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Form N-PX · fund seriesSEC series no. S000075775

VANGUARD BAILLIE GIFFORD GLOBAL POSITIVE IMPACT STOCK FUND

A series of VANGUARD VALLEY FORGE FUNDS

Vote records
500year to 30 June 2026
Against management
5.0%25 of 500 marked votes
Say-on-pay support
93.5%for, of for + against + abstain
Shareholder-proposal support
7.7%for, of for + against + abstain

VANGUARD BAILLIE GIFFORD GLOBAL POSITIVE IMPACT STOCK FUND is a series of VANGUARD VALLEY FORGE FUNDS. For the year to 30 June 2026 its registrant reported 500 vote records for the series; 5.0% of the votes marked for or against management went against management. It voted for 93.5% of say-on-pay items and for 7.7% of proposals from security holders.

Compared with its registrant and family

year to 30 June 2026This seriesIts registrantVanguardMedian fund registrant
Against-management share5.0%5.0%20.1%6.2%
Say-on-pay support rate93.5%93.5%94.1%91.6%
Shareholder-proposal support rate7.7%7.7%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 ELECTIONS19218921.6%
SECTION 14A SAY-ON-PAY VOTES625846.5%
AUDIT-RELATED4133619.5%
EXTRAORDINARY TRANSACTIONS5500.0%
CAPITAL STRUCTURE726845.6%
COMPENSATION242228.3%
CORPORATE GOVERNANCE625843.2%
ENVIRONMENT OR CLIMATE2110.0%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE2020.0%
OTHER SOCIAL ISSUES8170.0%
OTHER343128.8%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
year to 30 June 20265005.0%93.5%7.7%

Questions

How often did VANGUARD BAILLIE GIFFORD GLOBAL POSITIVE IMPACT STOCK FUND vote against management?

5.0% of the votes its registrant marked for or against management in the year to 30 June 2026 (25 of 500).

How did VANGUARD BAILLIE GIFFORD GLOBAL POSITIVE IMPACT STOCK FUND vote on executive pay?

It voted for 58 of 62 say-on-pay items cast for, against or abstain (93.5%).

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 VALLEY FORGE 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 VALLEY FORGE FUNDS (filer no. 889519); votes attributed to series S000075775 by the filer. Not verified by the SEC. Filings read through 23 Sep 2026.