.08%
Largest families, year to 30 June 2026Against managementSay-on-pay supportShareholder-proposal support
Vanguard20.1%94.1%42.0%
BlackRock and iShares7.5%88.3%11.9%
Fidelity6.0%94.7%27.6%
Dimensional16.4%78.9%57.4%
State Street and SPDR16.9%77.1%50.4%

Votes by category

Filers choose one or more categories for each vote, so a vote can appear in more than one row. Category names are printed as Form N-PX defines them.

Category (as the form names it)VotesForAgainstAgainst managementSplit
DIRECTOR ELECTIONS125,739108,71612,14711.9%
SECTION 14A SAY-ON-PAY VOTES25,91019,2393,72116.0%
AUDIT-RELATED16,48516,2272441.2%
INVESTMENT COMPANY MATTERS3300.0%
SHAREHOLDER RIGHTS AND DEFENSES7255777517.8%
EXTRAORDINARY TRANSACTIONS2,4262,14228211.3%
CAPITAL STRUCTURE28,19925,7802,4198.6%
COMPENSATION27,22023,4993,64512.6%
CORPORATE GOVERNANCE49,85843,9515,69210.6%
ENVIRONMENT OR CLIMATE1,9888501,06725.2%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE98662333628.6%
DIVERSITY, EQUITY, AND INCLUSION1,10356352518.4%
OTHER SOCIAL ISSUES2,7481,5451,09726.3%
OTHER3,4712,6817686.1%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 2024284,10011.5%83.3%53.4%
year to 30 June 2025277,3779.4%89.1%50.8%
year to 30 June 2026284,12010.3%85.5%45.8%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, Northern Trust and FlexShares voted against management on 258 of the 4,676 it marked either way (5.5%) in the year to 30 June 2024. The 40 companies with the most reporting filers are listed.

A further 56 say-on-pay items were reported without a management mark and are left out of both sides of that fraction.

Shareholder proposals it supported

Of 1,649 proposals from security holders that could be told apart in the filings and on which it cast a vote, Northern Trust and FlexShares voted for 848 (51.4%). The 40 at the companies with the most reporting filers are listed. Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.

