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SAP SE 2024-2025 Proxy Voting Records

Compiled from SEC Form N-PX filings. Page generated October 18, 2026.

  • 40Reported items
  • 509Asset managers
  • 7,875Fund votes
  • May 13, 2025Meeting date

Results at a glance

No official results are on file for this meeting: no Form 8-K tally (Item 5.07) from SAP SE has been matched to it. The figures below are the funds’ own votes from Form N-PX. They are not the meeting result, so they are not used to judge dissent.

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 SAP SE in the interactive database Compare manager voting policies

How asset managers voted at the SAP SE 2024-2025 meeting

Each item below shows how the 509 asset managers that disclosed a SAP SE 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 SAP SE’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. Approve Charter Amendment

No official resultsSHAREHOLDER RIGHTS AND DEFENSES

100% of fund votes cast · no official result

FOR
Details: votes by 2 asset managers

The 2 asset managers below reported 7,609 for. 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: 7,609
Largest asset managers voting on “Approve Charter Amendment” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Williamson Legacy Group, LLC7,6090 00For
ESL Trust Services, LLC00 00--

2. Approve Creation of EUR 250 Million Pool of Authorized Capital I with Preemptive Rights

No official resultsCAPITAL STRUCTURE

99.5% of fund votes cast · no official result

FOR
Details: votes by 121 asset managers

The 121 asset managers below reported 139,436,455 for, 656,593 against. 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: 139,436,455AGAINST: 656,593
Largest asset managers voting on “Approve Creation of EUR 250 Million Pool of Authorized Capital I with Preemptive Rights” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard32,171,73969,890 00For
Fidelity24,931,2140 00For
Capital Group18,957,7640 00For
EUPAC FUND11,517,5590 00For
MFS7,902,1610 00For
Goldman Sachs5,511,1170 00For
TIAA4,875,1640 00For
T. Rowe Price3,862,9880 00For
State Street2,844,7080 00For
Invesco2,321,9360 00For
Waddell & Reed1,403,2600 00For
AMCAP FUND1,230,6450 00For
INVESTMENT CO OF AMERICA1,211,6270 00For
GMO1,194,1510 00For
Dimensional1,042,2100 00For
Equitable983,0400 00For
AllianceBernstein961,6000 00For
Morgan Stanley871,44814,000 00For
Legg Mason867,7190 00For
Columbia Threadneedle862,2050 00For
WisdomTree765,1680 00For
NEW ECONOMY FUND622,1210 00For
TEMPLETON GROWTH FUND INC620,3190 00For
American Century613,2860 00For
BNY Mellon48,340563,143 00Mixed

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

3. Approve Creation of EUR 250 Million Pool of Authorized Capital II with or without Exclusion of Preemptive Rights

No official resultsCAPITAL STRUCTURE

97% of fund votes cast · no official result

FOR
Details: votes by 121 asset managers

The 121 asset managers below reported 135,457,183 for, 4,635,865 against. 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: 135,457,183AGAINST: 4,635,865
Largest asset managers voting on “Approve Creation of EUR 250 Million Pool of Authorized Capital II with or without Exclusion of Preemptive Righ” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard32,171,73969,890 00For
Fidelity24,849,11682,098 00For
Capital Group18,957,7640 00For
EUPAC FUND11,517,5590 00For
MFS7,902,1610 00For
Goldman Sachs5,511,1170 00For
TIAA4,875,1640 00For
T. Rowe Price2,3333,860,655 00Against
State Street2,844,7080 00For
Invesco2,321,9360 00For
Waddell & Reed1,403,2600 00For
AMCAP FUND1,230,6450 00For
INVESTMENT CO OF AMERICA1,211,6270 00For
GMO1,194,1510 00For
Dimensional1,042,2100 00For
Equitable983,0400 00For
AllianceBernstein961,6000 00For
Morgan Stanley871,44814,000 00For
Legg Mason867,7190 00For
Columbia Threadneedle862,2050 00For
WisdomTree765,1680 00For
NEW ECONOMY FUND622,1210 00For
TEMPLETON GROWTH FUND INC620,3190 00For
American Century613,2860 00For
BNY Mellon48,340563,143 00Mixed

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

4. RESOLUTION ON THE REVOCATION OF THE EXISTING AUTHORIZED CAPITAL I AND THE CREATION OF NEW AUTHORIZED CAPITAL I FOR THE…

Combines 4 wordings of this item as funds reported it.

99.8% of fund votes cast · no official result

FOR
Details: description as filed, votes by 62 asset managers

Description as filed by funds: RESOLUTION ON THE REVOCATION OF THE EXISTING AUTHORIZED CAPITAL I AND THE CREATION OF NEW AUTHORIZED CAPITAL I FOR THE ISSUANCE OF SHARES AGAINST CONTRIBUTIONS IN CASH, WITH THE OPTION TO EXCLUDE THE SHAREHOLDERS' SUBSCRIPTION RIGHTS (IN RESPECT OF FRACTIONAL SHARES ONLY)

The 62 asset managers below reported 14,765,987 for, 16,371 against, 8,259 abstained, 4,000 not voted. 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: 14,765,987AGAINST: 16,371ABSTAIN: 8,259NOT VOTED: 4,000
Largest asset managers voting on “RESOLUTION ON THE REVOCATION OF THE EXISTING AUTHORIZED CAPITAL I AND THE CREATION OF NEW AUTHORIZED CAPITAL I” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Six Circles Trust4,476,3180 00For
Investment Managers Series Trust2,715,4630 00For
JPMorgan1,519,9900 00For
BlackRock963,4150 00For
Jackson National904,7330 00For
John Hancock714,0150 00For
HARDING LOEVNER FUNDS INC622,0250 00For
Bridge Builder Trust618,6230 00For
SEQUOIA FUND INC575,1720 00For
BAILLIE GIFFORD FUNDS188,7560 00For
BBH Trust174,4050 00For
Calamos168,0330 00For
MARSICO INVESTMENT FUND129,0570 00For
Brighthouse120,1730 00For
Harbor ETF Trust98,4980 00For
BUFFALO FUNDS87,3910 00For
Natixis82,5010 00For
UNITED CAPITAL FINANCIAL ADVISORS, LLC80,7830 00For
Allianz77,9420 00For
TRUST FOR PROFESSIONAL MANAGERS66,8770 00For
RBC FUNDS TRUST56,9080 00For
Guardian Variable Products Trust40,8810 00For
PFM Multi-Manager Series Trust38,0800 00For
CARILLON SERIES TRUST37,4010 00For
OPTIMUM FUND TRUST33,6710 00For

Showing the 25 largest of 62 asset managers. See all 62 in the interactive database.

5. RESOLUTION ON THE REVOCATION OF THE EXISTING AUTHORIZED CAPITAL II AND THE CREATION OF NEW AUTHORIZED CAPITAL II FOR…

Combines 3 wordings of this item as funds reported it.

