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MassMutual proxy voting record, 2023-2024

MassMutual reported 54,280 proxy votes on Form N-PX for the 2024 season. On the 41,090 ballot items the board itself put forward — directors, pay, the auditor, capital — it voted FOR 95.9% of the time. On the 1,784 environmental and social proposals put on the ballot by shareholders, it voted FOR 18.1% of the time.

2023-20242024-2025 2025-2026

95.9%Voted for board proposals
18.1%Backed E&S proposals
47,678Ballot items
20,076Proposals
2,252Issuers
33Funds / accounts

On the board’s own proposals

95.9% FOR of 41,090 fund votes on board proposals in 2023-2024: directors, pay, auditor, capital.

95.9% FOR

FOR 39,386 AGAINST 1,201 Abstained or withheld 503

How we count these

On proposals shareholders put on the ballot

18.1% FOR of 1,784 fund votes on environmental and social proposals shareholders put on the ballot. The board opposed 1,563.

18.1% FOR AGAINST

FOR 323 AGAINST 1,461 Abstained 32

See the 323 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.

MassMutual, 2023-2024. “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 (34 inferred)	28,755	28,031	97.6%	2.4%	494
Director Elections	Shareholders	33	2	100.0%	0.0%	21
Say-on-Pay	Board	5,578	4,881	94.5%	5.5%	2
Say-on-Pay	Shareholders (12 inferred)	12	6	100.0%	0.0%	0
Audit-related	Board	3,726	3,715	99.2%	0.8%	1
Audit-related	Shareholders (5 inferred)	14	14	100.0%	0.0%	0
Corporate Governance	Board	2,753	2,683	91.8%	8.2%	11
Corporate Governance	Shareholders	621	606	46.7%	53.3%	2
Compensation	Board (19 inferred)	2,203	2,171	90.5%	9.5%	7
Compensation	Shareholders	256	251	19.1%	80.9%	0
Capital Structure	Board	1,691	1,682	98.5%	1.5%	0
Capital Structure	Shareholders	24	22	100.0%	0.0%	0
Other Social Issues	Board	81	81	97.5%	2.5%	0
Other Social Issues	Shareholders	989	947	16.4%	83.6%	23
Environment or Climate	Board	46	43	100.0%	0.0%	2
Environment or Climate	Shareholders	752	728	14.8%	85.2%	16
Diversity, Equity, and Inclusion	Board	30	30	100.0%	0.0%	0
Diversity, Equity, and Inclusion	Shareholders	454	446	10.1%	89.9%	3
Human Rights or Human Capital/workforce	Board	30	30	100.0%	0.0%	0
Human Rights or Human Capital/workforce	Shareholders	417	399	13.0%	87.0%	7
Shareholder Rights and Defenses	Board	119	112	90.2%	9.8%	4
Shareholder Rights and Defenses	Shareholders	109	103	69.9%	30.1%	2
Extraordinary Transactions	Board	182	182	92.3%	7.7%	0
Other	Board	85	85	95.3%	4.7%	0
Other	Shareholders	4	4	25.0%	75.0%	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 (70 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 MassMutual broke with the board (1,527 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.: MassMutual filed 54,280 vote records for 2023-2024; after removing votes filed twice in different N-PX filings, that is 47,678 ballot items (fund-level observations) across 2,252 issuer names and 33 funds. They cover 20,076 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.
1,107 items are outside both headline figures.: Besides the table rows neither figure uses:

Excluded	Items	Why
Not voted	148	Reported as not voted, take no action or do not vote. No position was expressed, so there is nothing to count.
Other ballot type	683	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	276	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.

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