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Form N-PX · fund registrantSEC filer no. 1012968

T. Rowe Price Equity Funds, Inc.

fund voting report, part of T. Rowe Price

Vote records reported
10,477year to 30 June 2026
Against management
5.7%594 of 10,491 marked votes
Say-on-pay support
95.9%for, of for + against + abstain
Shareholder-proposal support
8.4%for, of for + against + abstain
89.6% for7.4% against3.0% other5.7% against management10,499 votes

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

For the year to 30 June 2026, T. Rowe Price Equity Funds, Inc. reported 10,477 vote records on Form N-PX. 594 of the 10,491 votes that were marked for or against management went against management: 5.7%, close to the median fund registrant (6.2%).

Weighted by the number of shares voted, the against-management share is 7.2%. 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 95.9% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 8.4% of the proposals put forward by security holders (the median fund registrant: 27.5%).

By category, votes against management were most frequent in EXTRAORDINARY TRANSACTIONS (32.1% of 56), SHAREHOLDER RIGHTS AND DEFENSES (22.6% of 53) and CORPORATE GOVERNANCE (18.2% of 584).

It reported 18.3 million shares out on loan at record dates, 0.51% 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 1,241 fund registrants with at least 25 vote records in the season.

year to 30 June 2026This filerMedian fund registrantAll filers pooled
Against-management share5.7%6.2%10.6%
Say-on-pay support rate95.9%91.6%86.0%
Shareholder-proposal support rate8.4%27.5%33.9%
Shares on loan, share of shares held0.51%0.00%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 ELECTIONS7,3656,9571615.5%
SECTION 14A SAY-ON-PAY VOTES842752314.2%
AUDIT-RELATED87987710.2%
SHAREHOLDER RIGHTS AND DEFENSES54421222.6%
EXTRAORDINARY TRANSACTIONS56361932.1%
CAPITAL STRUCTURE17316768.1%
COMPENSATION329295317.6%
CORPORATE GOVERNANCE59030627418.2%
ENVIRONMENT OR CLIMATE13171241.5%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE654610.0%
DIVERSITY, EQUITY, AND INCLUSION754710.0%
OTHER SOCIAL ISSUES195111841.0%
OTHER171610.0%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 202411,3395.0%94.7%9.3%
year to 30 June 202510,7945.2%96.1%8.7%
year to 30 June 202610,4775.7%95.9%8.4%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, T. Rowe Price Equity Funds, Inc. voted against management on 20 of the 560 it marked either way (3.6%) in the year to 30 June 2026.

Shareholder proposals it supported

Of 286 proposals from security holders that could be told apart in the filings and on which it cast a vote, T. Rowe Price Equity Funds, Inc. voted for 27 (9.4%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.

CompanyMeetingProposal
NVIDIA Corporation24 Jun 2026Approval of a non-binding stockholder proposal requesting the replacement of supermajority voting...
Alphabet Inc.5 Jun 2026Shareholder proposal regarding equal shareholder voting
Tesla, Inc.6 Nov 2025Declassify the Board of Directors
Tesla, Inc.6 Nov 2025Shareholder proposal: CORPORATE GOVERNANCE
NextEra Energy, Inc.21 May 2026Report on Plans to Reduce and Align GHG Emissions with Paris Agreement Goals
Lowe's Companies, Inc.29 May 2026Shareholder Proposal requesting a report describing how the Company could disclose its plastic packaging...
PALANTIR TECHNOLOGIES INC.3 Jun 2026Stockholder proposal entitled "Political Spending Disclosure,"
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...
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding annual vote regarding executive pay.
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding dual class capital structure.
Target Corporation10 Jun 2026Require Independent Board Chair
Cintas Corporation28 Oct 2025A shareholder proposal regarding support for shareholder ability to call for a special shareholder meeting.
WEC Energy Group, Inc.7 May 2026Stockholder proposal to govern by majority vote
Airbnb, Inc.5 Jun 2026Dual-class sunset; and
Datadog, Inc.15 Jun 2026The stockholder proposal, if properly presented at the Annual Meeting, requesting the adoption of a simple...
Workday, Inc.16 Jun 2026To consider and vote upon a stockholder proposal regarding disclosure of voting results based on share class.
Avery Dennison Corporation30 Apr 2026Require Independent Board Chair
Zscaler, Inc.12 Jan 2026To vote on a non-binding stockholder proposal requesting the declassification of our board of directors.
Domino's Pizza, Inc.21 Apr 2026Shareholder proposal regarding an independent board chair requirement.
West Pharmaceutical Services, Inc.4 May 2026Shareholder proposal regarding an independent Board Chair policy.
HubSpot, Inc.15 Jun 2026A stockholder proposal to change the Company's Sixth Amended and Restated Bylaws to allow 10% holders of...
Corpay, Inc.7 May 2026Shareholder proposal regarding an independent Board Chair requirement
TransUnion12 May 2026Advisory vote on a stockholder proposal requesting a stockholder right to call a special meeting.
Fortune Brands Innovations, Inc.5 May 2026Advisory vote to approve named executive officer compensation
RB Global, Inc.30 Apr 2026Approval of a special resolution, requiring the Company to adopt a policy and amend its governing...
OGE Energy Corp.14 May 2026Shareholder Proposal Regarding Simple Majority Vote.

Shares on loan

T. Rowe Price Equity Funds, Inc. reported 18.3 million shares on loan at record dates against 3.55 billion shares voted: 0.51% of the two together. Median fund registrant: 0.00%. 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.

Fund series in this filing

6 series reported votes. A vote record can list several series. Series with 500 or more vote records have their own page.

SeriesVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
T. Rowe Price Hedged Equity Fund4,5674.3%96.9%6.5%
T. Rowe Price Institutional Small-Cap Stock Fund2,2399.2%94.4%22.2%
T. Rowe Price Institutional Mid-Cap Equity Growth Fund1,1867.7%94.9%40.0%
T. Rowe Price Large-Cap Value Fund1,1761.6%98.6%2.3%
T. Rowe Price Institutional Large-Cap Core Growth Fund7764.7%100.0%10.8%
T. Rowe Price Large-Cap Growth Fund5338.1%100.0%9.8%

The filings

These figures are read from the filer's own Form N-PX. If a vote on this page looks wrong, the filing is the record: a dispute about a filed vote is a matter for the filer, and an error in how this site read the filing is a matter for corrections.

Questions

How did T. Rowe Price Equity Funds, Inc. vote on executive pay?

In the year to 30 June 2026 T. Rowe Price Equity Funds, Inc. reported 784 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 752 were for (95.9%), 31 against and 1 abstentions. Counting one item per company meeting, it voted against management on 20 of the 560 say-on-pay items it marked either way.

How often does T. Rowe Price Equity Funds, Inc. vote against management?

5.7% of the time in the year to 30 June 2026: 594 of the 10,491 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 T. Rowe Price Equity Funds, Inc. support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 126 votes on proposals from security holders in the year to 30 June 2026 and voted for 2 of them (1.6%). Across every category it voted for 8.4% 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 this filer 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.

Provenance: SEC EDGAR, Form N-PX and N-PX/A filings by T. Rowe Price Equity Funds, Inc. (filer no. 1012968), read as filed and not verified by the SEC. Amended filings replace the filings they amend. Filings read through 23 Sep 2026; page built 26 Sep 2026.