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MDU RESOURCES GROUP INC. 2024-2025 Proxy Voting Records

Compiled from SEC Form N-PX filings and MDU RESOURCES GROUP INC.’s Form 8-K, filed May 15, 2025 (Item 5.07 on EDGAR). Page generated October 18, 2026.

10Reported items
447Asset managers
3,976Fund votes
May 13, 2025Meeting date

Results at a glance

Meeting of May 13, 2025: 10 items on MDU RESOURCES GROUP INC.’s Form 8-K, filed May 15, 2025: 7 elected · 3 approved.

Material dissent

None.

Material dissent: a director nominee under 80% of the votes cast, say-on-pay under 70%, any other item the board put forward under 80%, or a shareholder proposal with more than 50%, on the company’s own Form 8-K tally. How this is decided

Proxy season: 2023-2024 2024-2025 2025-2026

Explore MDU RESOURCES GROUP INC. in the interactive database Compare manager voting policies

Official 2024-2025 meeting results reported by MDU RESOURCES GROUP INC.

These tallies are MDU RESOURCES GROUP INC.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed May 15, 2025 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.

MDU RESOURCES GROUP INC. — official shareholder meeting results, meeting held May 13, 2025
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Support (of votes cast)	Reported outcome	Voting standard
Elect Director: Darrel T. Anderson	157,341,567	2,322,198	316,548	--	24,207,393	99%	Elected	—
Elect Director: Vernon A. Dosch	159,054,288	602,106	323,919	--	24,207,393	99.6%	Elected	—
Elect Director: Marian M. Durkin	158,958,893	698,185	323,235	--	24,207,393	99.5%	Elected	—
Elect Director: Douglas W. Jaeger	159,001,699	649,265	329,349	--	24,207,393	99.5%	Elected	—
Elect Director: Dennis W. Johnson	153,505,942	6,063,862	410,509	--	24,207,393	96%	Elected	—
Elect Director: Nicole A. Kivisto	159,133,329	534,431	312,553	--	24,207,393	99.6%	Elected	—
Elect Director: Priti R. Patel	158,972,840	655,615	351,858	--	24,207,393	99.5%	Elected	—
2. Advisory Vote to Approve Executive Compensation	148,199,129	10,334,399	1,446,785	--	24,207,393	93%	Approved	—
3. Approval of LTIP	152,735,190	5,936,828	1,308,295	--	24,207,393	96%	Approved	—
4. Ratification of Appointment of Independent Registered Public Accounting Firm	181,721,026	1,754,676	712,004	--	--	99.0%	Approved	—

Source: MDU RESOURCES GROUP INC., Form 8-K, filed with the SEC on May 15, 2025 — read the filing on EDGAR.

How asset managers voted at the MDU RESOURCES GROUP INC. 2024-2025 meeting

Each item below shows how the 447 asset managers that disclosed a MDU RESOURCES GROUP INC. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of MDU RESOURCES GROUP INC.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Elect Director: Darrel T. Anderson

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 5 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 157,341,567AGAINST: 2,322,198

Details: description as filed, official tally, votes by 103 asset managers

Description as filed by funds: Elect Seven Directors to the Board to Serve for One-Year Terms: Darrel T. Anderson

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Darrel T. Anderson”): 157,341,567 for, 2,322,198 against, per its Form 8-K filed May 15, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Stockholders elected the seven nominees to the Board for one-year terms expiring at the annual stockholders' meeting to be held in 2026:”
Support: 99% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 103 asset managers below reported 88,758,007 for, 27,710 against, 5,679 abstained, 169,039 not voted.

