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Royce 2025-2026: where it broke with the board

Two kinds of vote are listed: a board-sponsored proposal Royce voted AGAINST or withheld on, and a shareholder proposal it voted FOR, with the board’s recommendation on it where the filings show one. A FOR vote on a proposal the board supported, or took no position on, is listed and labelled, but it is not a vote against the board. One row is one proposal at one meeting; “funds” is how many of the manager’s funds or accounts voted that way.

Everything Only shareholder proposals it backed

277 proposals.

Royce, 2025-2026 proxy season. Who put a proposal on the ballot is taken from the filer’s own N-PX answer (Item 1(h)), or, marked “inferred”, from its category and wording where the filing does not say; see how we count these.
CompanyMeetingProposalCategory On the ballot fromBoard recommendedRoyce votedFunds
Aspen Aerogels, Inc. May 13, 2026 Approval, on a non-binding, advisory basis, of the compensation of Aspen Aerogels, Inc.'s named executive officers, as disclosed in its Proxy Statement for the 2026 Annual Meeting. Say-on-Pay Board (inferred) ABSTAIN 2
Axos Financial, Inc. November 13, 2025 To approve an amendment to the Amended and Restated 2014 Stock Incentive Plan. Compensation Board ABSTAIN 2
BridgeBio Pharma, Inc. June 22, 2026 To approve an amendment and restatement of the 2021 Amended and Restated BridgeBio Pharma, Inc. Stock Option and Incentive Plan to increase the number of shares of common stock reserved for issuance thereunder by 2,000,000 shares. Compensation Board ABSTAIN 2
Burke & Herbert Financial Services Corp. June 18, 2026 Election of the following persons as Directors: James P. Geary, II Director Elections Board AGAINST 2
Carter's, Inc. May 13, 2026 Approval of amended and restated equity incentive plan Compensation Board ABSTAIN 2
Daiei Kankyo Co. Ltd. June 25, 2026 Elect Director Shimoda, Morihiko Director Elections Board AGAINST 2
Donegal Group Inc. April 16, 2026 Election of Directors Nominees for Class A Directors: Annette B. Szady Director Elections Board WITHHOLD 2
Donegal Group Inc. April 16, 2026 Election of Directors Nominees for Class A Directors: David C. King Director Elections Board WITHHOLD 2
Donegal Group Inc. April 16, 2026 Election of Directors Nominees for Class A Directors: Kevin G. Burke Director Elections Board WITHHOLD 2
Entrada Therapeutics, Inc. June 10, 2026 Approval of Amendment No. 1 to the Entrada Therapeutics, Inc. 2021 Employee Stock Purchase Plan. Compensation Board AGAINST 2
Entrada Therapeutics, Inc. June 10, 2026 Approval of Amendment No. 1 to the Entrada Therapeutics, Inc. 2021 Stock Option and Incentive Plan. Compensation Board AGAINST 2
Entrada Therapeutics, Inc. June 10, 2026 Election of Directors: Bernhardt Zeiher, M.D. Director Elections Board WITHHOLD 2
Entrada Therapeutics, Inc. June 10, 2026 Election of Directors: Peter S. Kim, Ph.D. Director Elections Board WITHHOLD 2
FRP Holdings, Inc. May 12, 2026 Approval of the 2026 Equity Incentive Plan (the "Equity Incentive Plan Proposal") (The Board recommends a vote "FOR" this proposal). Compensation Board ABSTAIN 2
FirstCash Holdings, Inc. June 9, 2026 Approve the reincorporation of the Company to the State of Texas by conversion. Extraordinary Transactions Board AGAINST 2
HCI Group, Inc. June 10, 2026 Approval, on an advisory basis, of the compensation of the named executive officers. Say-on-Pay Board (inferred) ABSTAIN 2
Heidrick & Struggles International, Inc. December 5, 2025 To approve, on a non-binding, advisory basis, the compensation that may be paid or become payable to Heidrick's named executive officers that is based on or otherwise relates to the Merger Agreement and the transactions contemplated thereby. Say-on-Pay Board (inferred) ABSTAIN 2
Hilltop Holdings Inc. July 24, 2025 Non-binding advisory vote to approve executive compensation. Say-on-Pay Board (inferred) ABSTAIN 2
Inseego Corp. June 16, 2026 Approve, in an advisory vote, the compensation paid to the Company's named executive officers, as presented in the proxy statement Say-on-Pay Board (inferred) ABSTAIN 2
