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Form N-PX · fund registrantSEC filer no. 772129

GMO TRUST

fund voting report

Vote records reported
57,955year to 30 June 2026
Against management
8.3%4,409 of 52,972 marked votes
Say-on-pay support
91.8%for, of for + against + abstain
Shareholder-proposal support
34.6%for, of for + against + abstain
89.0% for8.0% against2.9% other8.3% against management54,128 votes

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

In its Form N-PX for the year to 30 June 2026, GMO TRUST listed 57,955 vote records. Votes against management made up 8.3% of those marked either way (4,409 of 52,972); the median fund registrant stood at 6.2%.

Weighted by the number of shares voted, the against-management share is 8.5%. 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 91.8% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 34.6% 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 (33.3% of 126), OTHER (15.1% of 357) and COMPENSATION (14.2% of 5,338).

It reported 1.02 billion shares out on loan at record dates, 6.49% 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 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 share8.3%6.2%10.6%
Say-on-pay support rate91.8%91.6%86.0%
Shareholder-proposal support rate34.6%27.5%33.9%
Shares on loan, share of shares held6.49%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 57,955 vote records in this filing, 4,263 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 ELECTIONS28,23625,4461,3967.9%
SECTION 14A SAY-ON-PAY VOTES1,3001,1251018.1%
AUDIT-RELATED3,2913,1551343.6%
INVESTMENT COMPANY MATTERS5500.0%
SHAREHOLDER RIGHTS AND DEFENSES153973233.3%
EXTRAORDINARY TRANSACTIONS478444346.3%
CAPITAL STRUCTURE5,7325,2055279.2%
COMPENSATION5,3894,57379414.2%
CORPORATE GOVERNANCE10,5359,5439346.8%
ENVIRONMENT OR CLIMATE4261582666.8%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE203123801.5%
DIVERSITY, EQUITY, AND INCLUSION2321221100.9%
OTHER SOCIAL ISSUES5542872676.5%
OTHER47132311215.1%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 202471,51110.0%91.7%52.9%
year to 30 June 202564,2149.5%90.9%48.3%
year to 30 June 202657,9558.3%91.8%34.6%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, GMO TRUST voted against management on 41 of the 595 it marked either way (6.9%) in the year to 30 June 2026. The 40 companies with the most reporting filers are listed.

A further 25 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 463 proposals from security holders that could be told apart in the filings and on which it cast a vote, GMO TRUST voted for 176 (38.0%). 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 a report on AI data usage oversight
Alphabet Inc.5 Jun 2026Shareholder proposal regarding equal shareholder voting
Visa Inc.27 Jan 2026Shareholder proposal on shareholder right to act by written consent.
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.
Netflix, Inc.4 Jun 2026Stockholder proposal entitled, "Proposal 4 - Shareholder Right to Act by Written Consent,"
Bank of America Corporation4 May 2026Shareholder proposal requesting independent board chair
QUALCOMM Incorporated17 Mar 2026Stockholder proposal entitled "Shareholder Ability to Call for a Special Meeting."
International Business Machines Corporation28 Apr 2026Stockholder Proposal Requesting a Right to Act by Written Consent
CATERPILLAR INC.10 Jun 2026Shareholder Proposal - Shareholder Right to Act by Written Consent
AT&T INC.14 May 2026Shareholder Right to Act by Written Consent
The Goldman Sachs Group, Inc.29 Apr 2026Shareholder Proposal Regarding Lobbying Disclosure
The Goldman Sachs Group, Inc.29 Apr 2026Shareholder Proposal Regarding Special Shareholder Meeting Thresholds
Morgan Stanley14 May 2026Shareholder proposal requesting an independent Board Chairman
HONEYWELL INTERNATIONAL INC.22 May 2026Shareowner Proposal - Shareholder Right to Act by Written Consent.
Comcast Corporation10 Jun 2026Adopt policy to have an independent chair
Deere & Company25 Feb 2026Shareholder proposal on shareholder right to act by written consent
Micron Technology, Inc.15 Jan 2026Reduce Ownership Threshold for Shareholders to Call Special Meeting
Lam Research Corporation4 Nov 2025Stockholder proposal titled "Realistic Shareholder Ability to Call for a Special Shareholder Meeting,"
CVS Health Corporation14 May 2026Stockholder Proposal for Reducing the Threshold for Our Stockholder Right to Act By Written Consent.
Booking Holdings Inc.2 Jun 2026Non-binding stockholder vote on a proposal to avoid brand damage due to corporate political spending.
Boston Scientific Corporation30 Apr 2026Stockholder proposal titled "Give Shareholders the Ability to Call for a Special Shareholder Meeting."
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding annual vote regarding executive pay.
United Parcel Service, Inc.7 May 2026To take steps to reduce the voting power of UPS class A stock from 10 votes per share to one vote per share.
Target Corporation10 Jun 2026Shareholder proposal requesting a report on presence of pesticides in Target's private label brands.
Target Corporation10 Jun 2026Require Independent Board Chair
Zoetis Inc.20 May 2026Shareholder proposal to permit shareholder action by written consent.
PayPal Holdings, Inc.19 May 2026Stockholder Proposal - Reduce Threshold to Call Special Meetings of Stockholders.
Kimberly-Clark Corporation14 May 2026Stockholder Proposal to Require Independent Board Chair
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...
FORD MOTOR COMPANY14 May 2026A shareholder proposal relating to public disclosure by share class of voting results on matters subject...
General Mills, Inc.30 Sep 2025Shareholder Proposal - Disclosure of Regenerative Agriculture Practices Within Supply Chain.
General Mills, Inc.30 Sep 2025Shareholder Proposal - Adopt Policy to Separate the Board Chair and CEO Roles.
Prudential Financial, Inc.12 May 2026Shareholder proposal regarding an Independent Board Chairman.
Delta Air Lines, Inc.18 Jun 2026A shareholder proposal requesting the ability for shareholders to act by written consent.
eBay Inc.17 Jun 2026Special stockholder meeting threshold
CBRE Group, Inc.21 May 2026Stockholder proposal regarding our stockholders' ability to call special stockholder meetings.
The Hartford Insurance Group, Inc.20 May 2026Shareholder proposal that the Company adopt written consent rights for shareholders