FOR

FOR: 88,758,007AGAINST: 27,710ABSTAIN: 5,679NOT VOTED: 169,039

Largest asset managers voting on “Elect Seven Directors to the Board to Serve for One-Year Terms: Darrel T. Anderson” at MDU RESOURCES GROUP INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	23,092,774	6	1	For
BlackRock	18,514,158	0	0	For
Dimensional	6,840,740	0	0	For
Bridge Builder Trust	6,274,763	0	0	For
Delaware/Macquarie	3,295,100	0	0	For
American Century	3,202,502	0	0	For
Fidelity	3,120,348	0	0	For
State Street	3,114,823	0	0	For
HENNESSY FUNDS TRUST	2,070,707	0	0	For
Charles Schwab	2,041,076	0	0	For
Allspring	1,703,949	0	0	For
Global X	1,485,929	0	0	For
First Trust	1,179,423	0	0	For
Investment Managers Series Trust III	916,283	0	0	For
Invesco	906,063	0	0	For
MFS	767,983	0	0	For
WisdomTree	702,924	0	0	For
Columbia Threadneedle	569,041	0	0	For
Jackson National	536,849	0	0	For
Neuberger Berman	519,825	0	0	For
NEEDHAM FUNDS INC	461,000	0	0	For
AMERICAN BEACON FUNDS	441,540	0	0	For
Empower	250,516	0	0	For
Manager Directed Portfolios	415,774	0	0	For
TIAA	392,883	0	0	For

Showing the 25 largest of 103 asset managers. See all 103 in the interactive database.

2. Elect Director: Dennis W. Johnson

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 5 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%

FOR: 153,505,942AGAINST: 6,063,862

Details: description as filed, official tally, votes by 103 asset managers

Description as filed by funds: Elect Seven Directors to the Board to Serve for One-Year Terms: Dennis W. Johnson

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Dennis W. Johnson”): 153,505,942 for, 6,063,862 against, per its Form 8-K filed May 15, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Stockholders elected the seven nominees to the Board for one-year terms expiring at the annual stockholders' meeting to be held in 2026:”
Support: 96% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 103 asset managers below reported 87,996,679 for, 789,037 against, 5,679 abstained, 169,039 not voted.

FOR

FOR: 87,996,679AGAINST: 789,037ABSTAIN: 5,679NOT VOTED: 169,039

Largest asset managers voting on “Elect Seven Directors to the Board to Serve for One-Year Terms: Dennis W. Johnson” at MDU RESOURCES GROUP INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	23,092,765	14	1	For
BlackRock	18,514,158	0	0	For
Dimensional	6,840,740	0	0	For
Bridge Builder Trust	5,524,711	750,052	0	Mixed
Delaware/Macquarie	3,295,100	0	0	For
American Century	3,202,502	0	0	For
Fidelity	3,120,348	0	0	For
State Street	3,114,684	139	0	For
HENNESSY FUNDS TRUST	2,070,707	0	0	For
Charles Schwab	2,041,076	0	0	For
Allspring	1,703,949	0	0	For
Global X	1,485,929	0	0	For
First Trust	1,179,423	0	0	For
Investment Managers Series Trust III	916,283	0	0	For
Invesco	906,063	0	0	For
MFS	767,983	0	0	For
WisdomTree	702,924	0	0	For
Columbia Threadneedle	569,041	0	0	For
Jackson National	536,849	0	0	For
Neuberger Berman	519,825	0	0	For
NEEDHAM FUNDS INC	461,000	0	0	For
AMERICAN BEACON FUNDS	441,540	0	0	For
Empower	250,516	0	0	For
Manager Directed Portfolios	415,774	0	0	For
TIAA	392,883	0	0	For

Showing the 25 largest of 103 asset managers. See all 103 in the interactive database.

3. Elect Director: Douglas W. Jaeger

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 5 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%

FOR: 159,001,699AGAINST: 649,265

Details: description as filed, official tally, votes by 103 asset managers

Description as filed by funds: Elect Seven Directors to the Board to Serve for One-Year Terms: Douglas W. Jaeger

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Douglas W. Jaeger”): 159,001,699 for, 649,265 against, per its Form 8-K filed May 15, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Stockholders elected the seven nominees to the Board for one-year terms expiring at the annual stockholders' meeting to be held in 2026:”
Support: 99.5% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 103 asset managers below reported 88,785,715 for, 2 against, 5,679 abstained, 169,039 not voted.

