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Toronto-Dominion Bank shareholder proposals 2026
What shareholders asked Toronto-Dominion Bank to do, and how the funds holding Americans’ retirement savings voted on it: the funds in the 401(k) plans we index and the most widely held funds beyond them, with the filing behind every vote.
16 April 2026 · put on the ballot by shareholder · Workforce & human rights
Should Toronto-Dominion Bank report on forced and child labour in what it lends to and finances?
Shareholders asked the bank to report on how it identifies and addresses forced labour and child labour risk in its lending and financing portfolios — not only in its own operations, but in the businesses its capital supports.
“SP 6: Report on Forced Labor and Child Labor in Lending Portfolios”
1 of 32 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Vanguard Total International Stock Index Fund | AGAINST | 24,836,868 |
| Vanguard Developed Markets Index Fund | AGAINST | 16,234,931 |
| Fidelity Freedom 2030 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2040 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2050 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2020 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2035 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2045 Fund | AGAINST | 5,808,134 |
| Fidelity Advisor Freedom 2060 Fund | AGAINST | 5,808,134 |
| Fidelity Advisor Freedom 2055 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2025 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2010 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2015 Fund | AGAINST | 5,808,134 |
| Fidelity Advisor Freedom 2065 Fund | AGAINST | 5,808,134 |
The same proposal was put to Tesla, Royal Bank of Canada, National Bank of Canada.
16 April 2026 · put on the ballot by shareholder · Executive pay
SP 3: Adopt Performance-Aligned Compensation Policy
“SP 3: Adopt Performance-Aligned Compensation Policy”
1 of 67 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Vanguard Target Retirement 2030 Fund | AGAINST | 24,836,868 |
| Vanguard Target Retirement 2045 Fund | AGAINST | 24,836,868 |
| Vanguard Target Retirement 2035 Fund | AGAINST | 24,836,868 |
| Vanguard Target Retirement 2040 Fund | AGAINST | 24,836,868 |
| Vanguard Target Retirement 2025 Fund | AGAINST | 24,836,868 |
| Vanguard Target Retirement 2050 Fund | AGAINST | 24,836,868 |
| Vanguard Target Retirement Income Fund | AGAINST | 24,836,868 |
| Vanguard Target Retirement 2060 Fund | AGAINST | 24,836,868 |
| Vanguard Target Retirement 2055 Fund | AGAINST | 24,836,868 |
| Vanguard Target Retirement 2065 Fund | AGAINST | 24,836,868 |
| Vanguard Target Retirement 2020 Fund | AGAINST | 24,836,868 |
| Vanguard Target Retirement 2070 Fund | AGAINST | 24,836,868 |
| Vanguard Total International Stock Index Fund | AGAINST | 24,836,868 |
| Vanguard LifeStrategy 60/40 Fund | AGAINST | 24,836,868 |
16 April 2026 · put on the ballot by shareholder · Social
Should Toronto-Dominion Bank account for how it builds and uses AI?
Shareholders asked for a report on the company’s use of artificial intelligence — where its training data comes from and on what terms, how the board oversees the risk, and what the technology is doing to the accuracy of what users see.
“SP 7: Report on AI-Use in High-Level Decision-Making, Risk Assessment and Loan Grants”
19 of 31 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Vanguard Total International Stock Index Fund | AGAINST | 24,836,868 |
| Vanguard Developed Markets Index Fund | AGAINST | 16,234,931 |
| Fidelity Freedom 2030 Fund | FOR | 5,808,134 |
| Fidelity Freedom 2040 Fund | FOR | 5,808,134 |
| Fidelity Freedom 2050 Fund | FOR | 5,808,134 |
| Fidelity Freedom 2020 Fund | FOR | 5,808,134 |
| Fidelity Freedom 2035 Fund | FOR | 5,808,134 |
| Fidelity Freedom 2045 Fund | FOR | 5,808,134 |
| Fidelity Advisor Freedom 2060 Fund | FOR | 5,808,134 |
| Fidelity Advisor Freedom 2055 Fund | FOR | 5,808,134 |
| Fidelity Freedom 2025 Fund | FOR | 5,808,134 |
| Fidelity Freedom 2010 Fund | FOR | 5,808,134 |
| Fidelity Freedom 2015 Fund | FOR | 5,808,134 |
| Fidelity Advisor Freedom 2065 Fund | FOR | 5,808,134 |
The same proposal was put to Alphabet, Microsoft, Walmart, Shopify, Royal Bank of Canada, AtkinsRealis Group.
