Home / T. Rowe Price / T. Rowe Price U.S. Equity Research Fund, Inc.
T. Rowe Price U.S. Equity Research Fund, Inc.
fund voting report, part of T. Rowe Price
- Vote records reported
- 4,164year to 30 June 2026
- Against management
- 4.2%174 of 4,161 marked votes
- Say-on-pay support
- 96.6%for, of for + against + abstain
- Shareholder-proposal support
- 6.3%for, of for + against + abstain
foragainstabstain, withhold or otheramber tick: the portion cast against management
In its Form N-PX for the year to 30 June 2026, T. Rowe Price U.S. Equity Research Fund, Inc. listed 4,164 vote records. Votes against management made up 4.2% of those marked either way (174 of 4,161); the median fund registrant stood at 6.2%.
Weighted by the number of shares voted, the against-management share is 3.5%. 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 96.6% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 6.3% 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 (23.8% of 21), CORPORATE GOVERNANCE (14.3% of 210) and COMPENSATION (6.1% of 98).
It reported 4.7 million shares out on loan at record dates, 0.32% 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 2026 | This filer | Median fund registrant | All filers pooled |
|---|---|---|---|
| Against-management share | 4.2% | 6.2% | 10.6% |
| Say-on-pay support rate | 96.6% | 91.6% | 86.0% |
| Shareholder-proposal support rate | 6.3% | 27.5% | 33.9% |
| Shares on loan, share of shares held | 0.32% | 0.00% | 3.12% |
| Largest families, year to 30 June 2026 | Against management | Say-on-pay support | Shareholder-proposal support |
|---|---|---|---|
| Vanguard | 20.1% | 94.1% | 42.0% |
| BlackRock and iShares | 7.5% | 88.3% | 11.9% |
| Fidelity | 6.0% | 94.7% | 27.6% |
| Dimensional | 16.4% | 78.9% | 57.4% |
| State Street and SPDR | 16.9% | 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) | Votes | For | Against | Against management | Split |
|---|---|---|---|---|---|
| DIRECTOR ELECTIONS | 3,041 | 2,915 | 54 | 4.1% | |
| SECTION 14A SAY-ON-PAY VOTES | 310 | 283 | 10 | 3.9% | |
| AUDIT-RELATED | 311 | 311 | 0 | 0.0% | |
| SHAREHOLDER RIGHTS AND DEFENSES | 21 | 16 | 5 | 23.8% | |
| EXTRAORDINARY TRANSACTIONS | 13 | 11 | 2 | 15.4% | |
| CAPITAL STRUCTURE | 62 | 62 | 0 | 4.8% | |
| COMPENSATION | 98 | 86 | 11 | 6.1% | |
| CORPORATE GOVERNANCE | 213 | 90 | 114 | 14.3% | |
| ENVIRONMENT OR CLIMATE | 60 | 4 | 56 | 3.3% | |
| HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE | 28 | 1 | 27 | 0.0% | |
| DIVERSITY, EQUITY, AND INCLUSION | 34 | 1 | 33 | 0.0% | |
| OTHER SOCIAL ISSUES | 85 | 3 | 82 | 1.2% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 4,328 | 2.9% | 94.7% | 6.6% | |
| year to 30 June 2025 | 4,102 | 3.7% | 96.2% | 5.0% | |
| year to 30 June 2026 | 4,164 | 4.2% | 96.6% | 6.3% |
Say-on-pay votes against management
Counting one say-on-pay item per company meeting, T. Rowe Price U.S. Equity Research Fund, Inc. voted against management on 9 of the 291 it marked either way (3.1%) in the year to 30 June 2026.