FOR

FOR: 88,785,715AGAINST: 2ABSTAIN: 5,679NOT VOTED: 169,039

Largest asset managers voting on “Elect Seven Directors to the Board to Serve for One-Year Terms: Douglas W. Jaeger” at MDU RESOURCES GROUP INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	23,092,778	2	1	For
BlackRock	18,514,158	0	0	For
Dimensional	6,840,740	0	0	For
Bridge Builder Trust	6,274,763	0	0	For
Delaware/Macquarie	3,295,100	0	0	For
American Century	3,202,502	0	0	For
Fidelity	3,120,348	0	0	For
State Street	3,114,823	0	0	For
HENNESSY FUNDS TRUST	2,070,707	0	0	For
Charles Schwab	2,041,076	0	0	For
Allspring	1,703,949	0	0	For
Global X	1,485,929	0	0	For
First Trust	1,179,423	0	0	For
Investment Managers Series Trust III	916,283	0	0	For
Invesco	906,063	0	0	For
MFS	767,983	0	0	For
WisdomTree	702,924	0	0	For
Columbia Threadneedle	569,041	0	0	For
Jackson National	536,849	0	0	For
Neuberger Berman	519,825	0	0	For
NEEDHAM FUNDS INC	461,000	0	0	For
AMERICAN BEACON FUNDS	441,540	0	0	For
Empower	250,516	0	0	For
Manager Directed Portfolios	415,774	0	0	For
TIAA	392,883	0	0	For

Showing the 25 largest of 103 asset managers. See all 103 in the interactive database.

4. Elect Director: Marian M. Durkin

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 5 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%

FOR: 158,958,893AGAINST: 698,185

Details: description as filed, official tally, votes by 103 asset managers

Description as filed by funds: Elect Seven Directors to the Board to Serve for One-Year Terms: Marian M. Durkin

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Marian M. Durkin”): 158,958,893 for, 698,185 against, per its Form 8-K filed May 15, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Stockholders elected the seven nominees to the Board for one-year terms expiring at the annual stockholders' meeting to be held in 2026:”
Support: 99.5% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 103 asset managers below reported 88,758,011 for, 27,706 against, 5,679 abstained, 169,039 not voted.

FOR

FOR: 88,758,011AGAINST: 27,706ABSTAIN: 5,679NOT VOTED: 169,039

Largest asset managers voting on “Elect Seven Directors to the Board to Serve for One-Year Terms: Marian M. Durkin” at MDU RESOURCES GROUP INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	23,092,778	2	1	For
BlackRock	18,514,158	0	0	For
Dimensional	6,840,740	0	0	For
Bridge Builder Trust	6,274,763	0	0	For
Delaware/Macquarie	3,295,100	0	0	For
American Century	3,202,502	0	0	For
Fidelity	3,120,348	0	0	For
State Street	3,114,823	0	0	For
HENNESSY FUNDS TRUST	2,070,707	0	0	For
Charles Schwab	2,041,076	0	0	For
Allspring	1,703,949	0	0	For
Global X	1,485,929	0	0	For
First Trust	1,179,423	0	0	For
Investment Managers Series Trust III	916,283	0	0	For
Invesco	906,063	0	0	For
MFS	767,983	0	0	For
WisdomTree	702,924	0	0	For
Columbia Threadneedle	569,041	0	0	For
Jackson National	536,849	0	0	For
Neuberger Berman	519,825	0	0	For
NEEDHAM FUNDS INC	461,000	0	0	For
AMERICAN BEACON FUNDS	441,540	0	0	For
Empower	250,516	0	0	For
Manager Directed Portfolios	415,774	0	0	For
TIAA	392,883	0	0	For

Showing the 25 largest of 103 asset managers. See all 103 in the interactive database.