Insteel Industries Inc. February 10, 2026 To approve, on an advisory basis, the compensation of our named executive officers Say-on-Pay Board (inferred) AGAINST 2
Kardex Holding AG April 30, 2026 Ratify PricewaterhouseCoopers AG as Auditors Audit-related Board AGAINST 2
Life Time Group Holdings, Inc. April 22, 2026 Election of Class II Directors: J. Kristofer Galashan Director Elections Board WITHHOLD 2
Life Time Group Holdings, Inc. April 22, 2026 Election of Class II Directors: Jennifer Pomerantz Director Elections Board WITHHOLD 2
Life Time Group Holdings, Inc. April 22, 2026 Election of Class II Directors: Jonathan Coslet Director Elections Board WITHHOLD 2
Lincoln National Corporation May 28, 2026 The approval of an advisory resolution on the compensation of our named executive officers. Say-on-Pay Board (inferred) ABSTAIN 2
Mueller Industries, Inc. May 7, 2026 To approve, on an advisory basis by non-binding vote, executive compensation. Say-on-Pay Board (inferred) AGAINST 2
OneSpaWorld Holdings Limited June 3, 2026 Election of Directors: Andrew R. Heyer Director Elections Board WITHHOLD 2
Palvella Therapeutics, Inc. June 10, 2026 Approval of an amendment to the 2024 Equity Incentive Plan to increase the authorized shares issuable under the 2024 Plan by 750,000 shares. Compensation Board AGAINST 2
Petco Health and Wellness Company, Inc. June 30, 2026 To approve the Second Amendment to the Company's 2021 Equity Incentive Plan to increase the number of shares of Class A Common Stock authorized for issuance under the plan. Compensation Board ABSTAIN 2
Preferred Bank May 19, 2026 FREQUENCY OF ADVISORY VOTE. To express preference, in a non-binding advisory vote, on the frequency of Say on Pay. Say-on-Pay Board (inferred) ABSTAIN 2
SOL SpA May 12, 2026 Approve Second Section of the Remuneration Report Compensation Board AGAINST 2
SOL SpA May 12, 2026 Elect Federica Annoni as Director Director Elections Board AGAINST 2
Shoals Technologies Group, Inc. April 30, 2026 Approval, by an advisory vote, of the compensation of the Company's Named Executive Officers (i.e., "say-on-pay proposal). Say-on-Pay Board (inferred) ABSTAIN 2
Spire Global, Inc. May 27, 2026 To approve, in an advisory (non-binding) vote, the compensation paid to our named executive officers. Say-on-Pay Board (inferred) ABSTAIN 2
Stevanato Group SpA May 26, 2026 Approve Remuneration of Directors Compensation Board ABSTAIN 2
Tri Pointe Homes, Inc. April 16, 2026 To approve, on a non-binding, advisory basis, the compensation that may be paid or become payable to the Company's named executive officers that is based on or otherwise relates to the Merger Agreement and the transactions contemplated therein. Say-on-Pay Board (inferred) ABSTAIN 2
Ur-Energy Inc. June 4, 2026 Stock Option Plan Resolution Ratify, confirm and approve the renewal of the Ur-Energy Inc. Amended and Restated Stock Option Plan 2005, and approve and authorize for a period of three years all unallocated stock options issuable pursuant to the Option Plan. Compensation Board AGAINST 2
VZ Holding AG March 27, 2026 Ratify PricewaterhouseCoopers AG as Auditors Audit-related Board AGAINST 2
VZ Holding AG March 27, 2026 Reappoint Matthias Reinhart as Member of the Compensation Committee Director Elections Board AGAINST 2
VZ Holding AG March 27, 2026 Reappoint Roland Ledergerber as Member of the Compensation Committee Director Elections Board AGAINST 2
VZ Holding AG March 27, 2026 Reelect Olivier de Perregaux as Director Director Elections Board AGAINST 2
VZ Holding AG March 27, 2026 Reelect Roland Iff as Director Director Elections Board AGAINST 2
Vertex, Inc. June 10, 2026 Election of directors: Eric Andersen Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: John J. Sumas Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: John P. Sumas Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: Kevin Begley Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: Nicholas Sumas Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: Perry Blatt Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: Prasad Pola Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: Robert Sumas Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: Stephen F. Rooney Director Elections Board WITHHOLD 2
