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Home / Families / Principal / year to 30 June 2024

Form N-PX · fund family · year to 30 June 20245 filers grouped

Principal

One season of the Principal record. The family page shows the latest season.

Vote records reported
173,526year to 30 June 2024
Against management
9.2%15,814 of 171,318 marked votes
Say-on-pay support
88.8%for, of for + against + abstain
Shareholder-proposal support
44.0%for, of for + against + abstain
88.6% for6.6% against4.8% other9.2% against management172,682 votes

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

For the year to 30 June 2024, Principal reported 173,526 vote records on Form N-PX. 15,814 of the 171,318 votes that were marked for or against management went against management: 9.2%, close to the median of the fund families tracked here (8.5%).

Weighted by the number of shares voted, the against-management share is 7.5%. 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 88.8% of the section 14A say-on-pay items it reported (the median of the fund families tracked here: 89.0%) and it voted for 44.0% 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 DIVERSITY, EQUITY, AND INCLUSION (28.3% of 1,080), ENVIRONMENT OR CLIMATE (25.6% of 1,780) and OTHER SOCIAL ISSUES (25.5% of 2,299).

It reported 97.4 million shares out on loan at record dates, 0.31% 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 share9.2%8.5%10.2%
Say-on-pay support rate88.8%89.0%84.6%
Shareholder-proposal support rate44.0%35.1%37.0%
Shares on loan, share of shares held0.31%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 ELECTIONS105,83996,1673,8478.7%
SECTION 14A SAY-ON-PAY VOTES15,41911,8031,48810.8%
AUDIT-RELATED13,53213,435760.5%
SHAREHOLDER RIGHTS AND DEFENSES6165336123.9%
EXTRAORDINARY TRANSACTIONS934870556.2%
CAPITAL STRUCTURE7,9657,5633755.2%
COMPENSATION10,6058,6281,89416.6%
CORPORATE GOVERNANCE15,59213,9481,42210.0%
ENVIRONMENT OR CLIMATE1,7946521,13825.6%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE93038554325.0%
DIVERSITY, EQUITY, AND INCLUSION1,08645463228.3%
OTHER SOCIAL ISSUES2,3259741,35125.5%
OTHER6274861390.0%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 2024173,5269.2%88.8%44.0%
year to 30 June 2025103,7286.7%90.6%28.3%
year to 30 June 2026142,8568.0%90.4%28.0%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, Principal voted against management on 305 of the 2,559 it marked either way (11.9%) in the year to 30 June 2024. The 40 companies with the most reporting filers are listed.

A further 3 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 863 proposals from security holders that could be told apart in the filings and on which it cast a vote, Principal voted for 386 (44.7%). 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 Corporation7 Dec 2023Report on Data Operations in Human Rights Hotspots
Apple Inc.28 Feb 2024A shareholder proposal entitled "Racial and Gender Pay Gaps"
Apple Inc.28 Feb 2024A shareholder proposal requesting a report on the use of Al
NVIDIA Corporation26 Jun 2024Advisory approval of a stockholder proposal to replace the supermajority voting provisions in our charter...
JPMorgan Chase & Co.21 May 2024Shareholder opportunity to vote on excessive golden parachutes
JPMorgan Chase & Co.21 May 2024Indigenous peoples' rights indicators
JPMorgan Chase & Co.21 May 2024Independent board chairman
UnitedHealth Group Incorporated3 Jun 2024If properly presented at the 2024 Annual Meeting of Shareholders, the shareholder proposal requiring a...
Mastercard Incorporated18 Jun 2024Consideration of a stockholder proposal requesting transparency in lobbying
Merck & Co., Inc.28 May 2024Shareholder proposal regarding a shareholder right to act by written consent
The Home Depot, Inc.16 May 2024Shareholder Proposal Regarding Enhancements to the Company's Clawback Policy
The Home Depot, Inc.16 May 2024Shareholder Proposal Regarding a Report on Biodiversity Impact and Dependency Assessment
AbbVie Inc.3 May 2024Stockholder Proposal - to Implement Simple Majority Vote
AbbVie Inc.3 May 2024Stockholder Proposal - to Issue Annual Report on Lobbying
AbbVie Inc.3 May 2024Stockholder Proposal - to Issue a Report on Patent Process
EXXON MOBIL CORPORATION29 May 2024Additional Pay Report on Gender and Racial Basis
EXXON MOBIL CORPORATION29 May 2024Shareholder proposal: ENVIRONMENT OR CLIMATE
Eli Lilly and Company6 May 2024Shareholder proposal to report on effectiveness of the company's diversity, equity, and inclusion efforts.
Eli Lilly and Company6 May 2024Shareholder proposal to publish an annual report disclosing lobbying activities.
CHEVRON CORPORATION29 May 2024Commission a Third-Party Report on Human Rights Practices
The Procter & Gamble Company10 Oct 2023Shareholder Proposal - Request to Require Shareholder Approval for Certain Future Amendments to Company...
PEPSICO, INC.1 May 2024Shareholder Proposal - Report on Risks Related to Biodiversity and Nature Loss.
Bank of America Corporation24 Apr 2024Report on Climate Lobbying
Bank of America Corporation24 Apr 2024Shareholder proposal requesting disclosure of clean energy financing ratio
Bank of America Corporation24 Apr 2024Shareholder proposal requesting independent board chair
The Walt Disney Company3 Apr 2024Shareholder proposal: CORPORATE GOVERNANCE
Walmart Inc.5 Jun 2024Human Rights Impact Assessment
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
Comcast Corporation10 Jun 2024Report on political expenditures misalignment with company values
Verizon Communications Inc.9 May 2024Amend clawback policy
Verizon Communications Inc.9 May 2024Lead-sheathed cable report
Verizon Communications Inc.9 May 2024Lobbying activities report
Verizon Communications Inc.9 May 2024Independent Board chair
McDonald's Corporation22 May 2024Advisory Vote on Poultry Welfare Disclosure.
Netflix, Inc.6 Jun 2024Stockholder proposal entitled, "Proposal 8 - Special Shareholder Meeting Improvement,"
Netflix, Inc.6 Jun 2024Report on Use of Artificial Intelligence
Oracle Corporation15 Nov 2023Stockholder Proposal Regarding Pay Gap Report
Oracle Corporation15 Nov 2023Stockholder Proposal Regarding Independent Board Chairman

Shares on loan

Principal reported 97.4 million shares on loan at record dates against 31.32 billion shares voted: 0.31% 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 Principal vote on executive pay?

In the year to 30 June 2024 Principal reported 13,294 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 11,803 were for (88.8%), 1,488 against and 3 abstentions. Counting one item per company meeting, it voted against management on 305 of the 2,559 say-on-pay items it marked either way. A further 3 say-on-pay items were reported without a management mark and are not counted in that figure.

How often does Principal vote against management?

9.2% of the time in the year to 30 June 2024: 15,814 of the 171,318 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 Principal support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 1,587 votes on proposals from security holders in the year to 30 June 2024 and voted for 450 of them (28.4%). Across every category it voted for 44.0% 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 Principal 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 Principal, read as filed and not verified by the SEC. Filings read through 23 Sep 2026; page built 26 Sep 2026.