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Form N-PX · fund registrantSEC filer no. 1552947

Two Roads Shared Trust

fund voting report

Vote records reported
8,751year to 30 June 2026
Against management
3.8%386 of 10,211 marked votes
Say-on-pay support
96.9%for, of for + against + abstain
Shareholder-proposal support
39.2%for, of for + against + abstain
93.6% for3.4% against3.0% other3.8% against management10,244 votes

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

For the year to 30 June 2026, Two Roads Shared Trust reported 8,751 vote records on Form N-PX. 386 of the 10,211 votes that were marked for or against management went against management: 3.8%, 2.4 percentage points below the median fund registrant (6.2%).

Weighted by the number of shares voted, the against-management share is 0.7%. 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 96.9% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 39.2% of the proposals put forward by security holders (the median fund registrant: 27.5%).

By category, votes against management were most frequent in HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE (29.5% of 44), SHAREHOLDER RIGHTS AND DEFENSES (19.5% of 128) and OTHER SOCIAL ISSUES (15.2% of 79).

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 share3.8%6.2%10.6%
Say-on-pay support rate96.9%91.6%86.0%
Shareholder-proposal support rate39.2%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 ELECTIONS6,3856,1401123.0%
SECTION 14A SAY-ON-PAY VOTES895847263.1%
AUDIT-RELATED83182230.1%
INVESTMENT COMPANY MATTERS3300.0%
SHAREHOLDER RIGHTS AND DEFENSES128752319.5%
EXTRAORDINARY TRANSACTIONS585613.5%
CAPITAL STRUCTURE41040900.2%
COMPENSATION575526345.1%
CORPORATE GOVERNANCE5064374012.1%
ENVIRONMENT OR CLIMATE714509.9%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE4492629.5%
DIVERSITY, EQUITY, AND INCLUSION173617.6%
OTHER SOCIAL ISSUES79342215.2%
OTHER242222104.6%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 202410,1432.7%97.8%7.3%
year to 30 June 20257,7803.6%95.3%30.5%
year to 30 June 20268,7513.8%96.9%39.2%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, Two Roads Shared Trust voted against management on 20 of the 417 it marked either way (4.8%) in the year to 30 June 2026.

A further 1 say-on-pay item was reported without a management mark and are left out of both sides of that fraction.

Shareholder proposals it supported

Of 121 proposals from security holders that could be told apart in the filings and on which it cast a vote, Two Roads Shared Trust voted for 38 (31.4%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.