99.6% of fund votes cast · no official result

FOR
Details: description as filed, votes by 62 asset managers

Description as filed by funds: RESOLUTION ON THE REVOCATION OF THE EXISTING AUTHORIZED CAPITAL II AND THE CREATION OF NEW AUTHORIZED CAPITAL II FOR THE ISSUANCE OF SHARES AGAINST CONTRIBUTIONS IN CASH OR IN KIND, WITH THE OPTION TO EXCLUDE THE SHAREHOLDERS' SUBSCRIPTION RIGHTS, AND ON THE CORRESPONDING AMENDMENT OF SECTION 4 (6) OF THE ARTICLES OF INCORPORATION

The 62 asset managers below reported 14,726,625 for, 55,733 against, 8,259 abstained, 4,000 not voted. 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: 14,726,625AGAINST: 55,733ABSTAIN: 8,259NOT VOTED: 4,000
Largest asset managers voting on “RESOLUTION ON THE REVOCATION OF THE EXISTING AUTHORIZED CAPITAL II AND THE CREATION OF NEW AUTHORIZED CAPITAL ” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Six Circles Trust4,476,3180 00For
Investment Managers Series Trust2,715,4630 00For
JPMorgan1,519,9900 00For
BlackRock963,4150 00For
Jackson National897,6847,049 00For
John Hancock681,70232,313 00For
HARDING LOEVNER FUNDS INC622,0250 00For
Bridge Builder Trust618,6230 00For
SEQUOIA FUND INC575,1720 00For
BAILLIE GIFFORD FUNDS188,7560 00For
BBH Trust174,4050 00For
Calamos168,0330 00For
MARSICO INVESTMENT FUND129,0570 00For
Brighthouse120,1730 00For
Harbor ETF Trust98,4980 00For
BUFFALO FUNDS87,3910 00For
Natixis82,5010 00For
UNITED CAPITAL FINANCIAL ADVISORS, LLC80,7830 00For
Allianz77,9420 00For
TRUST FOR PROFESSIONAL MANAGERS66,8770 00For
RBC FUNDS TRUST56,9080 00For
Guardian Variable Products Trust40,8810 00For
PFM Multi-Manager Series Trust38,0800 00For
CARILLON SERIES TRUST37,4010 00For
OPTIMUM FUND TRUST33,6710 00For

Showing the 25 largest of 62 asset managers. See all 62 in the interactive database.

6. Increase in Authorised Capital I

No official resultsCAPITAL STRUCTURE

99.5% of fund votes cast · no official result

FOR
Details: votes by 26 asset managers

The 26 asset managers below reported 9,873,279 for, 43,615 against. 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: 9,873,279AGAINST: 43,615
Largest asset managers voting on “Increase in Authorised Capital I” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab3,208,5020 00For
Vanguard2,327,6180 00For
Hartford1,442,0150 00For
Prudential/PGIM1,172,4080 00For
SEI636,0990 00For
Mercer Funds238,4190 00For
Russell Investments200,1990 00For
Federated Hermes132,6490 00For
Global X114,9850 00For
DOMINI INVESTMENT TRUST66,7000 00For
Nationwide52,4940 00For
Neuberger Berman51,3450 00For
Fidelity51,3000 00For
Brighthouse38,4780 00For
Datum One Series Trust036,597 00Against
Equitable32,5510 00For
SEI Exchange Traded Funds28,5160 00For
Northwestern Mutual18,4510 00For
Morgan Stanley17,9150 00For
PACE SELECT ADVISORS TRUST16,7060 00For
Brown Capital Management Mutual Funds10,1410 00For
Victory Capital10,0080 00For
2023 ETF Series Trust07,018 00Against
Forethought Variable Insurance Trust4,4940 00For
Morningstar Funds Trust1,0140 00For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

7. Increase in Authorised Capital II

No official resultsCAPITAL STRUCTURE

99.5% of fund votes cast · no official result

FOR
Details: votes by 26 asset managers

The 26 asset managers below reported 9,873,279 for, 43,615 against. 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: 9,873,279AGAINST: 43,615
Largest asset managers voting on “Increase in Authorised Capital II” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab3,208,5020 00For
Vanguard2,327,6180 00For
Hartford1,442,0150 00For
Prudential/PGIM1,172,4080 00For
SEI636,0990 00For
Mercer Funds238,4190 00For
Russell Investments200,1990 00For
Federated Hermes132,6490 00For
Global X114,9850 00For
DOMINI INVESTMENT TRUST66,7000 00For
Nationwide52,4940 00For
Neuberger Berman51,3450 00For
Fidelity51,3000 00For
Brighthouse38,4780 00For
Datum One Series Trust036,597 00Against
Equitable32,5510 00For
SEI Exchange Traded Funds28,5160 00For
Northwestern Mutual18,4510 00For
Morgan Stanley17,9150 00For
PACE SELECT ADVISORS TRUST16,7060 00For
Brown Capital Management Mutual Funds10,1410 00For
Victory Capital10,0080 00For
2023 ETF Series Trust07,018 00Against
Forethought Variable Insurance Trust4,4940 00For
Morningstar Funds Trust1,0140 00For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

8. Stock Issuance

No official resultsCAPITAL STRUCTURE

100% of fund votes cast · no official result

FOR
Details: votes by 2 asset managers

The 2 asset managers below reported 7,609 for. 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: 7,609
Largest asset managers voting on “Stock Issuance” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Williamson Legacy Group, LLC7,6090 00For
ESL Trust Services, LLC00 00--

9. Approve Allocation of Income and Dividends of EUR 2.35 per Share

No official resultsCAPITAL STRUCTURE

Combines 2 wordings of this item as funds reported it.

100% of fund votes cast · no official result

FOR
Details: votes by 121 asset managers

The 121 asset managers below reported 140,093,048 for. 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: 140,093,048
Largest asset managers voting on “Approve Allocation of Income and Dividends of EUR 2.35 per Share” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard32,241,6290 00For
Fidelity24,931,2140 00For
Capital Group18,957,7640 00For
EUPAC FUND11,517,5590 00For
MFS7,902,1610 00For
Goldman Sachs5,511,1170 00For
TIAA4,875,1640 00For
T. Rowe Price3,862,9880 00For
State Street2,844,7080 00For
Invesco2,321,9360 00For
Waddell & Reed1,403,2600 00For
AMCAP FUND1,230,6450 00For
INVESTMENT CO OF AMERICA1,211,6270 00For
GMO1,194,1510 00For
Dimensional1,042,2100 00For
Equitable983,0400 00For
AllianceBernstein961,6000 00For
Morgan Stanley885,4480 00For
Legg Mason867,7190 00For
Columbia Threadneedle862,2050 00For
WisdomTree765,1680 00For
NEW ECONOMY FUND622,1210 00For
TEMPLETON GROWTH FUND INC620,3190 00For
American Century613,2860 00For
BNY Mellon611,4830 00For

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

10. Approve Discharge of Management Board for Fiscal Year 2024

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: votes by 121 asset managers

The 121 asset managers below reported 140,093,048 for. 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: 140,093,048
Largest asset managers voting on “Approve Discharge of Management Board for Fiscal Year 2024” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard32,241,6290 00For
Fidelity24,931,2140 00For
Capital Group18,957,7640 00For
EUPAC FUND11,517,5590 00For
MFS7,902,1610 00For
Goldman Sachs5,511,1170 00For
TIAA4,875,1640 00For
T. Rowe Price3,862,9880 00For
State Street2,844,7080 00For
Invesco2,321,9360 00For
Waddell & Reed1,403,2600 00For
AMCAP FUND1,230,6450 00For
INVESTMENT CO OF AMERICA1,211,6270 00For
GMO1,194,1510 00For
Dimensional1,042,2100 00For
Equitable983,0400 00For
AllianceBernstein961,6000 00For
Morgan Stanley885,4480 00For
Legg Mason867,7190 00For
Columbia Threadneedle862,2050 00For
WisdomTree765,1680 00For
NEW ECONOMY FUND622,1210 00For
TEMPLETON GROWTH FUND INC620,3190 00For
American Century613,2860 00For
BNY Mellon611,4830 00For

