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Form N-PX · fund seriesSEC series no. S000004398

DIVERSIFIED VALUE PORTFOLIO

A series of VANGUARD VARIABLE INSURANCE FUNDS

Vote records
1,769year to 30 June 2026
Against management
2.3%40 of 1,764 marked votes
Say-on-pay support
96.3%for, of for + against + abstain
Shareholder-proposal support
11.6%for, of for + against + abstain

DIVERSIFIED VALUE PORTFOLIO is a series of VANGUARD VARIABLE INSURANCE FUNDS. For the year to 30 June 2026 its registrant reported 1,769 vote records for the series; 2.3% of the votes marked for or against management went against management. It voted for 96.3% of say-on-pay items and for 11.6% of proposals from security holders.

Compared with its registrant and family

year to 30 June 2026This seriesIts registrantVanguardMedian fund registrant
Against-management share2.3%2.4%20.1%6.2%
Say-on-pay support rate96.3%96.7%94.1%91.6%
Shareholder-proposal support rate11.6%11.2%42.0%27.5%

Votes by category

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

Category (as the form names it)VotesForAgainstAgainst managementSplit
DIRECTOR ELECTIONS1,1751,16131.2%
SECTION 14A SAY-ON-PAY VOTES22620883.5%
AUDIT-RELATED11811800.0%
SHAREHOLDER RIGHTS AND DEFENSES116518.2%
EXTRAORDINARY TRANSACTIONS3210.0%
CAPITAL STRUCTURE424114.8%
COMPENSATION545047.4%
CORPORATE GOVERNANCE80394115.0%
ENVIRONMENT OR CLIMATE281270.0%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE8170.0%
DIVERSITY, EQUITY, AND INCLUSION161150.0%
OTHER SOCIAL ISSUES494450.0%
OTHER1100.0%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
year to 30 June 20242,2758.0%88.6%36.5%
year to 30 June 20252,1455.2%90.2%28.9%
year to 30 June 20261,7692.3%96.3%11.6%

Questions

How often did DIVERSIFIED VALUE PORTFOLIO vote against management?

2.3% of the votes its registrant marked for or against management in the year to 30 June 2026 (40 of 1,764).

How did DIVERSIFIED VALUE PORTFOLIO vote on executive pay?

It voted for 208 of 216 say-on-pay items cast for, against or abstain (96.3%).

Is this the result of the meetings?

No. Form N-PX shows how the fund voted the shares it held. It does not show how other shareholders voted or what the outcome was.

Where does the data come from?

From the Form N-PX filed by VANGUARD VARIABLE INSURANCE FUNDS, which lists the series that cast each vote. The SEC does not verify the contents. Data runs through 23 Sep 2026.

Provenance: SEC EDGAR, Form N-PX filed by VANGUARD VARIABLE INSURANCE FUNDS (filer no. 857490); votes attributed to series S000004398 by the filer. Not verified by the SEC. Filings read through 23 Sep 2026.