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Form N-PX · fund registrantSEC filer no. 1023391

FMI FUNDS INC

fund voting report

Vote records reported
2,481year to 30 June 2026
Against management
4.0%88 of 2,188 marked votes
Say-on-pay support
61.5%for, of for + against + abstain
Shareholder-proposal support
36.4%for, of for + against + abstain
95.2% for4.5% against0.3% other4.0% against management2,206 votes

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

FMI FUNDS INC reported 2,481 vote records for the year to 30 June 2026. It marked 4.0% of its votes as cast against management (88 of 2,188), 2.2 percentage points below the median fund registrant, which was 6.2%.

Weighted by the number of shares voted, the against-management share is 1.3%. 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 61.5% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 36.4% of the proposals put forward by security holders (the median fund registrant: 27.5%).

By category, votes against management were most frequent in SECTION 14A SAY-ON-PAY VOTES (37.1% of 140), COMPENSATION (14.6% of 89) and CORPORATE GOVERNANCE (10.3% of 232).

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 share4.0%6.2%10.6%
Say-on-pay support rate61.5%91.6%86.0%
Shareholder-proposal support rate36.4%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%

Of the 2,481 vote records in this filing, 275 carry something the form does not expect: a missing vote source or category, a record with no vote line, a meeting date that cannot be read, or a security identifier this site could not use. They are counted as filed. What is checked

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 ELECTIONS1,1141,11130.3%
SECTION 14A SAY-ON-PAY VOTES141835237.1%
AUDIT-RELATED16216200.0%
SHAREHOLDER RIGHTS AND DEFENSES6600.0%
EXTRAORDINARY TRANSACTIONS3300.0%
CAPITAL STRUCTURE33833441.2%
COMPENSATION90751514.6%
CORPORATE GOVERNANCE2362162010.3%
ENVIRONMENT OR CLIMATE3030.0%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE6060.0%
DIVERSITY, EQUITY, AND INCLUSION2020.0%
OTHER SOCIAL ISSUES302370.0%
OTHER13913541.5%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 20242,0634.4%69.6%4.3%
year to 30 June 20252,5375.1%66.4%28.6%
year to 30 June 20262,4814.0%61.5%36.4%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, FMI FUNDS INC voted against management on 29 of the 72 it marked either way (40.3%) in the year to 30 June 2026.

A further 2 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 17 proposals from security holders that could be told apart in the filings and on which it cast a vote, FMI FUNDS INC voted for 7 (41.2%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.

CompanyMeetingProposal
UnitedHealth Group Incorporated1 Jun 2026If properly presented at the 2026 Annual Meeting of Shareholders, the shareholder proposal requesting the...
Sysco Corporation14 Nov 2025Adopt Mandatory Policy Separating the Roles of CEO and Board Chair
Quest Diagnostics Incorporated20 May 2026Stockholder proposal regarding an independent board chairman
Avery Dennison Corporation30 Apr 2026Require Independent Board Chair
CDW Corporation21 May 2026To consider and act upon the stockholder proposal, if properly presented at the meeting, regarding...
BJ's Wholesale Club Holdings, Inc.18 Jun 2026Vote on a shareholder proposal regarding adopting a majority voting standard
Henry Schein, Inc.21 May 2026Proposal to approve, by non-binding vote, a shareholder proposal to Govern by Majority Vote.

Shares on loan

FMI FUNDS INC 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

5 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
International Fund II - Currency Unhedged6302.2%76.0%not reported
International Fund6302.2%76.0%not reported
FMI Global Fund5804.8%54.8%44.4%
Large Cap Fund3617.1%40.0%45.5%
Common Stock Fund2806.1%62.1%33.3%

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 FMI FUNDS INC vote on executive pay?

In the year to 30 June 2026 FMI FUNDS INC reported 135 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 83 were for (61.5%), 52 against and 0 abstentions. Counting one item per company meeting, it voted against management on 29 of the 72 say-on-pay items it marked either way. A further 2 say-on-pay items were reported without a management mark and are not counted in that figure.

How often does FMI FUNDS INC vote against management?

4.0% of the time in the year to 30 June 2026: 88 of the 2,188 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 FMI FUNDS INC support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 3 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 36.4% 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 FMI FUNDS INC (filer no. 1023391), 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.