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

11. Approve Discharge of Supervisory Board for Fiscal Year 2024

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: votes by 121 asset managers

The 121 asset managers below reported 140,093,048 for. 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: 140,093,048
Largest asset managers voting on “Approve Discharge of Supervisory Board for Fiscal Year 2024” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard32,241,6290 00For
Fidelity24,931,2140 00For
Capital Group18,957,7640 00For
EUPAC FUND11,517,5590 00For
MFS7,902,1610 00For
Goldman Sachs5,511,1170 00For
TIAA4,875,1640 00For
T. Rowe Price3,862,9880 00For
State Street2,844,7080 00For
Invesco2,321,9360 00For
Waddell & Reed1,403,2600 00For
AMCAP FUND1,230,6450 00For
INVESTMENT CO OF AMERICA1,211,6270 00For
GMO1,194,1510 00For
Dimensional1,042,2100 00For
Equitable983,0400 00For
AllianceBernstein961,6000 00For
Morgan Stanley885,4480 00For
Legg Mason867,7190 00For
Columbia Threadneedle862,2050 00For
WisdomTree765,1680 00For
NEW ECONOMY FUND622,1210 00For
TEMPLETON GROWTH FUND INC620,3190 00For
American Century613,2860 00For
BNY Mellon611,4830 00For

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

12. RESOLUTION ON THE APPROPRIATION OF THE RETAINED EARNINGS FOR FISCAL YEAR 2024

Combines 2 wordings of this item as funds reported it.

99.9% of fund votes cast · no official result

FOR
Details: votes by 62 asset managers

The 62 asset managers below reported 14,706,075 for, 2,921 withheld, 3,759 abstained, 4,000 not voted. 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: 14,706,075ABSTAIN: 3,759WITHHOLD: 2,921NOT VOTED: 4,000
Largest asset managers voting on “RESOLUTION ON THE APPROPRIATION OF THE RETAINED EARNINGS FOR FISCAL YEAR 2024” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Six Circles Trust4,476,3180 00For
Investment Managers Series Trust2,715,4630 00For
JPMorgan1,519,9900 00For
BlackRock963,4150 00For
Jackson National904,7330 00For
John Hancock714,0150 00For
HARDING LOEVNER FUNDS INC622,0250 00For
Bridge Builder Trust618,6230 00For
SEQUOIA FUND INC575,1720 00For
BAILLIE GIFFORD FUNDS188,7560 00For
BBH Trust174,4050 00For
Calamos168,0330 00For
MARSICO INVESTMENT FUND129,0570 00For
Brighthouse120,1730 00For
Harbor ETF Trust98,4980 00For
BUFFALO FUNDS87,3910 00For
Natixis82,5010 00For
Allianz77,9420 00For
TRUST FOR PROFESSIONAL MANAGERS66,8770 00For
RBC FUNDS TRUST56,9080 00For
Guardian Variable Products Trust40,8810 00For
PFM Multi-Manager Series Trust38,0800 00For
CARILLON SERIES TRUST37,4010 00For
OPTIMUM FUND TRUST33,6710 00For
HARBOR FUNDS30,7860 00For

Showing the 25 largest of 62 asset managers. See all 62 in the interactive database.

13. RESOLUTION ON THE FORMAL APPROVAL OF THE ACTS OF THE EXECUTIVE BOARD IN FISCAL YEAR 2024

Combines 2 wordings of this item as funds reported it.

99.9% of fund votes cast · no official result

FOR
Details: votes by 62 asset managers

The 62 asset managers below reported 14,706,075 for, 2,921 withheld, 3,759 abstained, 4,000 not voted. 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: 14,706,075ABSTAIN: 3,759WITHHOLD: 2,921NOT VOTED: 4,000
Largest asset managers voting on “RESOLUTION ON THE FORMAL APPROVAL OF THE ACTS OF THE EXECUTIVE BOARD IN FISCAL YEAR 2024” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Six Circles Trust4,476,3180 00For
Investment Managers Series Trust2,715,4630 00For
JPMorgan1,519,9900 00For
BlackRock963,4150 00For
Jackson National904,7330 00For
John Hancock714,0150 00For
HARDING LOEVNER FUNDS INC622,0250 00For
Bridge Builder Trust618,6230 00For
SEQUOIA FUND INC575,1720 00For
BAILLIE GIFFORD FUNDS188,7560 00For
BBH Trust174,4050 00For
Calamos168,0330 00For
MARSICO INVESTMENT FUND129,0570 00For
Brighthouse120,1730 00For
Harbor ETF Trust98,4980 00For
BUFFALO FUNDS87,3910 00For
Natixis82,5010 00For
Allianz77,9420 00For
TRUST FOR PROFESSIONAL MANAGERS66,8770 00For
RBC FUNDS TRUST56,9080 00For
Guardian Variable Products Trust40,8810 00For
PFM Multi-Manager Series Trust38,0800 00For
CARILLON SERIES TRUST37,4010 00For
OPTIMUM FUND TRUST33,6710 00For
HARBOR FUNDS30,7860 00For

Showing the 25 largest of 62 asset managers. See all 62 in the interactive database.

14. RESOLUTION ON THE FORMAL APPROVAL OF THE ACTS OF THE SUPERVISORY BOARD IN FISCAL YEAR 2024

Combines 2 wordings of this item as funds reported it.

99.9% of fund votes cast · no official result

FOR
Details: votes by 62 asset managers

The 62 asset managers below reported 14,706,075 for, 2,921 withheld, 3,759 abstained, 4,000 not voted. 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: 14,706,075ABSTAIN: 3,759WITHHOLD: 2,921NOT VOTED: 4,000
Largest asset managers voting on “RESOLUTION ON THE FORMAL APPROVAL OF THE ACTS OF THE SUPERVISORY BOARD IN FISCAL YEAR 2024” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Six Circles Trust4,476,3180 00For
Investment Managers Series Trust2,715,4630 00For
JPMorgan1,519,9900 00For
BlackRock963,4150 00For
Jackson National904,7330 00For
John Hancock714,0150 00For
HARDING LOEVNER FUNDS INC622,0250 00For
Bridge Builder Trust618,6230 00For
SEQUOIA FUND INC575,1720 00For
BAILLIE GIFFORD FUNDS188,7560 00For
BBH Trust174,4050 00For
Calamos168,0330 00For
MARSICO INVESTMENT FUND129,0570 00For
Brighthouse120,1730 00For
Harbor ETF Trust98,4980 00For
BUFFALO FUNDS87,3910 00For
Natixis82,5010 00For
Allianz77,9420 00For
TRUST FOR PROFESSIONAL MANAGERS66,8770 00For
RBC FUNDS TRUST56,9080 00For
Guardian Variable Products Trust40,8810 00For
PFM Multi-Manager Series Trust38,0800 00For
CARILLON SERIES TRUST37,4010 00For
OPTIMUM FUND TRUST33,6710 00For
HARBOR FUNDS30,7860 00For

Showing the 25 largest of 62 asset managers. See all 62 in the interactive database.

