Vote Scores

Home / Franklin Templeton / PUTNAM VARIABLE TRUST

Form N-PX · fund registrantSEC filer no. 822671

PUTNAM VARIABLE TRUST

fund voting report, part of Franklin Templeton

Vote records reported
23,812year to 30 June 2026
Against management
7.2%1,622 of 22,637 marked votes
Say-on-pay support
93.0%for, of for + against + abstain
Shareholder-proposal support
11.7%for, of for + against + abstain
88.8% for9.1% against2.1% other7.2% against management22,705 votes

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

In its Form N-PX for the year to 30 June 2026, PUTNAM VARIABLE TRUST listed 23,812 vote records. Votes against management made up 7.2% of those marked either way (1,622 of 22,637); the median fund registrant stood at 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 93.0% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 11.7% 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 87), COMPENSATION (15.1% of 1,340) and CORPORATE GOVERNANCE (12.3% of 1,993).

It reported 7.4 million shares out on loan at record dates, 0.51% 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 share7.2%6.2%10.6%
Say-on-pay support rate93.0%91.6%86.0%
Shareholder-proposal support rate11.7%27.5%33.9%
Shares on loan, share of shares held0.51%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 ELECTIONS14,35113,2307407.6%
SECTION 14A SAY-ON-PAY VOTES1,3891,201897.2%
AUDIT-RELATED1,7221,71480.3%
INVESTMENT COMPANY MATTERS1100.0%
SHAREHOLDER RIGHTS AND DEFENSES87602733.3%
EXTRAORDINARY TRANSACTIONS1089986.5%
CAPITAL STRUCTURE1,3341,320142.4%
COMPENSATION1,3701,12622415.1%
CORPORATE GOVERNANCE2,0161,50947012.3%
ENVIRONMENT OR CLIMATE278212570.7%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE114121020.0%
DIVERSITY, EQUITY, AND INCLUSION148121360.0%
OTHER SOCIAL ISSUES437773600.0%
OTHER3323109.7%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 202421,8969.1%95.9%14.6%
year to 30 June 202521,3676.7%92.5%12.4%
year to 30 June 202623,8127.2%93.0%11.7%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, PUTNAM VARIABLE TRUST voted against management on 51 of the 745 it marked either way (6.8%) in the year to 30 June 2026. The 40 companies with the most reporting filers are listed.

A further 3 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 330 proposals from security holders that could be told apart in the filings and on which it cast a vote, PUTNAM VARIABLE TRUST voted for 46 (13.9%). 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
Alphabet Inc.5 Jun 2026Shareholder proposal regarding equal shareholder voting
AbbVie Inc.8 May 2026Stockholder Proposal - to Adopt a Policy to Require an Independent Chair
Tesla, Inc.6 Nov 2025Declassify the Board of Directors
Tesla, Inc.6 Nov 2025Shareholder proposal: CORPORATE GOVERNANCE
Wells Fargo & Company28 Apr 2026Require Independent Board Chair
Wells Fargo & Company28 Apr 2026Shareholder Proposal - Govern by Majority Vote.
Starbucks Corporation25 Mar 2026Shareholder proposal requesting supermajority shareholder voting requirements be replaced with majority...
LOCKHEED MARTIN CORPORATION12 May 2026Stockholder Proposal Requiring Independent Board Chairman
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding annual vote regarding executive pay.
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding disclosure of voting results by share class.
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding dual class capital structure.
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 2026Require Independent Board Chair
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...
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...
Prudential Financial, Inc.12 May 2026Shareholder proposal regarding an Independent Board Chairman.
WEC Energy Group, Inc.7 May 2026Stockholder proposal to govern by majority vote
Airbnb, Inc.5 Jun 2026Dual-class sunset; and
Datadog, Inc.15 Jun 2026The stockholder proposal, if properly presented at the Annual Meeting, requesting the adoption of a simple...
Eversource Energy6 May 2026Shareholder Proposal Regarding Independent Chair
Edison International23 Apr 2026Shareholder Proposal Regarding Retention of Equity
Workday, Inc.16 Jun 2026To consider and vote upon a stockholder proposal regarding disclosure of voting results based on share class.
Avery Dennison Corporation30 Apr 2026Require Independent Board Chair
CF Industries Holdings, Inc.28 Apr 2026Shareholder proposal regarding shareholder approval requirement for excessive golden parachutes
Zscaler, Inc.12 Jan 2026To vote on a non-binding stockholder proposal requesting the declassification of our board of directors.
Tyson Foods, Inc.5 Feb 2026Shareholder proposal regarding disclosure of voting results based on class of shares.
BJ's Wholesale Club Holdings, Inc.18 Jun 2026Vote on a shareholder proposal regarding a report on greenhouse gas emissions reduction efforts
Universal Health Services, Inc.20 May 2026Disclosure of Voting Results Based on Shareholders' Money at Risk
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.
Eagle Materials Inc.4 Aug 2025Non-binding advisory stockholder proposal requesting the declassification of our Board of Directors.
Mohawk Industries, Inc.21 May 2026Stockholder proposal regarding a majority vote standard.
Bio-Rad Laboratories, Inc.21 Apr 2026Stockholder proposal regarding dual class capital structure.
Exxon Mobil Corporation27 May 2026Proposal requesting Company to modify its Voluntary Retail Voting Program to provide multiple options not...
Calix, Inc.14 May 2026To hold an advisory vote on a stockholder proposal relating to a simple majority vote.
Eni SpA6 May 2026Shareholder proposal: AUDIT-RELATED

Shares on loan

PUTNAM VARIABLE TRUST reported 7.4 million shares on loan at record dates against 1.45 billion shares voted: 0.51% 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

17 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
Putnam VT Global Asset Allocation8,5007.2%93.4%14.0%
Putnam VT U.S. Research2,0276.5%93.5%8.9%
Putnam VT George Putnam Balanced Fund2,0276.5%93.5%8.9%
Putnam VT Core Equity1,7875.4%95.8%8.6%
Putnam VT International Value1,1704.9%not reported0.0%
Putnam VT Small Cap Value1,0957.9%91.1%not reported
Putnam VT Large Cap Value1,0574.5%96.9%8.3%
Putnam VT Emerging Markets Equity1,05217.7%not reported0.0%
Putnam VT International Equity9246.5%not reportednot reported
Putnam VT Sustainable Leaders8615.3%93.8%8.9%
Putnam VT Small Cap Growth8307.8%92.3%not reported
Putnam VT Sustainable Future8279.6%91.4%20.0%
Putnam VT Large Cap Growth6006.0%91.9%11.9%
Putnam VT Focused International Equity5429.2%not reportednot reported
Putnam VT Global Health Care5004.6%92.3%5.6%
Putnam VT High Yield1090.0%not reportednot reported
Putnam VT Diversified Income30.0%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 PUTNAM VARIABLE TRUST vote on executive pay?

In the year to 30 June 2026 PUTNAM VARIABLE TRUST reported 1,291 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 1,201 were for (93.0%), 89 against and 1 abstentions. Counting one item per company meeting, it voted against management on 51 of the 745 say-on-pay items it marked either way. A further 3 say-on-pay items were reported without a management mark and are not counted in that figure.

How often does PUTNAM VARIABLE TRUST vote against management?

7.2% of the time in the year to 30 June 2026: 1,622 of the 22,637 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 PUTNAM VARIABLE TRUST support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 259 votes on proposals from security holders in the year to 30 June 2026 and voted for 2 of them (0.8%). Across every category it voted for 11.7% 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 PUTNAM VARIABLE TRUST (filer no. 822671), 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.