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Form N-PX · fund registrantSEC filer no. 1022804

FRANKLIN FUND ALLOCATOR SERIES

fund voting report, part of Franklin Templeton

Vote records reported
11,465year to 30 June 2026
Against management
7.9%880 of 11,109 marked votes
Say-on-pay support
90.4%for, of for + against + abstain
Shareholder-proposal support
33.7%for, of for + against + abstain
88.9% for8.7% against2.4% other7.9% against management11,376 votes

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

For the year to 30 June 2026, FRANKLIN FUND ALLOCATOR SERIES reported 11,465 vote records on Form N-PX. 880 of the 11,109 votes that were marked for or against management went against management: 7.9%, 1.7 percentage points above the median fund registrant (6.2%).

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 90.4% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 33.7% of the proposals put forward by security holders (the median fund registrant: 27.5%).

By category, votes against management were most frequent in SHAREHOLDER RIGHTS AND DEFENSES (38.7% of 31), EXTRAORDINARY TRANSACTIONS (16.9% of 89) and COMPENSATION (12.0% of 1,131).

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 share7.9%6.2%10.6%
Say-on-pay support rate90.4%91.6%86.0%
Shareholder-proposal support rate33.7%27.5%33.9%
Shares on loan, share of shares held0.00%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 ELECTIONS5,5444,9843117.4%
SECTION 14A SAY-ON-PAY VOTES283245269.5%
AUDIT-RELATED678650284.2%
INVESTMENT COMPANY MATTERS1100.0%
SHAREHOLDER RIGHTS AND DEFENSES3324738.7%
EXTRAORDINARY TRANSACTIONS89741516.9%
CAPITAL STRUCTURE1,1531,059948.9%
COMPENSATION1,15199414512.0%
CORPORATE GOVERNANCE2,5922,3712137.2%
ENVIRONMENT OR CLIMATE11131800.0%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE6732356.0%
DIVERSITY, EQUITY, AND INCLUSION7028420.0%
OTHER SOCIAL ISSUES170641066.5%
OTHER6642246.4%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 202410,9119.8%92.9%60.9%
year to 30 June 202510,8907.7%92.6%35.1%
year to 30 June 202611,4657.9%90.4%33.7%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, FRANKLIN FUND ALLOCATOR SERIES voted against management on 19 of the 203 it marked either way (9.4%) in the year to 30 June 2026.

Shareholder proposals it supported

Of 257 proposals from security holders that could be told apart in the filings and on which it cast a vote, FRANKLIN FUND ALLOCATOR SERIES voted for 72 (28.0%). 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 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
Visa Inc.27 Jan 2026Shareholder proposal on shareholder right to act by written consent.
Mastercard Incorporated16 Jun 2026Consideration of a stockholder proposal regarding shareholder right to act by written consent
Eli Lilly and Company4 May 2026Shareholder proposal to adopt a policy and amend the bylaws to require an independent board chair.
Netflix, Inc.4 Jun 2026Stockholder proposal entitled, "Proposal 4 - Shareholder Right to Act by Written Consent,"
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
QUALCOMM Incorporated17 Mar 2026Stockholder proposal entitled "Shareholder Ability to Call for a Special Meeting."
CATERPILLAR INC.10 Jun 2026Shareholder Proposal - Shareholder Right to Act by Written Consent
AT&T INC.14 May 2026Shareholder Right to Act by Written Consent
Wells Fargo & Company28 Apr 2026Shareholder Proposal - Govern by Majority Vote.
ServiceNow, Inc.21 May 2026Shareholder proposal regarding shareholder right to act by written consent.
The Goldman Sachs Group, Inc.29 Apr 2026Shareholder Proposal Regarding Lobbying Disclosure
The Goldman Sachs Group, Inc.29 Apr 2026Shareholder Proposal Regarding Special Shareholder Meeting Thresholds
HONEYWELL INTERNATIONAL INC.22 May 2026Shareowner Proposal - Shareholder Right to Act by Written Consent.
Comcast Corporation10 Jun 2026Adopt policy to have an independent chair
PALANTIR TECHNOLOGIES INC.3 Jun 2026Stockholder proposal entitled "Political Spending Disclosure,"
Micron Technology, Inc.15 Jan 2026Reduce Ownership Threshold for Shareholders to Call Special Meeting
Lam Research Corporation4 Nov 2025Stockholder proposal titled "Realistic Shareholder Ability to Call for a Special Shareholder Meeting,"
CVS Health Corporation14 May 2026Stockholder Proposal for Reducing the Threshold for Our Stockholder Right to Act By Written Consent.
Booking Holdings Inc.2 Jun 2026Non-binding stockholder vote on a proposal to avoid brand damage due to corporate political spending.
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 dual class capital structure.
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.
PayPal Holdings, Inc.19 May 2026Stockholder Proposal - Reduce Threshold to Call Special Meetings of Stockholders.
The Sherwin-Williams Company22 Apr 2026Shareholder Proposal Regarding Shareholder Ability to Call a Special Meeting
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
IDEXX Laboratories, Inc.12 May 2026Shareholder Proposal to Give Shareholders the Ability to Call for a Special Shareholder Meeting (Proposal...
Cintas Corporation28 Oct 2025A shareholder proposal regarding support for shareholder ability to call for a special shareholder meeting.
Autodesk, Inc.17 Jun 2026Stockholder proposal requesting amendment to stockholder special meeting right.
Equinix, Inc.13 May 2026Consideration and vote upon a stockholder proposal, if properly presented at the Annual Meeting, related...
HCA Healthcare, Inc.23 Apr 2026Stockholder proposal, if properly presented at the meeting, regarding stockholders' right to act by...

Shares on loan

FRANKLIN FUND ALLOCATOR SERIES reported no shares on loan for the year to 30 June 2026. 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

4 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
Franklin International Core Equity (IU) Fund3,4774.1%not reported20.0%
Franklin Emerging Market Core Equity (IU) Fund3,23512.9%not reported58.6%
Franklin U.S. Core Equity (IU) Fund2,5716.9%90.1%26.3%
Franklin Global Allocation Fund2,1828.3%90.8%27.5%

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 FRANKLIN FUND ALLOCATOR SERIES vote on executive pay?

In the year to 30 June 2026 FRANKLIN FUND ALLOCATOR SERIES reported 271 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 245 were for (90.4%), 26 against and 0 abstentions. Counting one item per company meeting, it voted against management on 19 of the 203 say-on-pay items it marked either way.

How often does FRANKLIN FUND ALLOCATOR SERIES vote against management?

7.9% of the time in the year to 30 June 2026: 880 of the 11,109 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 FRANKLIN FUND ALLOCATOR SERIES support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 80 votes on proposals from security holders in the year to 30 June 2026 and voted for 0 of them (0.0%). Across every category it voted for 33.7% 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 FRANKLIN FUND ALLOCATOR SERIES (filer no. 1022804), 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.