15. Allocation of Dividends

No official resultsCAPITAL STRUCTURE

100% of fund votes cast · no official result

FOR
Details: votes by 27 asset managers

The 27 asset managers below reported 9,887,819 for, 33,255 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: 9,887,819ABSTAIN: 33,255
Largest asset managers voting on “Allocation of Dividends” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab3,208,5020 00For
Vanguard2,327,6180 00For
Hartford1,442,0150 00For
Prudential/PGIM1,172,4080 00For
SEI636,0990 00For
Mercer Funds238,4190 00For
Russell Investments200,1990 00For
Federated Hermes132,6490 00For
Global X114,9850 00For
DOMINI INVESTMENT TRUST66,7000 00For
Nationwide52,4940 00For
Neuberger Berman51,3450 00For
Fidelity51,3000 00For
Brighthouse5,2230 33,2550Mixed
Datum One Series Trust36,5970 00For
Equitable32,5510 00For
SEI Exchange Traded Funds28,5160 00For
Northwestern Mutual18,4510 00For
Morgan Stanley17,9150 00For
PACE SELECT ADVISORS TRUST16,7060 00For
Brown Capital Management Mutual Funds10,1410 00For
Victory Capital10,0080 00For
2023 ETF Series Trust7,0180 00For
Forethought Variable Insurance Trust4,4940 00For
LOUISBOURG INVESTMENTS INC.4,1800 00For

Showing the 25 largest of 27 asset managers. See all 27 in the interactive database.

16. Ratification of Management Board Acts

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: votes by 26 asset managers

The 26 asset managers below reported 9,883,639 for, 33,255 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: 9,883,639ABSTAIN: 33,255
Largest asset managers voting on “Ratification of Management Board Acts” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab3,208,5020 00For
Vanguard2,327,6180 00For
Hartford1,442,0150 00For
Prudential/PGIM1,172,4080 00For
SEI636,0990 00For
Mercer Funds238,4190 00For
Russell Investments200,1990 00For
Federated Hermes132,6490 00For
Global X114,9850 00For
DOMINI INVESTMENT TRUST66,7000 00For
Nationwide52,4940 00For
Neuberger Berman51,3450 00For
Fidelity51,3000 00For
Brighthouse5,2230 33,2550Mixed
Datum One Series Trust36,5970 00For
Equitable32,5510 00For
SEI Exchange Traded Funds28,5160 00For
Northwestern Mutual18,4510 00For
Morgan Stanley17,9150 00For
PACE SELECT ADVISORS TRUST16,7060 00For
Brown Capital Management Mutual Funds10,1410 00For
Victory Capital10,0080 00For
2023 ETF Series Trust7,0180 00For
Forethought Variable Insurance Trust4,4940 00For
Morningstar Funds Trust1,0140 00For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

17. Ratification of Supervisory Board Acts

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: votes by 26 asset managers

The 26 asset managers below reported 9,883,639 for, 33,255 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: 9,883,639ABSTAIN: 33,255
Largest asset managers voting on “Ratification of Supervisory Board Acts” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab3,208,5020 00For
Vanguard2,327,6180 00For
Hartford1,442,0150 00For
Prudential/PGIM1,172,4080 00For
SEI636,0990 00For
Mercer Funds238,4190 00For
Russell Investments200,1990 00For
Federated Hermes132,6490 00For
Global X114,9850 00For
DOMINI INVESTMENT TRUST66,7000 00For
Nationwide52,4940 00For
Neuberger Berman51,3450 00For
Fidelity51,3000 00For
Brighthouse5,2230 33,2550Mixed
Datum One Series Trust36,5970 00For
Equitable32,5510 00For
SEI Exchange Traded Funds28,5160 00For
Northwestern Mutual18,4510 00For
Morgan Stanley17,9150 00For
PACE SELECT ADVISORS TRUST16,7060 00For
Brown Capital Management Mutual Funds10,1410 00For
Victory Capital10,0080 00For
2023 ETF Series Trust7,0180 00For
Forethought Variable Insurance Trust4,4940 00For
Morningstar Funds Trust1,0140 00For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

18. Adopt Accounts for Past Year

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: votes by 2 asset managers

The 2 asset managers below reported 7,609 for. 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: 7,609
Largest asset managers voting on “Adopt Accounts for Past Year” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Williamson Legacy Group, LLC7,6090 00For
ESL Trust Services, LLC00 00--

19. Approve Previous Board's Actions

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: votes by 2 asset managers

The 2 asset managers below reported 7,609 for. 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: 7,609
Largest asset managers voting on “Approve Previous Board's Actions” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Williamson Legacy Group, LLC7,6090 00For
ESL Trust Services, LLC00 00--

20. Dividends

No official resultsCAPITAL STRUCTURE

100% of fund votes cast · no official result

FOR
Details: votes by 2 asset managers

The 2 asset managers below reported 7,609 for. 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: 7,609
Largest asset managers voting on “Dividends” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Williamson Legacy Group, LLC7,6090 00For
ESL Trust Services, LLC00 00--

21. Approve Virtual-Only Shareholder Meetings Until 2027

No official resultsCORPORATE GOVERNANCE

99.1% of fund votes cast · no official result

FOR
Details: votes by 121 asset managers

The 121 asset managers below reported 138,885,071 for, 1,206,950 against, 1,027 withheld. 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: 138,885,071AGAINST: 1,206,950WITHHOLD: 1,027
Largest asset managers voting on “Approve Virtual-Only Shareholder Meetings Until 2027” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard32,241,6290 00For
Fidelity24,931,2140 00For
Capital Group18,957,7640 00For
EUPAC FUND11,517,5590 00For
MFS7,902,1610 00For
Goldman Sachs5,511,1170 00For
TIAA4,875,1640 00For
T. Rowe Price3,862,9880 00For
State Street2,844,7080 00For
Invesco2,321,9360 00For
Waddell & Reed1,403,2600 00For
AMCAP FUND1,230,6450 00For
INVESTMENT CO OF AMERICA1,211,6270 00For
GMO1,194,1510 00For
Dimensional1,042,2100 00For
Equitable979,0224,018 00For
AllianceBernstein961,6000 00For
Morgan Stanley60,534824,914 00Mixed
Legg Mason867,7190 00For
Columbia Threadneedle862,2050 00For
WisdomTree765,1680 00For
NEW ECONOMY FUND622,1210 00For
TEMPLETON GROWTH FUND INC620,3190 00For
American Century613,2860 00For
BNY Mellon611,4830 00For

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

22. RESOLUTION ON A NEW AUTHORIZATION TO ENABLE VIRTUAL GENERAL MEETINGS OF SHAREHOLDERS AND ON THE CORRESPONDING AMENDMENT…

Combines 2 wordings of this item as funds reported it.