Village Super Market, Inc. December 12, 2025 Election of Directors: Steven Crystal Director Elections Board WITHHOLD 2
Vimeo, Inc. November 19, 2025 To approve, on a non-binding, advisory basis, compensation that will or may become payable to the named executive officers of Vimeo in connection with the transactions contemplated by the merger agreement, which proposal is referred to as the merger-related compensation proposal. Say-on-Pay Board ABSTAIN 2
AMC Global Media Inc. June 16, 2026 Advisory vote on Named Executive Officer compensation Say-on-Pay Board (inferred) ABSTAIN 1
ARS Pharmaceuticals, Inc. June 24, 2026 To approve, on an advisory basis, the compensation of the Company's named executive officers, as disclosed in the accompanying proxy statement. Say-on-Pay Board AGAINST 1
ATOSS Software SE April 30, 2026 Approve Issuance of Warrants/Bonds with Warrants Attached/Convertible Bonds without Preemptive Rights up to Aggregate Nominal Amount of EUR 450 Million; Approve Creation of EUR 3.2 Million Pool of Capital to Guarantee Conversion Rights Capital Structure Board AGAINST 1
ATOSS Software SE April 30, 2026 Approve Remuneration Report Compensation Board ABSTAIN 1
Advanced Energy Industries, Inc. May 7, 2026 Approval of the amendment and restatement of the Amended and Restated 2023 Omnibus Incentive Plan; and Compensation Board ABSTAIN 1
AerCap Holdings NV April 15, 2026 Approve Report of the Nomination and Compensation Committee Compensation Board ABSTAIN 1
American Integrity Insurance Group, Inc. June 11, 2026 To approve, on an advisory basis, the frequency of future advisory votes on named executive officer compensation. Say-on-Pay Board (inferred) ABSTAIN 1
Antin Infrastructure Partners SA June 10, 2026 Authorize up to 2,000,000 Shares for Use in Stock Option Plans Compensation Board AGAINST 1
Arq, Inc. June 10, 2026 To approve the Arq, Inc. 2026 Omnibus Incentive Plan; and Compensation Board ABSTAIN 1
Asseco Poland SA May 7, 2026 Approve Remuneration Report Compensation Board AGAINST 1
Aviat Networks, Inc. November 5, 2025 Approval of Third Amended and Restated 2018 Incentive Plan of the Company. Compensation Board ABSTAIN 1
Ayvens SA May 13, 2026 Approve Compensation of Philippe de Rovira, CEO From Decembre 1, 2025 Compensation Board ABSTAIN 1
Ayvens SA May 13, 2026 Approve Remuneration Policy of Philippe de Rovira, CEO Compensation Board ABSTAIN 1
BK Technologies Corporation June 18, 2026 To approve, on an advisory, non-binding basis, the compensation of our named executive officers. Say-on-Pay Board (inferred) ABSTAIN 1
BRC Group Holdings, Inc. May 19, 2026 To approve, on an advisory basis, the compensation of our named executive officers. Say-on-Pay Board (inferred) ABSTAIN 1
Babcock & Wilcox Enterprises, Inc. May 20, 2026 Approval of amendment to the Company's 2021 Long-Term Incentive Plan. Compensation Board ABSTAIN 1
Berkshire Hathaway Inc. May 2, 2026 Non-binding resolution to approve the compensation of the Company's Named Executive Officers, as described in the 2026 Proxy Statement. Say-on-Pay Board (inferred) ABSTAIN 1
Berkshire Hathaway Inc. May 2, 2026 Non-binding resolution to determine the frequency (whether annual, biennial or triennial) with which shareholders of the Company shall be entitled to have an advisory vote on executive compensation. Say-on-Pay Board (inferred) ABSTAIN 1
Box, Inc. June 25, 2026 To approve an amendment to our Amended and Restated 2015 Equity Incentive Plan to increase the number of shares reserved for issuance by 7,200,000 shares. Compensation Board ABSTAIN 1
Bravida Holding AB April 28, 2026 Approve Remuneration Report Compensation Board AGAINST 1
Bumble Inc. June 4, 2026 Approval, on a non-binding advisory basis, of the compensation of the named executive officers as disclosed in the Proxy Statement. Say-on-Pay Board (inferred) ABSTAIN 1
Burford Capital Ltd. May 13, 2026 To approve, on an advisory basis, the compensation of the Company's named executive officers as disclosed in the proxy statement for the 2026 annual general meeting of shareholders under "Executive compensation", including the compensation discussion and analysis, the compensation tables and the related narrative discussion included therein ("Say-on-Pay"). Say-on-Pay Board ABSTAIN 1