Shares on loan

GMO TRUST reported 1.02 billion shares on loan at record dates against 14.73 billion shares voted: 6.49% of the two together. Median fund registrant: 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.

Fund series in this filing

26 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
GMO Implementation Fund14,2987.9%90.8%33.7%
GMO Benchmark-Free Fund12,8968.3%88.5%28.5%
GMO Alternative Allocation Fund7,7166.1%91.1%30.9%
GMO International Equity Fund2,9376.8%not reported26.7%
GMO International Opportunistic Value Fund2,8704.9%not reported13.6%
GMO U.S. Small Cap Value Fund2,5857.8%94.0%62.5%
GMO Emerging Markets Fund2,47515.0%not reported57.1%
GMO U.S. Opportunistic Value Fund2,1985.8%91.2%34.8%
GMO U.S. Equity Fund2,1565.5%92.6%28.4%
GMO Emerging Markets ex-China Fund2,09114.6%not reported57.1%
GMO Resources Fund1,5136.9%100.0%71.0%
GMO Climate Change Fund1,3897.5%97.1%55.3%
GMO Resource Transition Fund9757.7%100.0%64.3%
GMO Quality Fund7625.4%96.9%10.8%
GMO-Usonian Japan Value Creation Fund4173.6%not reportednot reported
GMO Small Cap Quality Fund3658.1%97.5%not reported
GMO Global Asset Allocation Fund7250.0%not reportednot reported
GMO Strategic Opportunities Allocation Fund6450.0%not reportednot reported
GMO Global Equity Allocation Fund4850.0%not reportednot reported
GMO Global Developed Equity Allocation Fund4450.0%not reportednot reported
GMO Benchmark-Free Allocation Fund2450.0%not reportednot reported
GMO Multi-Asset Credit Fund2055.6%not reportednot reported
GMO International Equity Allocation Fund1650.0%not reportednot reported
GMO International Developed Equity Allocation Fund1250.0%not reportednot reported
GMO Multi-Sector Fixed Income Fund850.0%not reportednot reported
GMO Opportunistic Income Fund450.0%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 GMO TRUST vote on executive pay?

In the year to 30 June 2026 GMO TRUST reported 1,226 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 1,125 were for (91.8%), 101 against and 0 abstentions. Counting one item per company meeting, it voted against management on 41 of the 595 say-on-pay items it marked either way. A further 25 say-on-pay items were reported without a management mark and are not counted in that figure.

How often does GMO TRUST vote against management?

8.3% of the time in the year to 30 June 2026: 4,409 of the 52,972 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 GMO TRUST support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 293 votes on proposals from security holders in the year to 30 June 2026 and voted for 27 of them (9.2%). Across every category it voted for 34.6% 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 GMO TRUST (filer no. 772129), 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.