99.8% of fund votes cast · no official result

FOR
Details: description as filed, votes by 61 asset managers

Description as filed by funds: RESOLUTION ON A NEW AUTHORIZATION TO ENABLE VIRTUAL GENERAL MEETINGS OF SHAREHOLDERS AND ON THE CORRESPONDING AMENDMENT OF ARTICLE 20A (1) OF THE ARTICLES OF INCORPORATION

The 61 asset managers below reported 14,677,599 for, 28,476 against, 3,759 abstained, 4,000 not voted. 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: 14,677,599AGAINST: 28,476ABSTAIN: 3,759NOT VOTED: 4,000
Largest asset managers voting on “RESOLUTION ON A NEW AUTHORIZATION TO ENABLE VIRTUAL GENERAL MEETINGS OF SHAREHOLDERS AND ON THE CORRESPONDING ” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Six Circles Trust4,476,3180 00For
Investment Managers Series Trust2,715,4630 00For
JPMorgan1,519,9900 00For
BlackRock963,4150 00For
Jackson National904,7330 00For
John Hancock714,0150 00For
HARDING LOEVNER FUNDS INC622,0250 00For
Bridge Builder Trust618,6230 00For
SEQUOIA FUND INC575,1720 00For
BAILLIE GIFFORD FUNDS188,7560 00For
BBH Trust174,4050 00For
Calamos168,0330 00For
MARSICO INVESTMENT FUND129,0570 00For
Brighthouse120,1730 00For
Harbor ETF Trust98,4980 00For
BUFFALO FUNDS87,3910 00For
Natixis82,5010 00For
Allianz77,9420 00For
TRUST FOR PROFESSIONAL MANAGERS66,8770 00For
RBC FUNDS TRUST56,9080 00For
Guardian Variable Products Trust12,40528,476 00Mixed
PFM Multi-Manager Series Trust38,0800 00For
CARILLON SERIES TRUST37,4010 00For
OPTIMUM FUND TRUST33,6710 00For
HARBOR FUNDS30,7860 00For

Showing the 25 largest of 61 asset managers. See all 61 in the interactive database.

23. Amendments to Articles (Virtual Meeting)

No official resultsCORPORATE GOVERNANCE

68% of fund votes cast · no official result

FORAGAINST
Details: votes by 26 asset managers

The 26 asset managers below reported 6,687,269 for, 3,196,370 against, 33,255 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: 6,687,269AGAINST: 3,196,370ABSTAIN: 33,255
Largest asset managers voting on “Amendments to Articles (Virtual Meeting)” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab3,208,5020 00For
Vanguard155,9382,171,680 00Mixed
Hartford440,4611,001,554 00Mixed
Prudential/PGIM1,172,4080 00For
SEI636,0990 00For
Mercer Funds238,4190 00For
Russell Investments200,1990 00For
Federated Hermes132,6490 00For
Global X114,9850 00For
DOMINI INVESTMENT TRUST66,7000 00For
Nationwide52,4940 00For
Neuberger Berman51,3450 00For
Fidelity51,3000 00For
Brighthouse25,221 33,2550Mixed
Datum One Series Trust36,5970 00For
Equitable32,5510 00For
SEI Exchange Traded Funds28,5160 00For
Northwestern Mutual18,4510 00For
Morgan Stanley017,915 00Against
PACE SELECT ADVISORS TRUST16,7060 00For
Brown Capital Management Mutual Funds10,1410 00For
Victory Capital10,0080 00For
2023 ETF Series Trust7,0180 00For
Forethought Variable Insurance Trust4,4940 00For
Morningstar Funds Trust1,0140 00For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

24. Receive Financial Statements and Statutory Reports for Fiscal Year 2024 (Non-Voting)

No official resultsCORPORATE GOVERNANCE

74% of fund votes cast · no official result

ABSTAINNOT VOTED
Details: votes by 15 asset managers

The 15 asset managers below reported 68,004 for, 24,302 withheld, 312,185 abstained, 901,364 not voted, 197,716 unknown. 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: 68,004ABSTAIN: 312,185WITHHOLD: 24,302NOT VOTED: 901,364UNKNOWN: 197,716
Largest asset managers voting on “Receive Financial Statements and Statutory Reports for Fiscal Year 2024 (Non-Voting)” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Lincoln Financial00 024,302Withhold
Brighthouse00 00Not Voted
Empower00 00Not Voted
Catholic Responsible Investments Funds00 157,9440Abstain
FundVantage Trust00 00--
Advisors' Inner Circle Fund III00 96,9050Abstain
BBR ALO Fund, LLC00 00--
LITMAN GREGORY FUNDS TRUST66,5880 00For
Advisors' Inner Circle Fund II00 57,2880Abstain
Pear Tree Funds00 00Not Voted
Northern Lights Variable Trust1,4160 00For
JOHNSON MUTUAL FUNDS TRUST00 00--
AdvisorShares Trust00 00--
Symmetry Panoramic Trust00 480Abstain
Dunham Funds00 00--

25. Miscellaneous Compensation Plans

No official resultsSECTION 14A SAY-ON-PAY VOTES

100% of fund votes cast · no official result

FOR
Details: votes by 4 asset managers

The 4 asset managers below reported 18,486 for, 60 not voted. 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: 18,486NOT VOTED: 60
Largest asset managers voting on “Miscellaneous Compensation Plans” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
EAGLE GLOBAL ADVISORS LLC10,8770 00For
Williamson Legacy Group, LLC7,6090 00For
Blue Fin Capital, Inc.00 00Not Voted
ESL Trust Services, LLC00 00--

26. RESOLUTION ON THE APPROVAL OF THE COMPENSATION REPORT FOR FISCAL YEAR 2024

Combines 3 wordings of this item as funds reported it.

99.8% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 357 asset managers

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). 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.

Fund voting reports: 58 asset managers voting on “RESOLUTION ON THE APPROVAL OF THE COMPENSATION REPORT FOR FISCAL YEAR 2024” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Six Circles Trust4,476,3180 00For
Investment Managers Series Trust2,715,4630 00For
JPMorgan1,519,9900 00For
BlackRock963,4150 00For
Jackson National904,7330 00For
John Hancock714,0150 00For
HARDING LOEVNER FUNDS INC622,0250 00For
Bridge Builder Trust618,6230 00For
SEQUOIA FUND INC575,1720 00For
2023 ETF Series Trust257,5980 00For
BAILLIE GIFFORD FUNDS188,7560 00For
BBH Trust174,4050 00For
Calamos168,0330 00For
MARSICO INVESTMENT FUND129,0570 00For
Brighthouse120,1730 00For
Harbor ETF Trust98,4980 00For
BUFFALO FUNDS87,3910 00For
Natixis82,5010 00For
Allianz77,9420 00For
TRUST FOR PROFESSIONAL MANAGERS66,8770 00For
RBC FUNDS TRUST56,9080 00For
Guardian Variable Products Trust12,40528,476 00Mixed
PFM Multi-Manager Series Trust38,0800 00For
CARILLON SERIES TRUST37,4010 00For
OPTIMUM FUND TRUST33,6710 00For

Fund voting reports, all 58 managers: 14,920,599 for, 42,256 against, 2,921 withheld, 3,632 abstained, 4,000 not voted. Showing the 25 largest; see all in the interactive database.