5. Elect Director: Nicole A. Kivisto

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 5 wordings of this item as funds reported it.

99.6% Majority: yes · of votes cast

FOR 99.6%

FOR: 159,133,329AGAINST: 534,431

Details: description as filed, official tally, votes by 103 asset managers

Description as filed by funds: Elect Seven Directors to the Board to Serve for One-Year Terms: Nicole A. Kivisto

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Nicole A. Kivisto”): 159,133,329 for, 534,431 against, per its Form 8-K filed May 15, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Stockholders elected the seven nominees to the Board for one-year terms expiring at the annual stockholders' meeting to be held in 2026:”
Support: 99.6% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 103 asset managers below reported 88,785,715 for, 1 against, 5,679 abstained, 169,039 not voted.

FOR

FOR: 88,785,715AGAINST: 1ABSTAIN: 5,679NOT VOTED: 169,039

Largest asset managers voting on “Elect Seven Directors to the Board to Serve for One-Year Terms: Nicole A. Kivisto” at MDU RESOURCES GROUP INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	23,092,778	1	1	For
BlackRock	18,514,158	0	0	For
Dimensional	6,840,740	0	0	For
Bridge Builder Trust	6,274,763	0	0	For
Delaware/Macquarie	3,295,100	0	0	For
American Century	3,202,502	0	0	For
Fidelity	3,120,348	0	0	For
State Street	3,114,823	0	0	For
HENNESSY FUNDS TRUST	2,070,707	0	0	For
Charles Schwab	2,041,076	0	0	For
Allspring	1,703,949	0	0	For
Global X	1,485,929	0	0	For
First Trust	1,179,423	0	0	For
Investment Managers Series Trust III	916,283	0	0	For
Invesco	906,063	0	0	For
MFS	767,983	0	0	For
WisdomTree	702,924	0	0	For
Columbia Threadneedle	569,041	0	0	For
Jackson National	536,849	0	0	For
Neuberger Berman	519,825	0	0	For
NEEDHAM FUNDS INC	461,000	0	0	For
AMERICAN BEACON FUNDS	441,540	0	0	For
Empower	250,516	0	0	For
Manager Directed Portfolios	415,774	0	0	For
TIAA	392,883	0	0	For

Showing the 25 largest of 103 asset managers. See all 103 in the interactive database.

6. Elect Director: Priti R. Patel

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 5 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%

FOR: 158,972,840AGAINST: 655,615

Details: description as filed, official tally, votes by 103 asset managers

Description as filed by funds: Elect Seven Directors to the Board to Serve for One-Year Terms: Priti R. Patel

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Priti R. Patel”): 158,972,840 for, 655,615 against, per its Form 8-K filed May 15, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Stockholders elected the seven nominees to the Board for one-year terms expiring at the annual stockholders' meeting to be held in 2026:”
Support: 99.5% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 103 asset managers below reported 88,785,715 for, 2 against, 5,679 abstained, 169,039 not voted.

FOR

FOR: 88,785,715AGAINST: 2ABSTAIN: 5,679NOT VOTED: 169,039

Largest asset managers voting on “Elect Seven Directors to the Board to Serve for One-Year Terms: Priti R. Patel” at MDU RESOURCES GROUP INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	23,092,778	2	1	For
BlackRock	18,514,158	0	0	For
Dimensional	6,840,740	0	0	For
Bridge Builder Trust	6,274,763	0	0	For
Delaware/Macquarie	3,295,100	0	0	For
American Century	3,202,502	0	0	For
Fidelity	3,120,348	0	0	For
State Street	3,114,823	0	0	For
HENNESSY FUNDS TRUST	2,070,707	0	0	For
Charles Schwab	2,041,076	0	0	For
Allspring	1,703,949	0	0	For
Global X	1,485,929	0	0	For
First Trust	1,179,423	0	0	For
Investment Managers Series Trust III	916,283	0	0	For
Invesco	906,063	0	0	For
MFS	767,983	0	0	For
WisdomTree	702,924	0	0	For
Columbia Threadneedle	569,041	0	0	For
Jackson National	536,849	0	0	For
Neuberger Berman	519,825	0	0	For
NEEDHAM FUNDS INC	461,000	0	0	For
AMERICAN BEACON FUNDS	441,540	0	0	For
Empower	250,516	0	0	For
Manager Directed Portfolios	415,774	0	0	For
TIAA	392,883	0	0	For