- Adobe Inc. 15 Apr 2026
- FedEx Corporation 29 Sep 2025
- Welltower Inc. 21 May 2026
- Electronic Arts Inc. 14 Aug 2025
- Global Payments Inc. 30 Apr 2026
- Tyson Foods, Inc. 5 Feb 2026
- Las Vegas Sands Corp. 14 May 2026
- Wingstop Inc. 21 May 2026
- TPG Inc. 3 Jun 2026
Shareholder proposals it supported
Of 238 proposals from security holders that could be told apart in the filings and on which it cast a vote, T. Rowe Price U.S. Equity Research Fund, Inc. voted for 15 (6.3%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.
| Company | Meeting | Proposal |
|---|---|---|
| NVIDIA Corporation | 24 Jun 2026 | Approval of a non-binding stockholder proposal requesting the replacement of supermajority voting... |
| Alphabet Inc. | 5 Jun 2026 | Shareholder proposal regarding equal shareholder voting |
| Tesla, Inc. | 6 Nov 2025 | Declassify the Board of Directors |
| Tesla, Inc. | 6 Nov 2025 | Shareholder proposal: CORPORATE GOVERNANCE |
| NextEra Energy, Inc. | 21 May 2026 | Report on Plans to Reduce and Align GHG Emissions with Paris Agreement Goals |
| Lowe's Companies, Inc. | 29 May 2026 | Shareholder Proposal requesting a report describing how the Company could disclose its plastic packaging... |
| PALANTIR TECHNOLOGIES INC. | 3 Jun 2026 | Stockholder proposal entitled "Political Spending Disclosure," |
| Starbucks Corporation | 25 Mar 2026 | Shareholder proposal requesting supermajority shareholder voting requirements be replaced with majority... |
| Palo Alto Networks, Inc. | 9 Dec 2025 | To consider and vote upon a shareholder proposal, if properly presented at the Annual Meeting, regarding... |
| Meta Platforms, Inc. | 27 May 2026 | A shareholder proposal regarding annual vote regarding executive pay. |
| Meta Platforms, Inc. | 27 May 2026 | A shareholder proposal regarding dual class capital structure. |
| Target Corporation | 10 Jun 2026 | Require Independent Board Chair |
| Cintas Corporation | 28 Oct 2025 | A shareholder proposal regarding support for shareholder ability to call for a special shareholder meeting. |
| Airbnb, Inc. | 5 Jun 2026 | Dual-class sunset; and |
| HubSpot, Inc. | 15 Jun 2026 | A stockholder proposal to change the Company's Sixth Amended and Restated Bylaws to allow 10% holders of... |
Shares on loan
T. Rowe Price U.S. Equity Research Fund, Inc. reported 4.7 million shares on loan at record dates against 1.45 billion shares voted: 0.32% 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
1 series reported votes. A vote record can list several series. Series with 500 or more vote records have their own page.
| Series | Vote records | Against management | Say-on-pay support | Shareholder-proposal support |
|---|---|---|---|---|
| T. Rowe Price U.S. Equity Research Fund | 4,164 | 4.2% | 96.9% | 6.3% |
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.
- N-PX filed 28 Aug 2026 accession 0001193125-26-373077
- Every N-PX filing by this filer on EDGAR
Questions
How did T. Rowe Price U.S. Equity Research Fund, Inc. vote on executive pay?
In the year to 30 June 2026 T. Rowe Price U.S. Equity Research Fund, Inc. reported 293 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 283 were for (96.6%), 10 against and 0 abstentions. Counting one item per company meeting, it voted against management on 9 of the 291 say-on-pay items it marked either way.
How often does T. Rowe Price U.S. Equity Research Fund, Inc. vote against management?
4.2% of the time in the year to 30 June 2026: 174 of the 4,161 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 T. Rowe Price U.S. Equity Research Fund, Inc. support shareholder proposals on climate?
In the category ENVIRONMENT OR CLIMATE it reported 58 votes on proposals from security holders in the year to 30 June 2026 and voted for 2 of them (3.4%). Across every category it voted for 6.3% 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 T. Rowe Price U.S. Equity Research Fund, Inc. (filer no. 931151), 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.