Institutional-manager reports: 299 asset managers voting on “RESOLUTION ON THE APPROVAL OF THE COMPENSATION REPORT FOR FISCAL YEAR 2024” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
WCM INVESTMENT MANAGEMENT, LLC3,852,3700 00For
National Pension Service3,096,2090 00For
EdgePoint Investment Group Inc.2,683,1380 00For
EAGLE CAPITAL MANAGEMENT LLC2,336,3160 00For
Northern Trust1,766,1210 00For
WINDACRE PARTNERSHIP LLC1,611,2000 00For
HARDING LOEVNER LP1,360,4080 00For
1832 Asset Management L.P.1,340,9030 00For
Fiera Capital Corp1,067,4060 00For
Korea Investment CORP932,3690 00For
BlackRock872,0870 00For
BAILLIE GIFFORD OVERSEAS LTD820,3630 00For
ENVESTNET ASSET MANAGEMENT INC691,4610 00For
Natixis346,9500 420For
RAYMOND JAMES & ASSOCIATES325,7760 00For
JARISLOWSKY, FRASER Ltd324,9920 00For
Alua Capital Management LP323,1590 00For
Siemens Fonds Invest GmbH315,9350 00For
Treasurer of the State of North Carolina289,6000 00For
PNC BANK, NATIONAL ASSOCIATION178,1380 00For
South Dakota Investment Council170,9080 00For
SCOTIA CAPITAL INC.150,3390 00For
BAILLIE GIFFORD & CO LTD133,0230 00For
US BANK NATIONAL ASSOCIATION103,2070 00For
MAR VISTA INVESTMENT PARTNERS LLC83,4330 00For

Institutional-manager reports, all 299 managers: 26,343,063 for, 2,514 against, 184,323 abstained, 93,606 not voted, 30 unknown. Showing the 25 largest; see all in the interactive database.

27. Approve Remuneration Report

99.4% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 126 asset managers

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). 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.

Fund voting reports: 121 asset managers voting on “Approve Remuneration Report” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard32,241,6290 00For
Fidelity24,931,2140 00For
Capital Group18,957,7640 00For
EUPAC FUND11,517,5590 00For
MFS7,902,1610 00For
Goldman Sachs5,511,1170 00For
TIAA4,875,1640 00For
T. Rowe Price3,862,9880 00For
State Street2,844,7080 00For
Invesco2,321,9360 00For
Waddell & Reed1,403,2600 00For
AMCAP FUND1,230,6450 00For
INVESTMENT CO OF AMERICA1,211,6270 00For
GMO1,194,1510 00For
Dimensional1,042,2100 00For
Equitable979,0224,018 00For
AllianceBernstein961,6000 00For
Morgan Stanley885,4480 00For
Legg Mason867,7190 00For
Columbia Threadneedle862,2050 00For
WisdomTree765,1680 00For
NEW ECONOMY FUND622,1210 00For
TEMPLETON GROWTH FUND INC620,3190 00For
American Century613,2860 00For
BNY Mellon611,4830 00For

Fund voting reports, all 121 managers: 140,066,402 for, 26,646 against. Showing the 25 largest; see all in the interactive database.

Institutional-manager reports: 6 asset managers voting on “Approve Remuneration Report” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
JPMorgan5,875,1550 4,7940For
APG Asset Management US Inc.3,074,7630 00For
Walter Scott & Partners Ltd1,470,9930 00For
Desjardins Global Asset Management Inc.0793,126 00Against
BlackRock791,0610 00For
Plato Investment Management Ltd1,4070 00For

Institutional-manager reports, all 6 managers: 11,213,379 for, 793,126 against, 4,794 abstained.

28. Remuneration Report

No official resultsSECTION 14A SAY-ON-PAY VOTES

67% of fund votes cast · no official result

FORAGAINST
Details: votes by 29 asset managers

The 29 asset managers below reported 6,653,696 for, 3,263,070 against, 33,255 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: 6,653,696AGAINST: 3,263,070ABSTAIN: 33,255
Largest asset managers voting on “Remuneration Report” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab3,208,5020 00For
Vanguard155,9382,171,680 00Mixed
Hartford440,4611,001,554 00Mixed
Prudential/PGIM1,172,4080 00For
SEI636,0990 00For
Mercer Funds238,4190 00For
Russell Investments200,1990 00For
Federated Hermes132,6490 00For
Global X114,9850 00For
DOMINI INVESTMENT TRUST066,700 00Against
Nationwide52,4940 00For
Neuberger Berman51,3450 00For
Fidelity51,3000 00For
Brighthouse25,221 33,2550Mixed
Datum One Series Trust36,5970 00For
Equitable32,5510 00For
SEI Exchange Traded Funds28,5160 00For
ALGERT GLOBAL LLC28,0790 00For
Northwestern Mutual18,4510 00For
Morgan Stanley017,915 00Against
PACE SELECT ADVISORS TRUST16,7060 00For
Brown Capital Management Mutual Funds10,1410 00For
Victory Capital10,0080 00For
2023 ETF Series Trust7,0180 00For
Forethought Variable Insurance Trust4,4940 00For

Showing the 25 largest of 29 asset managers. See all 29 in the interactive database.

29. Advisory Vote to Ratify Named Executive Officers' Compensation

No official resultsSECTION 14A SAY-ON-PAY VOTES

96% of fund votes cast · no official result

FOR
Details: votes by 10 asset managers

The 10 asset managers below reported 4,685,604 for, 184,043 against, 9,065 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: 4,685,604AGAINST: 184,043ABSTAIN: 9,065
Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
TD ASSET MANAGEMENT INC3,237,1350 00For
GROUPAMA ASSET MANAGMENT745,5960 00For
Mirova US LLC543,62182,056 00Mixed
Regime de rentes du Mouvement Desjardins0101,987 00Against
TD Waterhouse Canada Inc.80,7970 00For
CAMBIAR INVESTORS LLC74,2210 00For
Coyle Financial Counsel LLC00 4,2740Abstain
SIERRA SUMMIT ADVISORS LLC00 4,2740Abstain
ALGEBRIS (UK) LTD4,2340 00For
Investment Partners Asset Management, Inc.00 5170Abstain

30. 14A Executive Compensation

No official resultsSECTION 14A SAY-ON-PAY VOTES

100% of fund votes cast · no official result

FOR
Details: votes by 2 asset managers

The 2 asset managers below reported 50 for. 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: 50
Largest asset managers voting on “14A Executive Compensation” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
PEDDOCK CAPITAL ADVISORS, LLC330 00For
Focus Partners Wealth170 00For

31. Approval of the Compensation report

Combines 2 wordings of this item as funds reported it.