Showing the 25 largest of 103 asset managers. See all 103 in the interactive database.

7. Elect Director: Vernon A. Dosch

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 5 wordings of this item as funds reported it.

99.6% Majority: yes · of votes cast

FOR 99.6%

FOR: 159,054,288AGAINST: 602,106

Details: description as filed, official tally, votes by 103 asset managers

Description as filed by funds: Elect Seven Directors to the Board to Serve for One-Year Terms: Vernon A. Dosch

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Vernon A. Dosch”): 159,054,288 for, 602,106 against, per its Form 8-K filed May 15, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Stockholders elected the seven nominees to the Board for one-year terms expiring at the annual stockholders' meeting to be held in 2026:”
Support: 99.6% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 103 asset managers below reported 88,785,715 for, 1 against, 5,679 abstained, 169,039 not voted.

FOR

FOR: 88,785,715AGAINST: 1ABSTAIN: 5,679NOT VOTED: 169,039

Largest asset managers voting on “Elect Seven Directors to the Board to Serve for One-Year Terms: Vernon A. Dosch” at MDU RESOURCES GROUP INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	23,092,778	1	1	For
BlackRock	18,514,158	0	0	For
Dimensional	6,840,740	0	0	For
Bridge Builder Trust	6,274,763	0	0	For
Delaware/Macquarie	3,295,100	0	0	For
American Century	3,202,502	0	0	For
Fidelity	3,120,348	0	0	For
State Street	3,114,823	0	0	For
HENNESSY FUNDS TRUST	2,070,707	0	0	For
Charles Schwab	2,041,076	0	0	For
Allspring	1,703,949	0	0	For
Global X	1,485,929	0	0	For
First Trust	1,179,423	0	0	For
Investment Managers Series Trust III	916,283	0	0	For
Invesco	906,063	0	0	For
MFS	767,983	0	0	For
WisdomTree	702,924	0	0	For
Columbia Threadneedle	569,041	0	0	For
Jackson National	536,849	0	0	For
Neuberger Berman	519,825	0	0	For
NEEDHAM FUNDS INC	461,000	0	0	For
AMERICAN BEACON FUNDS	441,540	0	0	For
Empower	250,516	0	0	For
Manager Directed Portfolios	415,774	0	0	For
TIAA	392,883	0	0	For

Showing the 25 largest of 103 asset managers. See all 103 in the interactive database.

8. Approve the Amended and Restated Long-Term Performance- Based Incentive Plan.

No official matchCOMPENSATION

Combines 2 wordings of this item as funds reported it.

96% of fund votes cast · no official result

FOR

Details: votes by 102 asset managers

The 102 asset managers below reported 85,399,190 for, 3,321,484 against, 5,681 abstained. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 85,399,190AGAINST: 3,321,484ABSTAIN: 5,681