CA Sales Holdings Limited June 5, 2026 Approve Financial Assistance in Terms of Section 44 of the Companies Act Capital Structure Board AGAINST 1
CA Sales Holdings Limited June 5, 2026 Approve Remuneration Policy Compensation Board ABSTAIN 1
CTS Eventim AG & Co. KGaA May 27, 2026 Approve Remuneration Report Compensation Board AGAINST 1
CVR Energy, Inc. June 4, 2026 To approve, on an advisory basis, our named executive officer compensation. Say-on-Pay Board ABSTAIN 1
Calavo Growers, Inc. April 28, 2026 The Merger-Related Compensation Proposal - A non-binding, advisory proposal to approve compensation that will or may become payable by Calavo to its named executive officers in connection with the transactions contemplated by the Merger Agreement. Say-on-Pay Board (inferred) ABSTAIN 1
Capri Holdings Limited August 7, 2025 To approve the Capri Holdings Limited Fourth Amended and Restated Omnibus Incentive Plan. Compensation Board ABSTAIN 1
Capstone Copper Corp. April 30, 2026 Amend Incentive Share Option and Bonus Share Plan Compensation Board AGAINST 1
Carl Zeiss Meditec AG March 26, 2026 Approve Remuneration Policy Compensation Board ABSTAIN 1
Carl Zeiss Meditec AG March 26, 2026 Approve Remuneration Report Compensation Board ABSTAIN 1
Cellebrite DI Ltd. September 19, 2025 Approve Compensation Package for Thomas E. Hogan, CEO Compensation Board ABSTAIN 1
Citizens Financial Services, Inc. April 21, 2026 Advisory vote to approve the compensation of the Company's named executive officers as disclosed in the proxy statement. Say-on-Pay Board (inferred) ABSTAIN 1
Cogent Communications Holdings, Inc. May 1, 2026 To approve the Third Amended and Restated 2017 Incentive Award Plan of the Company, including an increase in the number of shares available for issuance thereunder by 1.5 million shares. Compensation Board ABSTAIN 1
Cogent Communications Holdings, Inc. May 1, 2026 To hold an advisory vote to approve named executive officer compensation. Say-on-Pay Board ABSTAIN 1
CompX International Inc. May 20, 2026 Nonbinding advisory vote approving named executive officer compensation. Say-on-Pay Board ABSTAIN 1
Compass Minerals International, Inc. March 5, 2026 Approve, on an advisory basis, the compensation of our named executive officers. Say-on-Pay Board (inferred) ABSTAIN 1
CorVel Corporation August 7, 2025 To approve the 2025 Stock Incentive Plan. Compensation Board ABSTAIN 1
Corcept Therapeutics Incorporated May 21, 2026 To approve an amendment to the Corcept Therapeutics Incorporated 2024 Incentive Award Plan to increase the number of shares available thereunder and clarify certain other language in the plan. Compensation Board ABSTAIN 1
Cricut, Inc. June 3, 2026 To approve, by non-binding vote, named executive officer compensation. Say-on-Pay Board (inferred) ABSTAIN 1
Dillard's, Inc. August 19, 2025 To approve the reincorporation of the Company from the State of Delaware to the State of Texas by conversion. Extraordinary Transactions Board AGAINST 1
EPAM Systems, Inc. May 21, 2026 To approve an amendment to the EPAM Systems, Inc. 2025 Long Term Incentive Plan to add 4,000,000 additional shares. Compensation Board ABSTAIN 1
Embecta Corp. February 11, 2026 Approval of an amendment to the Embecta 2022 Employee and Director Equity-Based Compensation Plan Compensation Board ABSTAIN 1
Embla Medical hf March 10, 2026 Approve Creation of ISK 67 Million Pool of Capital without Preemptive Rights Capital Structure Board AGAINST 1
Embla Medical hf March 10, 2026 Approve Remuneration Policy And Other Terms of Employment For Executive Management Compensation Board ABSTAIN 1
Emergent BioSolutions Inc. April 29, 2026 To hold, on an advisory basis, a vote to approve the 2025 compensation of our named executive officers. Say-on-Pay Board (inferred) ABSTAIN 1
Enphase Energy, Inc. May 13, 2026 To approve an amendment and restatement of our 2021 Equity Incentive Plan to increase the number of shares of common stock authorized for issuance thereunder by 2,000,000 shares. Compensation Board ABSTAIN 1

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Built October 25, 2026 from SEC Form N-PX filings.