100% of fund votes cast · no official result

FOR
Details: votes by 2 asset managers

The 2 asset managers below reported 2,313,200 for, 236 not voted. 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: 2,313,200NOT VOTED: 236
Largest asset managers voting on “Approval of the Compensation report” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
STATE FARM MUTUAL AUTOMOBILE INSURANCE CO2,313,2000 00For
Ballew Advisors, Inc00 00Not Voted

32. Resolution on the approval of the remuneration report for the 2024 financial year

No official resultsSECTION 14A SAY-ON-PAY VOTES

100% of fund votes cast · no official result

FOR
Details: votes by 2 asset managers

The 2 asset managers below reported 7,401,787 for. 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: 7,401,787
Largest asset managers voting on “Resolution on the approval of the remuneration report for the 2024 financial year” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Union Investment Management GmbH6,796,9440 00For
Union Investment Institutional GmbH604,8430 00For

33. Appoint BDO AG as Auditor for Sustainability Reporting for Fiscal Year 2025

No official resultsAUDIT-RELATED

100% of fund votes cast · no official result

FOR
Details: votes by 121 asset managers

The 121 asset managers below reported 140,093,048 for. 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: 140,093,048
Largest asset managers voting on “Appoint BDO AG as Auditor for Sustainability Reporting for Fiscal Year 2025” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard32,241,6290 00For
Fidelity24,931,2140 00For
Capital Group18,957,7640 00For
EUPAC FUND11,517,5590 00For
MFS7,902,1610 00For
Goldman Sachs5,511,1170 00For
TIAA4,875,1640 00For
T. Rowe Price3,862,9880 00For
State Street2,844,7080 00For
Invesco2,321,9360 00For
Waddell & Reed1,403,2600 00For
AMCAP FUND1,230,6450 00For
INVESTMENT CO OF AMERICA1,211,6270 00For
GMO1,194,1510 00For
Dimensional1,042,2100 00For
Equitable983,0400 00For
AllianceBernstein961,6000 00For
Morgan Stanley885,4480 00For
Legg Mason867,7190 00For
Columbia Threadneedle862,2050 00For
WisdomTree765,1680 00For
NEW ECONOMY FUND622,1210 00For
TEMPLETON GROWTH FUND INC620,3190 00For
American Century613,2860 00For
BNY Mellon611,4830 00For

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

34. Ratify BDO AG as Auditors for Fiscal Year 2025

No official resultsAUDIT-RELATED

100% of fund votes cast · no official result

FOR
Details: votes by 121 asset managers

The 121 asset managers below reported 140,093,048 for. 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: 140,093,048
Largest asset managers voting on “Ratify BDO AG as Auditors for Fiscal Year 2025” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard32,241,6290 00For
Fidelity24,931,2140 00For
Capital Group18,957,7640 00For
EUPAC FUND11,517,5590 00For
MFS7,902,1610 00For
Goldman Sachs5,511,1170 00For
TIAA4,875,1640 00For
T. Rowe Price3,862,9880 00For
State Street2,844,7080 00For
Invesco2,321,9360 00For
Waddell & Reed1,403,2600 00For
AMCAP FUND1,230,6450 00For
INVESTMENT CO OF AMERICA1,211,6270 00For
GMO1,194,1510 00For
Dimensional1,042,2100 00For
Equitable983,0400 00For
AllianceBernstein961,6000 00For
Morgan Stanley885,4480 00For
Legg Mason867,7190 00For
Columbia Threadneedle862,2050 00For
WisdomTree765,1680 00For
NEW ECONOMY FUND622,1210 00For
TEMPLETON GROWTH FUND INC620,3190 00For
American Century613,2860 00For
BNY Mellon611,4830 00For

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

35. APPOINTMENT OF THE AUDITORS OF THE SUSTAINABILITY REPORTING FOR FISCAL YEAR 2025

Combines 2 wordings of this item as funds reported it.

99.9% of fund votes cast · no official result

FOR
Details: votes by 61 asset managers

The 61 asset managers below reported 14,705,967 for, 2,921 withheld, 3,759 abstained, 4,000 not voted. 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: 14,705,967ABSTAIN: 3,759WITHHOLD: 2,921NOT VOTED: 4,000
Largest asset managers voting on “APPOINTMENT OF THE AUDITORS OF THE SUSTAINABILITY REPORTING FOR FISCAL YEAR 2025” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Six Circles Trust4,476,3180 00For
Investment Managers Series Trust2,715,4630 00For
JPMorgan1,519,9900 00For
BlackRock963,4150 00For
Jackson National904,7330 00For
John Hancock714,0150 00For
HARDING LOEVNER FUNDS INC622,0250 00For
Bridge Builder Trust618,6230 00For
SEQUOIA FUND INC575,1720 00For
BAILLIE GIFFORD FUNDS188,7560 00For
BBH Trust174,4050 00For
Calamos168,0330 00For
MARSICO INVESTMENT FUND129,0570 00For
Brighthouse120,1730 00For
Harbor ETF Trust98,4980 00For
BUFFALO FUNDS87,3910 00For
Natixis82,5010 00For
Allianz77,9420 00For
TRUST FOR PROFESSIONAL MANAGERS66,8770 00For
RBC FUNDS TRUST56,9080 00For
Guardian Variable Products Trust40,8810 00For
PFM Multi-Manager Series Trust38,0800 00For
CARILLON SERIES TRUST37,4010 00For
OPTIMUM FUND TRUST33,6710 00For
HARBOR FUNDS30,7860 00For

Showing the 25 largest of 61 asset managers. See all 61 in the interactive database.

36. APPOINTMENT OF THE AUDITORS OF THE ANNUAL FINANCIAL STATEMENTS AND THE GROUP ANNUAL FINANCIAL STATEMENTS FOR FISCAL…

99.3% of fund votes cast · no official result

FOR
Details: description as filed, votes by 38 asset managers

Description as filed by funds: APPOINTMENT OF THE AUDITORS OF THE ANNUAL FINANCIAL STATEMENTS AND THE GROUP ANNUAL FINANCIAL STATEMENTS FOR FISCAL YEAR 2025

The 38 asset managers below reported 13,650,808 for, 82,501 against. 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: 13,650,808AGAINST: 82,501
Largest asset managers voting on “APPOINTMENT OF THE AUDITORS OF THE ANNUAL FINANCIAL STATEMENTS AND THE GROUP ANNUAL FINANCIAL STATEMENTS FOR F” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Six Circles Trust4,476,3180 00For
Investment Managers Series Trust2,715,4630 00For
JPMorgan1,519,9900 00For
BlackRock956,2140 00For
Jackson National904,7330 00For
John Hancock714,0150 00For
Bridge Builder Trust618,6230 00For
SEQUOIA FUND INC575,1720 00For
BAILLIE GIFFORD FUNDS188,7560 00For
BBH Trust174,4050 00For
Calamos167,7990 00For
Brighthouse120,1730 00For
Harbor ETF Trust98,4980 00For
Natixis082,501 00Against
Allianz77,9420 00For
RBC FUNDS TRUST56,9080 00For
PFM Multi-Manager Series Trust38,0800 00For
Guardian Variable Products Trust37,4900 00For
CARILLON SERIES TRUST37,4010 00For
OPTIMUM FUND TRUST33,6710 00For
HARBOR FUNDS30,7860 00For
SCHWARTZ INVESTMENT TRUST22,3000 00For
Advisors' Inner Circle Fund III18,3400 00For
TRUST FOR PROFESSIONAL MANAGERS9,1200 00For
WILSHIRE MUTUAL FUNDS INC8,2050 00For

Showing the 25 largest of 38 asset managers. See all 38 in the interactive database.

37. APPOINTMENT OF THE AUDITORS OF THE ANNUAL FINANCIAL STATEMENTS AND GROUP ANNUAL FINANCIAL STATEMENTS FOR FISCAL YEAR…

No official resultsCORPORATE GOVERNANCE

Combines 2 wordings of this item as funds reported it.