Largest asset managers voting on “Approve the Amended and Restated Long-Term Performance- Based Incentive Plan.” at MDU RESOURCES GROUP INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	23,092,770	7	3	For
BlackRock	18,514,158	0	0	For
Dimensional	6,840,740	0	0	For
Bridge Builder Trust	6,274,763	0	0	For
Delaware/Macquarie	3,295,100	0	0	For
American Century	0	3,202,502	0	Against
Fidelity	3,120,348	0	0	For
State Street	3,114,823	0	0	For
HENNESSY FUNDS TRUST	2,070,707	0	0	For
Charles Schwab	2,041,076	0	0	For
Allspring	1,703,949	0	0	For
Global X	1,485,929	0	0	For
First Trust	1,179,423	0	0	For
Investment Managers Series Trust III	916,283	0	0	For
Invesco	906,063	0	0	For
MFS	767,983	0	0	For
WisdomTree	702,924	0	0	For
Columbia Threadneedle	569,041	0	0	For
Jackson National	536,849	0	0	For
Neuberger Berman	519,825	0	0	For
NEEDHAM FUNDS INC	461,000	0	0	For
AMERICAN BEACON FUNDS	441,540	0	0	For
Manager Directed Portfolios	415,774	0	0	For
TIAA	392,883	0	0	For
AQR	374,285	0	0	For

Showing the 25 largest of 102 asset managers. See all 102 in the interactive database.

9. 2. Advisory Vote to Approve Executive Compensation

Official result Fund totals may overlapSECTION 14A SAY-ON-PAY VOTESReported outcome: Approved

Combines 12 wordings of this item as funds reported it.

93% Approved · of votes cast

FOR 93%

FOR: 148,199,129AGAINST: 10,334,399

Details: description as filed, official tally, votes by 447 asset managers

Description as filed by funds: Vote, on an Advisory Basis, to Approve the Company's Named Executive Officers' compensation.

MDU RESOURCES GROUP INC.’s own tally for this item (“2. Advisory Vote to Approve Executive Compensation”): 148,199,129 for, 10,334,399 against — passed, per its Form 8-K filed May 15, 2025 (Item 5.07).

Reported outcome: Approved, in the filing’s own words: “Stockholders approved, on an advisory basis, the compensation of the Company's named executive officers, based upon the votes set forth in the table below:”
Support: 93% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice).

Fund voting reports: 103 asset managers voting on “Vote, on an Advisory Basis, to Approve the Company's Named Executive Officers' compensation.” at MDU RESOURCES GROUP INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	23,086,600	6,177	3	For
BlackRock	18,514,158	0	0	For
Dimensional	6,840,740	0	0	For
Bridge Builder Trust	6,274,763	0	0	For
Delaware/Macquarie	3,295,100	0	0	For
American Century	0	3,202,502	0	Against
Fidelity	3,120,348	0	0	For
State Street	3,114,823	0	0	For
HENNESSY FUNDS TRUST	2,070,707	0	0	For
Charles Schwab	2,041,076	0	0	For
Allspring	1,703,949	0	0	For
Global X	1,485,929	0	0	For
First Trust	1,179,423	0	0	For
Investment Managers Series Trust III	916,283	0	0	For
Invesco	0	906,063	0	Against
MFS	767,983	0	0	For
WisdomTree	0	702,924	0	Against
Columbia Threadneedle	569,041	0	0	For
Jackson National	46,486	490,363	0	Mixed
Neuberger Berman	519,825	0	0	For
NEEDHAM FUNDS INC	461,000	0	0	For
AMERICAN BEACON FUNDS	441,540	0	0	For
Empower	250,516	0	0	For
Manager Directed Portfolios	415,774	0	0	For
TIAA	392,883	0	0	For

Fund voting reports, all 103 managers: 83,165,149 for, 5,620,565 against, 5,681 abstained, 169,039 not voted. Showing the 25 largest; see all in the interactive database.

