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THE VALUE FUND
A series of COMMERCE FUNDS
- Vote records
- 857year to 30 June 2026
- Against management
- 2.9%25 of 857 marked votes
- Say-on-pay support
- 87.3%for, of for + against + abstain
- Shareholder-proposal support
- 13.0%for, of for + against + abstain
THE VALUE FUND is a series of COMMERCE FUNDS. For the year to 30 June 2026 its registrant reported 857 vote records for the series; 2.9% of the votes marked for or against management went against management. It voted for 87.3% of say-on-pay items and for 13.0% of proposals from security holders.
Compared with its registrant
| year to 30 June 2026 | This series | Its registrant | Median fund registrant |
|---|---|---|---|
| Against-management share | 2.9% | 3.6% | 6.2% |
| Say-on-pay support rate | 87.3% | 88.8% | 91.6% |
| Shareholder-proposal support rate | 13.0% | 25.0% | 27.5% |
Votes by category
foragainstabstain, withhold or otheramber tick: the portion cast against management
| Category (as the form names it) | Votes | For | Against | Against management | Split |
|---|---|---|---|---|---|
| DIRECTOR ELECTIONS | 616 | 612 | 4 | 0.5% | |
| SECTION 14A SAY-ON-PAY VOTES | 56 | 48 | 7 | 14.3% | |
| AUDIT-RELATED | 56 | 56 | 0 | 0.0% | |
| SHAREHOLDER RIGHTS AND DEFENSES | 5 | 3 | 2 | 20.0% | |
| EXTRAORDINARY TRANSACTIONS | 1 | 1 | 0 | 0.0% | |
| CAPITAL STRUCTURE | 17 | 17 | 0 | 0.0% | |
| COMPENSATION | 15 | 14 | 1 | 0.0% | |
| CORPORATE GOVERNANCE | 42 | 18 | 24 | 16.7% | |
| ENVIRONMENT OR CLIMATE | 19 | 0 | 19 | 0.0% | |
| HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE | 12 | 1 | 11 | 8.3% | |
| DIVERSITY, EQUITY, AND INCLUSION | 1 | 1 | 0 | 100.0% | |
| OTHER SOCIAL ISSUES | 23 | 4 | 19 | 13.0% | |
| OTHER | 9 | 5 | 4 | 33.3% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support |
|---|---|---|---|---|
| year to 30 June 2024 | 875 | 3.5% | 88.9% | 16.0% |
| year to 30 June 2025 | 861 | 2.3% | 94.5% | 17.1% |
| year to 30 June 2026 | 857 | 2.9% | 87.3% | 13.0% |
Questions
How often did THE VALUE FUND vote against management?
2.9% of the votes its registrant marked for or against management in the year to 30 June 2026 (25 of 857).
How did THE VALUE FUND vote on executive pay?
It voted for 48 of 55 say-on-pay items cast for, against or abstain (87.3%).
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 COMMERCE 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 COMMERCE FUNDS (filer no. 926243); votes attributed to series S000010026 by the filer. Not verified by the SEC. Filings read through 23 Sep 2026.