Home / Filers / PZENA INVESTMENT MANAGEMENT LLC
PZENA INVESTMENT MANAGEMENT LLC
institutional manager voting report
- Vote records reported
- 180year to 30 June 2026
- Against management
- 6.3%11 of 174 marked votes
- Say-on-pay support
- 93.4%for, of for + against + abstain
- Shareholder-proposal support
- not reportednot reported by managers
foragainstabstain, withhold or otheramber tick: the portion cast against management
PZENA INVESTMENT MANAGEMENT LLC reported 180 vote records for the year to 30 June 2026. It marked 6.3% of its votes as cast against management (11 of 174), close to the median institutional manager, which was 6.4%.
Weighted by the number of shares voted, the against-management share is 0.1%. 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 93.4% of the section 14A say-on-pay items it reported (the median institutional manager: 91.4%).
By category, votes against management were most frequent in SECTION 14A SAY-ON-PAY VOTES (6.3% of 174).
It reported 22.2 million shares out on loan at record dates, 4.80% 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 2,628 institutional managers with at least 25 vote records in the season.
| year to 30 June 2026 | This filer | Median institutional manager | All filers pooled |
|---|---|---|---|
| Against-management share | 6.3% | 6.4% | 10.6% |
| Say-on-pay support rate | 93.4% | 91.4% | 86.0% |
| Shareholder-proposal support rate | not reported | 41.1% | 33.9% |
| Shares on loan, share of shares held | 4.80% | 0.00% | 3.12% |
| Largest families, year to 30 June 2026 | Against management | Say-on-pay support | Shareholder-proposal support |
|---|---|---|---|
| Vanguard | 20.1% | 94.1% | 42.0% |
| BlackRock and iShares | 7.5% | 88.3% | 11.9% |
| Fidelity | 6.0% | 94.7% | 27.6% |
| Dimensional | 16.4% | 78.9% | 57.4% |
| State Street and SPDR | 16.9% | 77.1% | 50.4% |
Of the 180 vote records in this filing, 186 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) | Votes | For | Against | Against management | Split |
|---|---|---|---|---|---|
| SECTION 14A SAY-ON-PAY VOTES | 174 | 156 | 11 | 6.3% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 186 | 3.9% | 96.3% | not reported | |
| year to 30 June 2025 | 182 | 3.9% | 95.9% | not reported | |
| year to 30 June 2026 | 180 | 6.3% | 93.4% | not reported |
Say-on-pay votes against management
Counting one say-on-pay item per company meeting, PZENA INVESTMENT MANAGEMENT LLC voted against management on 10 of the 162 it marked either way (6.2%) in the year to 30 June 2026.
A further 5 say-on-pay items were reported without a management mark and are left out of both sides of that fraction.
- Thermo Fisher Scientific Inc. 20 May 2026
- Adobe Inc. 15 Apr 2026
- The Goldman Sachs Group, Inc. 29 Apr 2026
- T-Mobile US, Inc. 16 Jun 2026
- Hewlett Packard Enterprise Company 1 Apr 2026
- Omnicom Group Inc. 5 May 2026
- Qorvo, Inc. 13 Aug 2025
- Match Group, Inc. 16 Jun 2026
- TPG Inc. 3 Jun 2026
- Steelcase Inc. 5 Dec 2025
Shareholder proposals it supported
Institutional managers report say-on-pay votes only, so no shareholder proposals appear here.
Shares on loan
PZENA INVESTMENT MANAGEMENT LLC reported 22.2 million shares on loan at record dates against 441.1 million shares voted: 4.80% of the two together. Median institutional manager: 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.
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.
- N-PX filed 27 Aug 2026 accession 0001027796-26-000051
- Every N-PX filing by this filer on EDGAR
Questions
How did PZENA INVESTMENT MANAGEMENT LLC vote on executive pay?
In the year to 30 June 2026 PZENA INVESTMENT MANAGEMENT LLC reported 167 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 156 were for (93.4%), 11 against and 0 abstentions. Counting one item per company meeting, it voted against management on 10 of the 162 say-on-pay items it marked either way. A further 5 say-on-pay items were reported without a management mark and are not counted in that figure.
How often does PZENA INVESTMENT MANAGEMENT LLC vote against management?
6.3% of the time in the year to 30 June 2026: 11 of the 174 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.
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 PZENA INVESTMENT MANAGEMENT LLC (filer no. 1027796), 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.