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Form N-PX · fund registrantSEC filer no. 742212

NORTHWESTERN MUTUAL SERIES FUND INC

fund voting report

Vote records reported
35,328year to 30 June 2026
Against management
3.9%1,354 of 34,982 marked votes
Say-on-pay support
94.4%for, of for + against + abstain
Shareholder-proposal support
16.2%for, of for + against + abstain
93.2% for5.1% against1.7% other3.9% against management35,076 votes

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

NORTHWESTERN MUTUAL SERIES FUND INC reported 35,328 vote records for the year to 30 June 2026. It marked 3.9% of its votes as cast against management (1,354 of 34,982), 2.4 percentage points below the median fund registrant, which was 6.2%.

Weighted by the number of shares voted, the against-management share is 8.9%. 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 94.4% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 16.2% 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 (29.0% of 155), CORPORATE GOVERNANCE (8.5% of 2,396) and EXTRAORDINARY TRANSACTIONS (8.5% of 212).

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 share3.9%6.2%10.6%
Say-on-pay support rate94.4%91.6%86.0%
Shareholder-proposal support rate16.2%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 ELECTIONS23,17822,4123493.3%
SECTION 14A SAY-ON-PAY VOTES2,7352,4241425.7%
AUDIT-RELATED2,9322,920110.3%
SHAREHOLDER RIGHTS AND DEFENSES1591173929.0%
EXTRAORDINARY TRANSACTIONS212192208.5%
CAPITAL STRUCTURE1,4131,366444.3%
COMPENSATION1,7051,5631377.0%
CORPORATE GOVERNANCE2,4351,8965238.5%
ENVIRONMENT OR CLIMATE299482514.0%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE138331052.2%
DIVERSITY, EQUITY, AND INCLUSION153301230.0%
OTHER SOCIAL ISSUES417823352.2%
OTHER676073.5%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 202435,1284.1%93.8%17.4%
year to 30 June 202534,6283.6%93.2%15.4%
year to 30 June 202635,3283.9%94.4%16.2%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, NORTHWESTERN MUTUAL SERIES FUND INC voted against management on 83 of the 1,611 it marked either way (5.2%) in the year to 30 June 2026. The 40 companies with the most reporting filers are listed.

Shareholder proposals it supported

Of 482 proposals from security holders that could be told apart in the filings and on which it cast a vote, NORTHWESTERN MUTUAL SERIES FUND INC voted for 82 (17.0%). 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
NVIDIA Corporation24 Jun 2026Approval of a non-binding stockholder proposal requesting the replacement of supermajority voting...
Alphabet Inc.5 Jun 2026Shareholder proposal regarding equal shareholder voting
Netflix, Inc.4 Jun 2026Stockholder proposal entitled, "Proposal 4 - Shareholder Right to Act by Written Consent,"
Tesla, Inc.6 Nov 2025Declassify the Board of Directors
Starbucks Corporation25 Mar 2026Shareholder proposal requesting supermajority shareholder voting requirements be replaced with majority...
Starbucks Corporation25 Mar 2026Shareholder proposal requesting adoption of an independent board chair policy
THE BOEING COMPANY17 Apr 2026Action by Written Consent.
Palo Alto Networks, Inc.9 Dec 2025To consider and vote upon a shareholder proposal, if properly presented at the Annual Meeting, regarding...
EXXON MOBIL CORPORATION27 May 2026Require Independent Board Chair
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding annual vote regarding executive pay.
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding dual class capital structure.
PayPal Holdings, Inc.19 May 2026Stockholder Proposal - Reduce Threshold to Call Special Meetings of Stockholders.
FedEx Corporation29 Sep 2025Stockholder proposal regarding independent board chairman.
FORD MOTOR COMPANY14 May 2026A shareholder proposal relating to a request that the Board take steps to implement one vote per share for...
Marvell Technology, Inc.25 Jun 2026To consider and act on one stockholder proposal, entitled "Independent Board Chairman"
Snowflake Inc.29 Jun 2026To consider and vote on, if properly presented at the meeting, a non-binding stockholder proposal...
Yum! Brands, Inc.14 May 2026Shareholder Proposal to Reduce the Percentage of Shares Required to Call a Special Meeting.
Autodesk, Inc.17 Jun 2026Stockholder proposal requesting amendment to stockholder special meeting right.
Airbnb, Inc.5 Jun 2026Dual-class sunset; and
Lennar Corporation8 Apr 2026Shareholder proposal: SHAREHOLDER RIGHTS AND DEFENSES
ON Semiconductor Corporation14 May 2026To vote on a stockholder proposal regarding simple majority voting
lululemon athletica inc.25 Jun 2026Declassify the Board of Directors
Tyler Technologies, Inc.5 May 2026Shareholder Proposal Regarding Political Spending.
BJ's Wholesale Club Holdings, Inc.18 Jun 2026Vote on a shareholder proposal regarding a report on deforestation in the company's own-brand supply chain
BJ's Wholesale Club Holdings, Inc.18 Jun 2026Vote on a shareholder proposal regarding a report on greenhouse gas emissions reduction efforts
Entegris, Inc.6 May 2026Stockholder Proposal: Providing stockholders the right to call special meetings of stockholders.
Norwegian Cruise Line Holdings Ltd.11 Jun 2026A shareholder proposal requesting the declassification of our board of directors
Medpace Holdings, Inc.15 May 2026Stockholder proposal regarding giving shareholders an ability to call for a special shareholder meeting
Universal Health Services, Inc.20 May 2026Disclosure of Voting Results Based on Shareholders' Money at Risk
NVR, Inc.7 May 2026Shareholder proposal to disclose greenhouse gas emissions.
TransUnion12 May 2026Advisory vote on a stockholder proposal requesting a stockholder right to call a special meeting.
Fortune Brands Innovations, Inc.5 May 2026Advisory vote to approve named executive officer compensation
Henry Schein, Inc.21 May 2026Proposal to approve, by non-binding vote, a shareholder proposal to Govern by Majority Vote.
RB Global, Inc.30 Apr 2026Approval of a special resolution, requiring the Company to adopt a policy and amend its governing...
MKS Instruments, Inc.11 May 2026A shareholder proposal to reduce the threshold percentage of shareholders required to call a special...
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.
OGE Energy Corp.14 May 2026Shareholder Proposal Regarding Simple Majority Vote.
The Timken Company8 May 2026Corporate governance
Knight-Swift Transportation Holdings Inc.12 May 2026Vote on a stockholder proposal regarding support for transparency in political spending.

