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Form N-PX · fund seriesSEC series no. S000028087

VANGUARD EXPLORER VALUE FUND

A series of VANGUARD SCOTTSDALE FUNDS

Vote records
2,114year to 30 June 2026
Against management
2.7%55 of 2,067 marked votes
Say-on-pay support
97.1%for, of for + against + abstain
Shareholder-proposal support
52.9%for, of for + against + abstain

VANGUARD EXPLORER VALUE FUND is a series of VANGUARD SCOTTSDALE FUNDS. For the year to 30 June 2026 its registrant reported 2,114 vote records for the series; 2.7% of the votes marked for or against management went against management. It voted for 97.1% of say-on-pay items and for 52.9% of proposals from security holders.

Compared with its registrant and family

year to 30 June 2026This seriesIts registrantVanguardMedian fund registrant
Against-management share2.7%17.6%20.1%6.2%
Say-on-pay support rate97.1%95.1%94.1%91.6%
Shareholder-proposal support rate52.9%25.3%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 ELECTIONS1,3601,30491.8%
SECTION 14A SAY-ON-PAY VOTES376340102.7%
AUDIT-RELATED17617300.0%
SHAREHOLDER RIGHTS AND DEFENSES2925227.6%
EXTRAORDINARY TRANSACTIONS8800.0%
CAPITAL STRUCTURE2418517.4%
COMPENSATION726811.4%
CORPORATE GOVERNANCE6552109.7%
DIVERSITY, EQUITY, AND INCLUSION1010.0%
OTHER SOCIAL ISSUES220100.0%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
year to 30 June 20241,8884.5%93.8%38.1%
year to 30 June 20252,0043.3%93.6%40.9%
year to 30 June 20262,1142.7%97.1%52.9%

Questions

How often did VANGUARD EXPLORER VALUE FUND vote against management?

2.7% of the votes its registrant marked for or against management in the year to 30 June 2026 (55 of 2,067).

How did VANGUARD EXPLORER VALUE FUND vote on executive pay?

It voted for 338 of 348 say-on-pay items cast for, against or abstain (97.1%).

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 SCOTTSDALE 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 SCOTTSDALE FUNDS (filer no. 1021882); votes attributed to series S000028087 by the filer. Not verified by the SEC. Filings read through 23 Sep 2026.