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Home / Families / Northern Trust and FlexShares / year to 30 June 2026

Form N-PX · fund family · year to 30 June 20263 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
284,120year to 30 June 2026
Against management
10.3%28,317 of 274,103 marked votes
Say-on-pay support
85.5%for, of for + against + abstain
Shareholder-proposal support
45.8%for, of for + against + abstain
87.4% for10.1% against2.5% other10.3% against management279,155 votes

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

For the year to 30 June 2026, Northern Trust and FlexShares reported 284,120 vote records on Form N-PX. 28,317 of the 274,103 votes that were marked for or against management went against management: 10.3%, 2.5 percentage points above the median of the fund families tracked here (7.8%).

Weighted by the number of shares voted, the against-management share is 11.2%. 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 85.5% of the section 14A say-on-pay items it reported (the median of the fund families tracked here: 88.2%) and it voted for 45.8% of the proposals put forward by security holders (the median of the fund families tracked here: 30.7%).

By category, votes against management were most frequent in EXTRAORDINARY TRANSACTIONS (27.9% of 3,580), SHAREHOLDER RIGHTS AND DEFENSES (21.4% of 627) and ENVIRONMENT OR CLIMATE (16.4% of 1,596).

It reported 3.15 billion shares out on loan at record dates, 6.13% 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 2026This familyMedian familyAll filers pooled
Against-management share10.3%7.8%10.6%
Say-on-pay support rate85.5%88.2%86.0%
Shareholder-proposal support rate45.8%30.7%33.9%
Shares on loan, share of shares held6.13%1.53%3.12%
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 ELECTIONS126,669112,8408,9799.0%
SECTION 14A SAY-ON-PAY VOTES26,53421,2213,58714.5%
AUDIT-RELATED18,00017,3166693.4%
INVESTMENT COMPANY MATTERS3530514.3%
SHAREHOLDER RIGHTS AND DEFENSES69752810621.4%
EXTRAORDINARY TRANSACTIONS3,5832,5731,00027.9%
CAPITAL STRUCTURE29,31026,8942,4168.3%
COMPENSATION25,96922,3013,51813.4%
CORPORATE GOVERNANCE52,67245,7776,66011.0%
ENVIRONMENT OR CLIMATE1,60285075216.4%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE80362217115.7%
DIVERSITY, EQUITY, AND INCLUSION8905513394.3%
OTHER SOCIAL ISSUES2,2011,32486714.8%
OTHER2,9212,0168607.5%

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 546 of the 4,867 it marked either way (11.2%) in the year to 30 June 2026. The 40 companies with the most reporting filers are listed.

A further 45 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 1,347 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 535 (39.7%). 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 Corporation5 Dec 2025Report on Human Rights Due Diligence
Microsoft Corporation5 Dec 2025Report on Data Operations in Human Rights Hotspots
NVIDIA Corporation24 Jun 2026Approval of a non-binding stockholder proposal requesting reporting on greenhouse gas emissions from the...
NVIDIA Corporation24 Jun 2026Approval of a non-binding stockholder proposal requesting the replacement of supermajority voting...
Alphabet Inc.5 Jun 2026Shareholder proposal regarding a report on AI data usage oversight
Alphabet Inc.5 Jun 2026Shareholder proposal regarding equal shareholder voting
Tesla, Inc.6 Nov 2025A shareholder proposal to seek shareholder approval before adopting an amendment to the bylaws pursuant to...
Tesla, Inc.6 Nov 2025Declassify the Board of Directors
Tesla, Inc.6 Nov 2025Shareholder proposal: CORPORATE GOVERNANCE
Verizon Communications Inc.21 May 2026Board oversight of material issues related to climate change
NextEra Energy, Inc.21 May 2026Report on Plans to Reduce and Align GHG Emissions with Paris Agreement Goals
QUALCOMM Incorporated17 Mar 2026Stockholder proposal entitled "Report on Risk of China Exposure."
AT&T INC.14 May 2026EEO-1 Report Disclosure Policy
Wells Fargo & Company28 Apr 2026Shareholder Proposal - Energy Supply Ratio.
The Goldman Sachs Group, Inc.29 Apr 2026Shareholder Proposal Regarding Disclosure of Energy Supply Ratio
Intel Corporation13 May 2026Stockholder proposal requesting a report on risk of China exposure.
Gilead Sciences, Inc.30 Apr 2026To vote on a stockholder proposal requesting a report on the impact of extended patent exclusivities on...
PALANTIR TECHNOLOGIES INC.3 Jun 2026Stockholder proposal entitled "Human Rights Impact Assessment,"
PALANTIR TECHNOLOGIES INC.3 Jun 2026Stockholder proposal entitled "Political Spending Disclosure,"
Deere & Company25 Feb 2026Shareholder proposal on shareholder right to act by written consent
Starbucks Corporation25 Mar 2026Shareholder proposal requesting supermajority shareholder voting requirements be replaced with majority...
Palo Alto Networks, Inc.9 Dec 2025To consider and vote upon a shareholder proposal, if properly presented at the Annual Meeting, regarding...
Booking Holdings Inc.2 Jun 2026Non-binding stockholder vote on a proposal to avoid brand damage due to corporate political spending.
Boston Scientific Corporation30 Apr 2026Stockholder proposal titled "Give Shareholders the Ability to Call for a Special Shareholder Meeting."
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding annual vote regarding executive pay.
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding disclosure of voting results by share class.
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding report on climate change-related commitments.
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding dual class capital structure.
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding report on Al data usage oversight.
United Parcel Service, Inc.7 May 2026To take steps to reduce the voting power of UPS class A stock from 10 votes per share to one vote per share.
THE SOUTHERN COMPANY13 May 2026Stockholder proposal regarding a report on data center costs
Target Corporation10 Jun 2026Shareholder proposal requesting a report on presence of pesticides in Target's private label brands.
Target Corporation10 Jun 2026Require Independent Board Chair
The Sherwin-Williams Company22 Apr 2026Shareholder Proposal Regarding Shareholder Ability to Call a Special Meeting
O'Reilly Automotive, Inc.14 May 2026Shareholder proposal entitled "Avoid Brand Damage due to Corporate Political Spending."
FORD MOTOR COMPANY14 May 2026A shareholder proposal relating to a request that the Board take steps to implement one vote per share for...
FORD MOTOR COMPANY14 May 2026A shareholder proposal relating to public disclosure by share class of voting results on matters subject...
Otis Worldwide Corporation27 May 2026Shareholder proposal regarding reporting on political contributions and expenditures
Marvell Technology, Inc.25 Jun 2026To consider and act on one stockholder proposal, entitled "Independent Board Chairman"
Snowflake Inc.29 Jun 2026To consider and vote on, if properly presented at the meeting, a non-binding stockholder proposal...

Shares on loan

Northern Trust and FlexShares reported 3.15 billion shares on loan at record dates against 48.28 billion shares voted: 6.13% of the two together. Median family: 1.53%. 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 2026 Northern Trust and FlexShares reported 24,803 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 21,215 were for (85.5%), 3,587 against and 1 abstentions. Counting one item per company meeting, it voted against management on 546 of the 4,867 say-on-pay items it marked either way. A further 45 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?

10.3% of the time in the year to 30 June 2026: 28,317 of the 274,103 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 977 votes on proposals from security holders in the year to 30 June 2026 and voted for 243 of them (24.9%). Across every category it voted for 45.8% 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 2026

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.