16 April 2026 · put on the ballot by shareholder · Social
SP 8: Disclose Non-Confidential Information Relating to the Bank's Country-by-Country Reporting
“SP 8: Disclose Non-Confidential Information Relating to the Bank's Country-by-Country Reporting”
1 of 31 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Vanguard Total International Stock Index Fund | AGAINST | 24,836,868 |
| Vanguard Developed Markets Index Fund | AGAINST | 16,234,931 |
| Fidelity Freedom 2030 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2040 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2050 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2020 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2035 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2045 Fund | AGAINST | 5,808,134 |
| Fidelity Advisor Freedom 2060 Fund | AGAINST | 5,808,134 |
| Fidelity Advisor Freedom 2055 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2025 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2010 Fund | AGAINST | 5,808,134 |
| Fidelity Freedom 2015 Fund | AGAINST | 5,808,134 |
| Fidelity Advisor Freedom 2065 Fund | AGAINST | 5,808,134 |
16 April 2026 · put on the ballot by shareholder · Climate & environment
Should Toronto-Dominion Bank publish a fuller account of its emissions and how it plans to cut them?
Shareholders asked the company to disclose its greenhouse gas emissions more completely, or to have its reduction targets independently assessed, so that the plan can be checked rather than taken on trust.
“Shareholder Proposal Regarding Say on Climate”
0 of 2 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Vanguard International Growth Fund | AGAINST | 3,609,576 |
| Hartford Schroders International Stock Fund | AGAINST | 2,132,849 |
The same proposal was put to NVIDIA, Amazon.com, Alphabet, Meta Platforms, Verizon Communications, JPMorgan Chase.
16 April 2026 · put on the ballot by shareholder · Climate & environment
Regarding Establishment of Advisory Committee on Systemic Impacts
“Shareholder Proposal Regarding Establishment of Advisory Committee on Systemic Impacts”
0 of 2 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Vanguard International Growth Fund | AGAINST | 3,609,576 |
| Hartford Schroders International Stock Fund | AGAINST | 2,132,849 |
16 April 2026 · put on the ballot by shareholder · Workforce & human rights
Should Toronto-Dominion Bank report on forced and child labour in what it lends to and finances?
Shareholders asked the bank to report on how it identifies and addresses forced labour and child labour risk in its lending and financing portfolios — not only in its own operations, but in the businesses its capital supports.
“Shareholder Proposal Regarding Report on Forced and Child Labour in Loan Portfolios”
0 of 4 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Schwab International Equity ETF | AGAINST | 3,639,431 |
| Vanguard International Growth Fund | AGAINST | 3,609,576 |
| Hartford Schroders International Stock Fund | AGAINST | 2,132,849 |
| Hartford Schroders International Multi-Cap Value Fund | AGAINST | 305,560 |
The same proposal was put to Tesla, Royal Bank of Canada, National Bank of Canada.
16 April 2026 · put on the ballot by shareholder · Executive pay
Regarding Executive Compensation Policy
“Shareholder Proposal Regarding Executive Compensation Policy”
0 of 4 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Schwab International Equity ETF | AGAINST | 3,639,431 |
| Vanguard International Growth Fund | AGAINST | 3,609,576 |
| Hartford Schroders International Stock Fund | AGAINST | 2,132,849 |
| Hartford Schroders International Multi-Cap Value Fund | AGAINST | 305,560 |
16 April 2026 · put on the ballot by shareholder
Regarding Board Youth Representation
“Shareholder Proposal Regarding Board Youth Representation”
0 of 4 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Schwab International Equity ETF | AGAINST | 3,639,431 |
| Vanguard International Growth Fund | AGAINST | 3,609,576 |
| Hartford Schroders International Stock Fund | AGAINST | 2,132,849 |
| Hartford Schroders International Multi-Cap Value Fund | AGAINST | 305,560 |
16 April 2026 · put on the ballot by shareholder
Regarding Board Skill Diversification Policy
“Shareholder Proposal Regarding Board Skill Diversification Policy”
0 of 4 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Schwab International Equity ETF | AGAINST | 3,639,431 |
| Vanguard International Growth Fund | AGAINST | 3,609,576 |
| Hartford Schroders International Stock Fund | AGAINST | 2,132,849 |
| Hartford Schroders International Multi-Cap Value Fund | AGAINST | 305,560 |
16 April 2026 · put on the ballot by shareholder · Climate & environment
Should Toronto-Dominion Bank publish a fuller account of its emissions and how it plans to cut them?
Shareholders asked the company to disclose its greenhouse gas emissions more completely, or to have its reduction targets independently assessed, so that the plan can be checked rather than taken on trust.
“SP 9: Advisory Vote on Environmental Policies”
0 of 5 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| MFS International Equity Fund | AGAINST | 3,881,898 |
| MFS International Diversification Fund | AGAINST | 2,502,047 |
| MFS Research International Fund | AGAINST | 2,502,047 |
| MFS International Value Fund | AGAINST | 1,146,519 |
| Fidelity Total International Equity Fund | AGAINST | 89,226 |
The same proposal was put to NVIDIA, Amazon.com, Alphabet, Meta Platforms, Verizon Communications, JPMorgan Chase.
16 April 2026 · put on the ballot by shareholder · Workforce & human rights
Should Toronto-Dominion Bank report on forced and child labour in what it lends to and finances?
Shareholders asked the bank to report on how it identifies and addresses forced labour and child labour risk in its lending and financing portfolios — not only in its own operations, but in the businesses its capital supports.