Institutional-manager reports: 372 asset managers voting on “Vote, on an Advisory Basis, to Approve the Company's Named Executive Officers' compensation.” at MDU RESOURCES GROUP INC., 2024-2025
Asset manager	For	Against	Vote
BARROW HANLEY MEWHINNEY & STRAUSS LLC	7,456,316	0	For
State Street	6,020,761	0	For
Corvex Management LP	4,462,537	0	For
BlackRock	4,441,653	3,729	For
MACQUARIE INVESTMENT MANAGEMENT BUSINESS TRUST	3,534,881	0	For
GEODE CAPITAL MANAGEMENT, LLC	3,311,022	0	For
American Century	0	3,226,573	Against
FRONTIER CAPITAL MANAGEMENT CO LLC	1,548,898	1,548,898	Mixed
Pertento Partners LLP	3,075,422	0	For
Charles Schwab	2,186,225	0	For
Allspring	2,039,295	0	For
Invesco	0	2,020,850	Against
PARAMETRIC PORTFOLIO ASSOCIATES LLC	2,009,230	0	For
US BANK NATIONAL ASSOCIATION	1,732,021	0	For
JUPITER ASSET MANAGEMENT LTD	1,379,646	0	For
Northern Trust	1,259,342	0	For
Neuberger Berman	1,200,511	0	For
PRINCIPAL GLOBAL INVESTORS	1,039,921	0	For
MELLON INVESTMENTS Corp	0	1,034,000	Against
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	1,011,487	0	For
Ancora Advisors LLC	930,635	0	For
Dimensional	923,039	0	For
First Pacific Advisors, LP	916,283	0	For
AQR	886,998	0	For
SILVERCREST ASSET MANAGEMENT GROUP LLC	853,933	0	For

Institutional-manager reports, all 372 managers: 70,070,889 for, 9,446,134 against, 51,138 abstained, 2,465 not voted, 1,687 unknown. Showing the 25 largest; see all in the interactive database.

10. 4. Ratification of Appointment of Independent Registered Public Accounting Firm

Official resultAUDIT-RELATEDReported outcome: Approved

Combines 2 wordings of this item as funds reported it.

99.0% Approved · of votes cast

FOR 99.0%

FOR: 181,721,026AGAINST: 1,754,676

Details: description as filed, official tally, votes by 100 asset managers

Description as filed by funds: RATIFY THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS THE COMPANY'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE 2025 FISCAL YEAR.

MDU RESOURCES GROUP INC.’s own tally for this item (“4. Ratification of Appointment of Independent Registered Public Accounting Firm”): 181,721,026 for, 1,754,676 against — passed, per its Form 8-K filed May 15, 2025 (Item 5.07).

Reported outcome: Approved, in the filing’s own words: “Stockholders ratified the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for fiscal year 2025, based upon the votes set forth in the table below:”
Support: 99.0% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 100 asset managers below reported 88,710,737 for, 6,307 against, 5,678 abstained.

FOR

FOR: 88,710,737AGAINST: 6,307ABSTAIN: 5,678

Largest asset managers voting on “RATIFY THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS THE COMPANY'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM” at MDU RESOURCES GROUP INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	23,086,611	6,169	For
BlackRock	18,514,158	0	For
Dimensional	6,840,740	0	For
Bridge Builder Trust	6,274,763	0	For
Delaware/Macquarie	3,295,100	0	For
American Century	3,202,502	0	For
Fidelity	3,120,348	0	For
State Street	3,114,684	139	For
HENNESSY FUNDS TRUST	2,070,707	0	For
Charles Schwab	2,041,076	0	For
Allspring	1,703,949	0	For
Global X	1,485,929	0	For
First Trust	1,179,423	0	For
Investment Managers Series Trust III	916,283	0	For
Invesco	906,063	0	For
MFS	767,983	0	For
WisdomTree	702,924	0	For
Columbia Threadneedle	569,041	0	For
Jackson National	536,849	0	For
Neuberger Berman	519,825	0	For
NEEDHAM FUNDS INC	461,000	0	For
AMERICAN BEACON FUNDS	441,540	0	For
Manager Directed Portfolios	415,774	0	For
TIAA	392,883	0	For
AQR	374,285	0	For

Showing the 25 largest of 100 asset managers. See all 100 in the interactive database.