CompanyMeetingProposal
Microsoft Corporation7 Dec 2023Report on Data Operations in Human Rights Hotspots
Amazon.com, Inc.22 May 2024Establish a Board Committee on Artificial Intelligence
NVIDIA Corporation26 Jun 2024Advisory approval of a stockholder proposal to replace the supermajority voting provisions in our charter...
Visa Inc.23 Jan 2024To vote on a stockholder proposal requesting that the Board adopt a policy to seek shareholder...
JPMorgan Chase & Co.21 May 2024Shareholder opportunity to vote on excessive golden parachutes
Mastercard Incorporated18 Jun 2024Consideration of a stockholder proposal requesting transparency in lobbying
The Home Depot, Inc.16 May 2024Shareholder Proposal Regarding Enhancements to the Company's Clawback Policy
AbbVie Inc.3 May 2024Stockholder Proposal - to Implement Simple Majority Vote
AbbVie Inc.3 May 2024Stockholder Proposal - to Issue Annual Report on Lobbying
EXXON MOBIL CORPORATION29 May 2024Shareholder proposal: ENVIRONMENT OR CLIMATE
CHEVRON CORPORATION29 May 2024Commission a Third-Party Report on Human Rights Practices
The Walt Disney Company3 Apr 2024Shareholder proposal: CORPORATE GOVERNANCE
Walmart Inc.5 Jun 2024Racial Equity Audit
Walmart Inc.5 Jun 2024Publication of Targets for Transitioning from Gestation Crates in Pork Supply Chain
Walmart Inc.5 Jun 2024Workplace Safety & Violence Review
Verizon Communications Inc.9 May 2024Political expenditures misalignment
Verizon Communications Inc.9 May 2024Lobbying activities report
Verizon Communications Inc.9 May 2024Civil liberties in digital services
McDonald's Corporation22 May 2024Advisory Vote on Poultry Welfare Disclosure.
Netflix, Inc.6 Jun 2024Report on Use of Artificial Intelligence
NIKE, Inc.12 Sep 2023To consider a shareholder proposal regarding a Supply Chain Management Report
Tesla, Inc.13 Jun 2024A stockholder proposal regarding adopting targets and reporting on metrics to assess the feasibility of...
Tesla, Inc.13 Jun 2024A stockholder proposal regarding adoption of a freedom of association and collective bargaining policy
Tesla, Inc.13 Jun 2024A stockholder proposal regarding annual reporting on anti-harassment and discrimination efforts
Tesla, Inc.13 Jun 2024A stockholder proposal regarding committing to a moratorium on sourcing minerals from deep sea mining
Tesla, Inc.13 Jun 2024A stockholder proposal regarding simple majority voting provisions in our governing documents
Tesla, Inc.13 Jun 2024Declassify the Board of Directors
ConocoPhillips14 May 2024Simple Majority Vote.
International Business Machines Corporation30 Apr 2024Stockholder Proposal Requesting a Public Report on Congruency in China Business Operations and ESG Activities
International Business Machines Corporation30 Apr 2024Stockholder Proposal Requesting a Public Report on Lobbying Activities
Target Corporation12 Jun 2024Shareholder proposal to establish wage policies.
Target Corporation12 Jun 2024Shareholder proposal requesting animal pain management reporting.
Target Corporation12 Jun 2024Shareholder proposal requesting a political contributions congruency analysis.
Target Corporation12 Jun 2024Shareholder proposal to adopt a policy for an independent board chair.
CATERPILLAR INC.12 Jun 2024Shareholder Proposal - Lobbying Disclosure
CATERPILLAR INC.12 Jun 2024Shareholder Proposal - Independent Board Chairman
RTX CORPORATION2 May 2024Shareowner Proposal Requesting a Lobbying Transparency Report
Mondelez International, Inc.22 May 2024Shareholder proposal requesting third-party report assessing effectiveness of implementation of human...
Intuit Inc.18 Jan 2024Environment or climate
United Parcel Service, Inc.2 May 2024To take steps to reduce the voting power of UPS class A stock from 10 votes per share to one vote per share.

Shares on loan

Northern Trust and FlexShares reported 2.05 billion shares on loan at record dates against 44.38 billion shares voted: 4.41% of the two together. Median family: 1.34%. Shares lent out at the record date cannot be voted by the lender, which is why Form N-PX asks for the figure. More on lending and votes.

Questions

How did Northern Trust and FlexShares vote on executive pay?

In the year to 30 June 2024 Northern Trust and FlexShares reported 23,104 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 19,237 were for (83.3%), 3,720 against and 147 abstentions. Counting one item per company meeting, it voted against management on 258 of the 4,676 say-on-pay items it marked either way. A further 56 say-on-pay items were reported without a management mark and are not counted in that figure.

How often does Northern Trust and FlexShares vote against management?

11.5% of the time in the year to 30 June 2024: 31,029 of the 268,757 votes it marked as for or against management. Form N-PX asks each filer to state, vote by vote, whether the vote was for or against management's recommendation; this figure counts those marks.

Did Northern Trust and FlexShares support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 1,492 votes on proposals from security holders in the year to 30 June 2024 and voted for 396 of them (26.5%). Across every category it voted for 53.4% of security-holder proposals. Filers choose the category for each vote, so the same proposal can sit in different categories in different filings.

Is this the result of the meetings?

No. Form N-PX shows how this filer voted the shares it held. It does not show how other shareholders voted or whether a proposal was approved. Companies report certified results separately, on Form 8-K.

Where does the data come from?

From the Form N-PX filings of the registrants and managers grouped under this family on the SEC's EDGAR system, read as filed. The SEC does not verify the contents. Amended filings (N-PX/A) replace the filings they amend. Data on this page runs through 23 Sep 2026.

Back to the Northern Trust and FlexShares family page · All filers in the year to 30 June 2024

Provenance: SEC EDGAR, Form N-PX and N-PX/A filings of the filers grouped under Northern Trust and FlexShares, read as filed and not verified by the SEC. Filings read through 23 Sep 2026; page built 26 Sep 2026.