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Explainers

Short explainers on how shareholder votes are counted and what the SEC filings behind this site show.

• Why a proposal can win most of the votes cast and still fail. Some proposals need a majority of all shares entitled to vote, not of the votes cast. The Air Products bylaw vote of January 2025 shows the difference.
• Against, Withhold and Abstain in director elections. What each choice on the ballot does under plurality and majority voting, and how this site counts it.
• Form N-PX, Form 8-K and Form 13F: what each one tells you. How funds voted, the official result and quarter-end holdings: what each SEC filing shows, and what it does not.