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Form N-PX · fund seriesSEC series no. S000032976

VANGUARD EMERGING MARKETS SELECT STOCK FUND

A series of VANGUARD TRUSTEES' EQUITY FUND

Vote records
12,246year to 30 June 2026
Against management
16.9%1,949 of 11,545 marked votes
Say-on-pay support
94.1%for, of for + against + abstain
Shareholder-proposal support
77.6%for, of for + against + abstain

VANGUARD EMERGING MARKETS SELECT STOCK FUND is a series of VANGUARD TRUSTEES' EQUITY FUND. For the year to 30 June 2026 its registrant reported 12,246 vote records for the series; 16.9% of the votes marked for or against management went against management. It voted for 94.1% of say-on-pay items and for 77.6% of proposals from security holders.

Compared with its registrant and family

year to 30 June 2026This seriesIts registrantVanguardMedian fund registrant
Against-management share16.9%15.4%20.1%6.2%
Say-on-pay support rate94.1%95.0%94.1%91.6%
Shareholder-proposal support rate77.6%81.2%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 ELECTIONS3,0782,49524610.0%
SECTION 14A SAY-ON-PAY VOTES343225.9%
AUDIT-RELATED61659653.3%
INVESTMENT COMPANY MATTERS65116.7%
SHAREHOLDER RIGHTS AND DEFENSES148538.5%
EXTRAORDINARY TRANSACTIONS36435951.4%
CAPITAL STRUCTURE2,5412,3931445.7%
COMPENSATION1,11899012311.1%
CORPORATE GOVERNANCE4,5833,1641,39330.6%
ENVIRONMENT OR CLIMATE52220.0%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE1100.0%
DIVERSITY, EQUITY, AND INCLUSION1100.0%
OTHER SOCIAL ISSUES1613218.8%
OTHER341311235.1%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
year to 30 June 20243,86610.9%87.5%87.5%
year to 30 June 20254,03110.1%100.0%90.9%
year to 30 June 202612,24616.9%94.1%77.6%

Questions

How often did VANGUARD EMERGING MARKETS SELECT STOCK FUND vote against management?

16.9% of the votes its registrant marked for or against management in the year to 30 June 2026 (1,949 of 11,545).

How did VANGUARD EMERGING MARKETS SELECT STOCK FUND vote on executive pay?

It voted for 32 of 34 say-on-pay items cast for, against or abstain (94.1%).

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 TRUSTEES' EQUITY FUND, 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 TRUSTEES' EQUITY FUND (filer no. 313850); votes attributed to series S000032976 by the filer. Not verified by the SEC. Filings read through 23 Sep 2026.