CompanyMeetingProposal
JPMorgan Chase & Co.19 May 2026Independent board chairman
Eli Lilly and Company4 May 2026Shareholder proposal to adopt a policy and amend the bylaws to require an independent board chair.
UnitedHealth Group Incorporated1 Jun 2026If properly presented at the 2026 Annual Meeting of Shareholders, the shareholder proposal requesting the...
The Coca-Cola Company29 Apr 2026Vote on a shareowner proposal requesting a report on the Company's plans to increase sustainability disclosure
Advanced Micro Devices, Inc.13 May 2026Stockholder proposal requesting changes to the stockholder right to call a special meeting.
AT&T INC.14 May 2026EEO-1 Report Disclosure Policy
Micron Technology, Inc.15 Jan 2026Reduce Ownership Threshold for Shareholders to Call Special Meeting
Mondelez International, Inc.20 May 2026Shareholder proposal requesting adoption of an independent board chairman policy
Colgate-Palmolive Company8 May 2026Stockholder proposal entitled "Independent Board Chairman."
THE SOUTHERN COMPANY13 May 2026Stockholder proposal regarding independent board chairman
Zoetis Inc.20 May 2026Shareholder proposal to permit shareholder action by written consent.
The Cigna Group22 Apr 2026Shareholder Proposal - Shareholder Right to Act by Written Consent
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
Equinix, Inc.13 May 2026Consideration and vote upon a stockholder proposal, if properly presented at the Annual Meeting, related...
Fastenal Company23 Apr 2026Shareholder proposal relating to an EEO-1 reporting disclosure policy
AppLovin Corporation3 Jun 2026Stockholder proposal regarding disclosure of voting results by class of shares
eBay Inc.17 Jun 2026Special stockholder meeting threshold
Dollar General Corporation28 May 2026To vote on a shareholder proposal asking the Board to take the steps necessary to reduce the minimum...
Dollar General Corporation28 May 2026To vote on a shareholder proposal asking the Board to report on the feasibility of adopting a...
Dollar General Corporation28 May 2026Shareholder proposal: CORPORATE GOVERNANCE
United Airlines Holdings, Inc.19 May 2026Advisory vote on stockholder proposal entitled "Shareholder Right to Act by Written Consent".
Edison International23 Apr 2026Shareholder Proposal Regarding Retention of Equity
CDW Corporation21 May 2026To consider and act upon the stockholder proposal, if properly presented at the meeting, regarding...
Jabil Inc.22 Jan 2026Vote on a stockholder proposal requesting stockholder right to act by written consent.
Tyson Foods, Inc.5 Feb 2026Shareholder proposal regarding disclosure of voting results based on class of shares.
Tyson Foods, Inc.5 Feb 2026Shareholder proposal regarding report on the anticipated impact of recent changes in US immigration...
Domino's Pizza, Inc.21 Apr 2026Shareholder proposal regarding an independent board chair requirement.
Domino's Pizza, Inc.21 Apr 2026Shareholder proposal: CORPORATE GOVERNANCE
HubSpot, Inc.15 Jun 2026A stockholder proposal to change the Company's Sixth Amended and Restated Bylaws to allow 10% holders of...
Lincoln National Corporation28 May 2026Require Independent Board Chair
Five Below, Inc.16 Jun 2026Shareholder proposal requesting that provisions in the Company's governance documents requiring greater...
Lumen Technologies, Inc.20 May 2026Approval of a shareholder proposal regarding a shareholder right to vote for or against a poison pill.
Levi Strauss & Co.22 Apr 2026Miscellaneous
Eni SpA6 May 2026Shareholder proposal: AUDIT-RELATED

Shares on loan

Two Roads Shared Trust 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

18 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
Affinity World Leaders Equity ETF1,6415.6%86.3%32.8%
Conductor Global Equity Value ETF1,0780.5%100.0%not reported
LeaderSharesTM AlphaFactor(R) US Core Equity ETF1,0350.0%100.0%not reported
Redwood Systematic Macro Trend ("SMarT") Fund7250.0%100.0%not reported
Redwood AlphaFactor Tactical International Fund7150.0%100.0%not reported
Liberty One Spectrum ETF67810.8%79.1%40.5%
Hypatia Women CEO ETF5317.4%not reported40.0%
Hunter Small Cap Value Fund5031.5%100.0%not reported
Liberty One Tactical Income ETF3109.4%90.5%44.4%
LeaderShares(R) AlphaFactor(R) Tactical Focused ETF2960.0%100.0%not reported
Liberty One Defensive Dividend Growth ETF2909.0%94.1%46.2%
Anfield Enhanced Market ETF2504.8%100.0%not reported
Recurrent MLP & Infrastructure Fund2430.0%100.0%0.0%
Anfield U.S. Equity Sector Rotation ETF2375.5%99.4%not reported
LeaderShares(R) Equity Skew ETF1730.0%100.0%not reported
LeaderShares(R) Activist Leaders(R) ETF390.0%not reportednot reported
Redwood Managed Municipal Fund40.0%not reportednot reported
Redwood Managed Volatility Fund30.0%not reportednot reported

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 Two Roads Shared Trust vote on executive pay?

In the year to 30 June 2026 Two Roads Shared Trust reported 873 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 846 were for (96.9%), 26 against and 1 abstentions. Counting one item per company meeting, it voted against management on 20 of the 417 say-on-pay items it marked either way. A further 1 say-on-pay item was reported without a management mark and are not counted in that figure.

How often does Two Roads Shared Trust vote against management?

3.8% of the time in the year to 30 June 2026: 386 of the 10,211 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 Two Roads Shared Trust support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 52 votes on proposals from security holders in the year to 30 June 2026 and voted for 4 of them (7.7%). Across every category it voted for 39.2% 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 Two Roads Shared Trust (filer no. 1552947), 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.