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Form N-PX · institutional managerSEC filer no. 1697619

Union Investment Management GmbH

institutional manager voting report

Vote records reported
1,279year to 30 June 2026
Against management
76.8%982 of 1,279 marked votes
Say-on-pay support
25.0%for, of for + against + abstain
Shareholder-proposal support
not reportednot reported by managers
18.1% for54.3% against27.5% other76.8% against management1,279 votes

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

For the year to 30 June 2026, Union Investment Management GmbH reported 1,279 vote records on Form N-PX. 982 of the 1,279 votes that were marked for or against management went against management: 76.8%, 70.4 percentage points above the median institutional manager (6.4%).

Weighted by the number of shares voted, the against-management share is 45.4%. 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 25.0% 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 (76.8% of 1,279).

It reported 63.5 million shares out on loan at record dates, 3.56% 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 2026This filerMedian institutional managerAll filers pooled
Against-management share76.8%6.4%10.6%
Say-on-pay support rate25.0%91.4%86.0%
Shareholder-proposal support ratenot reported41.1%33.9%
Shares on loan, share of shares held3.56%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 1,279 vote records in this filing, 1,279 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
SECTION 14A SAY-ON-PAY VOTES1,27923269576.8%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 202581072.0%29.0%not reported
year to 30 June 20261,27976.8%25.0%not reported

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, Union Investment Management GmbH voted against management on 421 of the 571 it marked either way (73.7%) in the year to 30 June 2026. The 40 companies with the most reporting filers are listed.

Shareholder proposals it supported

Institutional managers report say-on-pay votes only, so no shareholder proposals appear here.

Shares on loan

Union Investment Management GmbH reported 63.5 million shares on loan at record dates against 1.72 billion shares voted: 3.56% 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.

Questions

How did Union Investment Management GmbH vote on executive pay?

In the year to 30 June 2026 Union Investment Management GmbH reported 927 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 232 were for (25.0%), 695 against and 0 abstentions. Counting one item per company meeting, it voted against management on 421 of the 571 say-on-pay items it marked either way.

How often does Union Investment Management GmbH vote against management?

76.8% of the time in the year to 30 June 2026: 982 of the 1,279 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 Union Investment Management GmbH (filer no. 1697619), 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.