Largest MDU RESOURCES GROUP INC. shareholders voting in 2024-2025

Ranked separately for each type of Form N-PX report. An institutional manager can report shares that a fund it advises also reports, so the two tables can list the same shares and are never added together. Each is ranked by the shares voted on the item that the most managers of that type reported, shown as a share of the 204,331,170 shares outstanding at the time of that meeting.

Fund voting reports: top MDU RESOURCES GROUP INC. shareholders by shares voted on “Vote, on an Advisory Basis, to Approve the Company's Named Executive Officers' compensation.”, 2024-2025
#	Asset manager	% of shares outstanding
1	Vanguard	11.30%
2	BlackRock	9.06%
3	Dimensional	3.35%
4	Bridge Builder Trust	3.07%
5	Delaware/Macquarie	1.61%
6	American Century	1.57%
7	Fidelity	1.53%
8	State Street	1.52%
9	HENNESSY FUNDS TRUST	1.01%
10	Charles Schwab	1.00%

Institutional-manager reports: top MDU RESOURCES GROUP INC. shareholders by shares voted on “Vote, on an Advisory Basis, to Approve the Company's Named Executive Officers' compensation.”, 2024-2025
#	Asset manager	% of shares outstanding
1	BARROW HANLEY MEWHINNEY & STRAUSS LLC	3.65%
2	State Street	2.95%
3	Corvex Management LP	2.18%
4	BlackRock	2.18%
5	MACQUARIE INVESTMENT MANAGEMENT BUSINESS TRUST	1.73%
6	GEODE CAPITAL MANAGEMENT, LLC	1.62%
7	American Century	1.58%
8	FRONTIER CAPITAL MANAGEMENT CO LLC	1.52%
9	Pertento Partners LLP	1.51%
10	Charles Schwab	1.07%

Reported MDU RESOURCES GROUP INC. holdings and ownership

As disclosed to the SEC in Form 13F (quarter-end holdings of 30 large managers), Schedules 13D and 13G (beneficial ownership above 5%) and the company’s own proxy statement (DEF 14A). Each row names its form.

MDU RESOURCES GROUP INC. holdings and ownership disclosed for the 2024-2025 proxy season
Holder	% outstanding	Disclosure
BlackRock	12.62%	13F
Vanguard Group	11.45%	13F
BARROW HANLEY MEWHINNEY & STRAUSS LLC	6.73%	13G
Vanguard Portfolio Management	6.14%	13G
Dimensional Fund Advisors	4.14%	13F
State Street	3.24%	13F
Morgan Stanley	2.21%	13F
Invesco	1.53%	13F
Norges Bank	1.18%	13F
Charles Schwab	1.14%	13F

Percentages above are of 204,331,170 shares outstanding, as reported by MDU RESOURCES GROUP INC. on its Form 10-Q dated May 1, 2025 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 meeting, not today’s. Each holding is as of its own filing, which may be dated before or after the meeting.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered funds disclose how they voted every proxy and institutional managers disclose their votes on executive pay (say-on-pay, say-on-frequency and golden parachutes), and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from MDU RESOURCES GROUP INC.’s 10-Q dated May 1, 2025. This page is a static snapshot rebuilt weekly on October 18, 2026; a live search always shows the current data.

At MDU RESOURCES GROUP INC.'s shareholder meeting held May 13, 2025, in the 2024-2025 proxy season, 447 asset managers reported how they voted in their SEC Form N-PX filings, covering 3,976 separate fund positions. Their filings are grouped here into 10 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. On the most widely held item on that ballot — Vote, on an Advisory Basis, to Approve the Company's Named Executive Officers' compensation. — MDU RESOURCES GROUP INC.'s filing reports the proposal as approved, with 93% support of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). Source: MDU RESOURCES GROUP INC.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on May 15, 2025.

MDU RESOURCES GROUP INC. proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.

Download data (CSV): ballot items · votes by manager · column guide.