Shares on loan

NORTHWESTERN MUTUAL SERIES FUND 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

20 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
Index 500 Stock Portfolio6,5911.7%96.9%5.3%
Index 600 Stock Portfolio5,6264.6%93.1%57.1%
Index 400 Stock Portfolio4,1163.7%95.7%42.0%
Large Cap Core Stock Portfolio1,9925.0%93.8%25.2%
Small Cap Value Portfolio1,8759.6%93.2%20.0%
Research International Core Portfolio1,7912.6%100.0%25.0%
Equity Income Portfolio1,7402.7%96.3%4.3%
Mid Cap Value Portfolio1,5542.3%97.1%20.6%
International Equity Portfolio1,5162.4%100.0%5.3%
Small Cap Growth Stock Portfolio1,4325.2%93.1%70.0%
Mid Cap Growth Stock Portfolio1,1392.0%95.3%25.0%
Domestic Equity Portfolio1,0644.6%97.0%8.3%
International Growth Portfolio1,0583.6%100.0%16.7%
Emerging Markets Equity Portfolio1,0219.9%not reported57.1%
Growth Stock Portfolio7764.7%100.0%10.8%
Large Cap Blend Portfolio7582.2%96.1%9.3%
Large Company Value Portfolio6974.6%92.9%11.4%
Focused Appreciation Portfolio5013.8%96.7%14.5%
Multi-Sector Bond Portfolio6914.7%not reportednot reported
High yield Bond Portfolio120.0%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 NORTHWESTERN MUTUAL SERIES FUND INC vote on executive pay?

In the year to 30 June 2026 NORTHWESTERN MUTUAL SERIES FUND INC reported 2,566 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 2,423 were for (94.4%), 142 against and 1 abstentions. Counting one item per company meeting, it voted against management on 83 of the 1,611 say-on-pay items it marked either way.

How often does NORTHWESTERN MUTUAL SERIES FUND INC vote against management?

3.9% of the time in the year to 30 June 2026: 1,354 of the 34,982 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 NORTHWESTERN MUTUAL SERIES FUND INC support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 263 votes on proposals from security holders in the year to 30 June 2026 and voted for 12 of them (4.6%). Across every category it voted for 16.2% 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 NORTHWESTERN MUTUAL SERIES FUND INC (filer no. 742212), 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.