99.6% of fund votes cast · no official result

FOR
Details: description as filed, votes by 28 asset managers

Description as filed by funds: APPOINTMENT OF THE AUDITORS OF THE ANNUAL FINANCIAL STATEMENTS AND GROUP ANNUAL FINANCIAL STATEMENTS FOR FISCAL YEAR 2025

The 28 asset managers below reported 959,258 for, 2,921 withheld, 3,759 abstained, 17,400 not voted. 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: 959,258ABSTAIN: 3,759WITHHOLD: 2,921NOT VOTED: 17,400
Largest asset managers voting on “APPOINTMENT OF THE AUDITORS OF THE ANNUAL FINANCIAL STATEMENTS AND GROUP ANNUAL FINANCIAL STATEMENTS FOR FISCA” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
HARDING LOEVNER FUNDS INC622,0250 00For
MARSICO INVESTMENT FUND129,0570 00For
BUFFALO FUNDS87,3910 00For
TRUST FOR PROFESSIONAL MANAGERS57,7570 00For
SATURNA INVESTMENT TRUST13,7800 00For
ALLIED ASSET ADVISORS FUNDS00 00Not Voted
Ultimus Managers Trust8,7810 3,6320Mixed
BlackRock7,2010 00For
ADVISORS SERIES TRUST6,2020 00For
Gabelli4,5000 00For
UNIFIED SERIES TRUST00 00Not Voted
Precidian ETFs Trust3,8470 00For
CITY NATIONAL ROCHDALE FUNDS3,8460 00For
RBB FUND, INC.3,8210 00For
Guardian Variable Products Trust3,3910 00For
NORTHERN LIGHTS FUND TRUST II00 02,921Withhold
Pacer Funds Trust2,4000 00For
Tidal Trust I1,2480 00For
ETF Series Solutions1,0000 00For
Amplify ETF Trust8480 00For
Decatur Capital Management, Inc.6710 00For
Gateway Trust5890 00For
Tidal Trust II4450 00For
Calamos2340 00For
Multi-Select Securities Fund for Puerto Rico Residents1850 00For

Showing the 25 largest of 28 asset managers. See all 28 in the interactive database.

38. Appointment of Auditor

No official resultsAUDIT-RELATED

100% of fund votes cast · no official result

FOR
Details: votes by 26 asset managers

The 26 asset managers below reported 9,883,639 for, 33,255 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: 9,883,639ABSTAIN: 33,255
Largest asset managers voting on “Appointment of Auditor” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab3,208,5020 00For
Vanguard2,327,6180 00For
Hartford1,442,0150 00For
Prudential/PGIM1,172,4080 00For
SEI636,0990 00For
Mercer Funds238,4190 00For
Russell Investments200,1990 00For
Federated Hermes132,6490 00For
Global X114,9850 00For
DOMINI INVESTMENT TRUST66,7000 00For
Nationwide52,4940 00For
Neuberger Berman51,3450 00For
Fidelity51,3000 00For
Brighthouse5,2230 33,2550Mixed
Datum One Series Trust36,5970 00For
Equitable32,5510 00For
SEI Exchange Traded Funds28,5160 00For
Northwestern Mutual18,4510 00For
Morgan Stanley17,9150 00For
PACE SELECT ADVISORS TRUST16,7060 00For
Brown Capital Management Mutual Funds10,1410 00For
Victory Capital10,0080 00For
2023 ETF Series Trust7,0180 00For
Forethought Variable Insurance Trust4,4940 00For
Morningstar Funds Trust1,0140 00For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

39. Appointment of Auditor for Sustainability Reporting

No official resultsAUDIT-RELATED

100% of fund votes cast · no official result

FOR
Details: votes by 26 asset managers

The 26 asset managers below reported 9,883,639 for, 33,255 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: 9,883,639ABSTAIN: 33,255
Largest asset managers voting on “Appointment of Auditor for Sustainability Reporting” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Charles Schwab3,208,5020 00For
Vanguard2,327,6180 00For
Hartford1,442,0150 00For
Prudential/PGIM1,172,4080 00For
SEI636,0990 00For
Mercer Funds238,4190 00For
Russell Investments200,1990 00For
Federated Hermes132,6490 00For
Global X114,9850 00For
DOMINI INVESTMENT TRUST66,7000 00For
Nationwide52,4940 00For
Neuberger Berman51,3450 00For
Fidelity51,3000 00For
Brighthouse5,2230 33,2550Mixed
Datum One Series Trust36,5970 00For
Equitable32,5510 00For
SEI Exchange Traded Funds28,5160 00For
Northwestern Mutual18,4510 00For
Morgan Stanley17,9150 00For
PACE SELECT ADVISORS TRUST16,7060 00For
Brown Capital Management Mutual Funds10,1410 00For
Victory Capital10,0080 00For
2023 ETF Series Trust7,0180 00For
Forethought Variable Insurance Trust4,4940 00For
Morningstar Funds Trust1,0140 00For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

40. Ratify Appointment of Independent Auditors

No official resultsAUDIT-RELATED

100% of fund votes cast · no official result

FOR
Details: votes by 2 asset managers

The 2 asset managers below reported 7,609 for. 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: 7,609
Largest asset managers voting on “Ratify Appointment of Independent Auditors” at SAP SE, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Williamson Legacy Group, LLC7,6090 00For
ESL Trust Services, LLC00 00--

Largest SAP SE 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 1,228,504,232 shares outstanding at the time of that meeting.

Fund voting reports: top SAP SE shareholders by shares voted on “Approve Remuneration Report”, 2024-2025
#Asset manager % of shares outstanding
1Vanguard 2.62%
2Fidelity 2.03%
3Capital Group 1.54%
4EUPAC FUND 0.94%
5MFS 0.64%
6Goldman Sachs 0.45%
7TIAA 0.40%
8T. Rowe Price 0.31%
9State Street 0.23%
10Invesco 0.19%
Institutional-manager reports: top SAP SE shareholders by shares voted on “RESOLUTION ON THE APPROVAL OF THE COMPENSATION REPORT FOR FISCAL YEAR 2024”, 2024-2025
#Asset manager % of shares outstanding
1WCM INVESTMENT MANAGEMENT, LLC 0.31%
2National Pension Service 0.25%
3EdgePoint Investment Group Inc. 0.22%
4EAGLE CAPITAL MANAGEMENT LLC 0.19%
5Northern Trust 0.14%
6WINDACRE PARTNERSHIP LLC 0.13%
7HARDING LOEVNER LP 0.11%
81832 Asset Management L.P. 0.11%
9Fiera Capital Corp 0.09%
10Korea Investment CORP 0.08%

Percentages above are of 1,228,504,232 shares outstanding, as reported by SAP SE on its Form 20-F dated December 31, 2024 (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 SAP SE’s 20-F dated December 31, 2024. This page is a static snapshot rebuilt weekly on October 18, 2026; a live search always shows the current data.

At SAP SE's shareholder meeting held May 13, 2025, in the 2024-2025 proxy season, 509 asset managers reported how they voted in their SEC Form N-PX filings, covering 7,875 separate fund positions. Their filings are grouped here into 40 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. No official Form 8-K vote tally has been matched to this meeting, so this page states no certified outcome for its most widely held ballot item. On that item — RESOLUTION ON THE APPROVAL OF THE COMPENSATION REPORT FOR FISCAL YEAR 2024 — the reporting funds and managers cast 99.8% of the shares they voted in favour (FOR divided by FOR plus AGAINST plus WITHHELD; abstained and unvoted shares are excluded because neither took a side). Fund and manager reports are combined in it and may count the same shares twice: it adds fund reports to institutional-manager reports, which can cover the same shares. It is not the company's certified result.

SAP SE proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.

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