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M FUND INC proxy voting record, 2024-2025

M FUND INC reported 26,558 proxy votes on Form N-PX for the 2025 season. On the 21,875 ballot items the board itself put forward — directors, pay, the auditor, capital — it voted FOR 93.2% of the time. On the 139 environmental and social proposals put on the ballot by shareholders, it voted FOR 15.8% of the time.

2023-20242024-2025

93.2%Voted for board proposals
15.8%Backed E&S proposals
25,507Ballot items
25,384Proposals
1,943Issuers
4Funds / accounts

On the board’s own proposals

93.2% FOR of 21,875 fund votes on board proposals in 2024-2025: directors, pay, auditor, capital.

93.2% FOR

FOR 20,382 AGAINST 1,357 Abstained or withheld 136

How we count these

On proposals shareholders put on the ballot

15.8% FOR of 139 fund votes on environmental and social proposals shareholders put on the ballot. The board opposed 138.

15.8% FOR AGAINST

FOR 22 AGAINST 117 Abstained 0

See the 22 it backed →

How we count these

By proposal type

A single “voted with management” figure makes every manager look the same: director elections are most of the volume and nearly everyone votes FOR them. The record is therefore reported per category, using the category the filer itself put on each item in its N-PX.

M FUND INC, 2024-2025. “Decided” is FOR + AGAINST, the denominator of the two percentage columns; abstentions and withheld votes are shown separately and are never inside a percentage. Counted in ballot items — one fund’s vote on one proposal at one meeting — never in shares.
Proposal type	Put on the ballot by	Items	Decided	Voted FOR	Voted AGAINST	Abstained / withheld
Director Elections	Board (95 inferred)	14,621	14,463	95.4%	4.6%	134
Director Elections	Shareholders (1 inferred)	2	2	0.0%	100.0%	0
Compensation	Board (29 inferred)	3,136	3,132	84.4%	15.6%	2
Compensation	Shareholders (1 inferred)	55	55	43.6%	56.4%	0
Corporate Governance	Board	2,921	2,919	88.8%	11.2%	1
Corporate Governance	Shareholders (5 inferred)	255	255	42.7%	57.3%	0
Capital Structure	Board (1 inferred)	2,479	2,478	93.2%	6.8%	0
Capital Structure	Shareholders	21	21	28.6%	71.4%	0
Audit-related	Board	1,319	1,318	97.0%	3.0%	0
Audit-related	Shareholders	22	22	59.1%	40.9%	0
Other	Board	459	457	28.7%	71.3%	2
Other	Shareholders	25	25	48.0%	52.0%	0
Say-on-Pay	Board	423	398	87.7%	12.3%	0
Other Social Issues	Board	206	206	100.0%	0.0%	0
Other Social Issues	Shareholders	134	132	9.8%	90.2%	0
Environment or Climate	Board	116	116	86.2%	13.8%	0
Environment or Climate	Shareholders	149	148	3.4%	96.6%	0
Diversity, Equity, and Inclusion	Board	100	100	100.0%	0.0%	0
Diversity, Equity, and Inclusion	Shareholders	46	46	4.3%	95.7%	0
Extraordinary Transactions	Board	124	124	91.9%	8.1%	0
Human Rights or Human Capital/workforce	Board	100	100	100.0%	0.0%	0
Human Rights or Human Capital/workforce	Shareholders	22	21	19.0%	81.0%	0
Shareholder Rights and Defenses	Board	68	65	90.8%	9.2%	2
Shareholder Rights and Defenses	Shareholders	24	24	83.3%	16.7%	0

An item the filer put in two categories is counted in both rows, so the rows add up to more than the total. Who put an item on the ballot is decided item by item: the filer’s own answer on Form N-PX (Item 1(h)), or, where the filing does not give one, the proposal’s own wording (132 items, shown as inferred). The two figures above use only part of these rows: the board figure, board proposals on directors, pay, the auditor, capital, transactions and fund matters; the shareholder figure, environmental, social, workforce and diversity shareholder proposals at US-listed companies. How we count these

Every proposal where M FUND INC broke with the board (1,513 distinct proposals) →

What is being counted

The unit is a fund-level observation: one fund’s vote on one proposal at one meeting. It is not a share, not a filing line and not a proposal.: M FUND INC filed 26,558 vote records for 2024-2025; after removing votes filed twice in different N-PX filings, that is 25,507 ballot items (fund-level observations) across 1,943 issuer names and 4 funds. They cover 25,384 distinct proposals: one proposal voted by twenty of its funds is twenty ballot items here and one proposal. Proposals are counted per issuer name and meeting, and wordings of the same director nominee are counted once; two different wordings of any other proposal count twice, so this is an upper bound. A fund that reported several directions for the same item is a split vote, counted on its own (see the table below) and not collapsed into the larger direction. “Issuer names” is literal: filers spell the same company several ways and those are counted separately here, so this runs higher than the number of distinct companies.
Share counts are not used anywhere on this page.: Share figures in N-PX carry their own long list of corrections in this dataset, and a share-weighted rate would inherit every one of them. Every percentage here is a count of items.
Abstentions are reported, never hidden inside a percentage.: On the board’s own proposals an abstention or a withheld vote is not support, so it is in the denominator of the FOR figure and not in its numerator. On shareholder proposals an abstention is neither support nor opposition, so it is excluded from the denominator and shown on its own.
59 items are outside both headline figures.: Besides the table rows neither figure uses:

Excluded	Items	Why
Not voted	0	Reported as not voted, take no action or do not vote. No position was expressed, so there is nothing to count.
Other ballot type	25	Frequency ballots (one / two / three years) and anything else that is not a FOR, AGAINST, abstention or withhold.
Direction indeterminate	0	The fund reported several directions for one ballot item with no shares attached to any of them, so which way it voted cannot be established.
Split vote	34	The fund voted its shares in more than one direction on the item (for example some FOR and some AGAINST), the smaller part at least 5% of its shares. It is not collapsed into the larger part.

About this page

Every figure is derived from Form N-PX, the filing 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). Figures are rebuilt weekly; this page was built on October 13, 2026. The interactive database shows the same votes company by company, including every individual fund.

M FUND INC proxy season coverage: 2023-2024 · 2024-2025 (this page).