“THIS IS A SHAREHOLDER PROPOSAL: IT IS PROPOSED THAT, STARTING IN 2027, THE BANK PRODUCE A REPORT TO ITS SHAREHOLDERS AND INTERESTED PARTIES [STAKEHOLDERS*] ON THE MEASURES TAKEN DURING THE PREVIOUS FINANCIAL YEAR TO PREVENT AND REDUCE THE RISK OF LOANS BEING GRANTED TO COMPANIES THAT USE FORCED LABO”
0 of 10 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Blackrock Lifepath Index 2035 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2030 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2040 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2045 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2050 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index Retirement Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2055 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2060 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2065 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2070 Fund | AGAINST | 2,242,448 |
The same proposal was put to Tesla, Royal Bank of Canada, National Bank of Canada.
16 April 2026 · put on the ballot by shareholder · Executive pay
This is a shareholder proposal: it is proposed that the bank adopt a more responsible compensation policy that is aligned with the bank's overall performance
“THIS IS A SHAREHOLDER PROPOSAL: IT IS PROPOSED THAT THE BANK ADOPT A MORE RESPONSIBLE COMPENSATION POLICY THAT IS ALIGNED WITH THE BANK'S OVERALL PERFORMANCE”
0 of 10 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Blackrock Lifepath Index 2035 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2030 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2040 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2045 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2050 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index Retirement Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2055 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2060 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2065 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2070 Fund | AGAINST | 2,242,448 |
16 April 2026 · put on the ballot by shareholder · Social
Should Toronto-Dominion Bank account for how it builds and uses AI?
Shareholders asked for a report on the company’s use of artificial intelligence — where its training data comes from and on what terms, how the board oversees the risk, and what the technology is doing to the accuracy of what users see.
“THIS IS A SHAREHOLDER PROPOSAL: IT IS PROPOSED THAT THE BANK PRODUCE A REPORT ON THE USE OF ARTIFICIAL INTELLIGENCE IN RELATION TO DECISION-MAKING AT SENIOR LEVELS, RISK ASSESSMENT, AND CREDIT UNDERWRITING”
0 of 10 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Blackrock Lifepath Index 2035 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2030 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2040 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2045 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2050 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index Retirement Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2055 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2060 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2065 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2070 Fund | AGAINST | 2,242,448 |
The same proposal was put to Alphabet, Microsoft, Walmart, Shopify, Royal Bank of Canada, AtkinsRealis Group.
16 April 2026 · put on the ballot by shareholder
This is a shareholder proposal: it is proposed that the board of directors take the following measures to protect the organization and prevent the risks associated with the disengagement of savers and investors, who are often individual retail shareholders (please see the attached link for more details)
“THIS IS A SHAREHOLDER PROPOSAL: IT IS PROPOSED THAT THE BOARD OF DIRECTORS TAKE THE FOLLOWING MEASURES TO PROTECT THE ORGANIZATION AND PREVENT THE RISKS ASSOCIATED WITH THE DISENGAGEMENT OF SAVERS AND INVESTORS, WHO ARE OFTEN INDIVIDUAL RETAIL SHAREHOLDERS (PLEASE SEE THE ATTACHED LINK FOR MORE DETA”
0 of 5 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Blackrock Lifepath Index 2050 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2055 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2060 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2065 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2070 Fund | AGAINST | 2,242,448 |
16 April 2026 · put on the ballot by shareholder
This is a shareholder proposal: it is proposed that the bank's board of directors develop and make public, by the 2026 annual meeting, a plan to increase the representation of young people (aged 35 and under) within its governing bodies
“THIS IS A SHAREHOLDER PROPOSAL: IT IS PROPOSED THAT THE BANK'S BOARD OF DIRECTORS DEVELOP AND MAKE PUBLIC, BY THE 2026 ANNUAL MEETING, A PLAN TO INCREASE THE REPRESENTATION OF YOUNG PEOPLE (AGED 35 AND UNDER) WITHIN ITS GOVERNING BODIES”
0 of 5 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Blackrock Lifepath Index 2050 Fund | AGAINST | 2,242,448 |
| Blackrock Lifepath Index 2055 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2060 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2065 Fund | AGAINST | 2,242,448 |
| BlackRock LifePath Index 2070 Fund | AGAINST | 2,242,448 |
16 April 2026 · put on the ballot by shareholder
Regarding Participation in Annual Meetings
“Shareholder Proposal Regarding Participation in Annual Meetings”
0 of 1 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Hartford Schroders International Stock Fund | AGAINST | 2,132,849 |
16 April 2026 · put on the ballot by shareholder · Social
Should Toronto-Dominion Bank account for how it builds and uses AI?
Shareholders asked for a report on the company’s use of artificial intelligence — where its training data comes from and on what terms, how the board oversees the risk, and what the technology is doing to the accuracy of what users see.
“Shareholder Proposal Regarding Report on Use of Artificial Intelligence”
0 of 2 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Schwab International Equity ETF | AGAINST | 3,639,431 |
| Hartford Schroders International Stock Fund | AGAINST | 2,132,849 |
The same proposal was put to Alphabet, Microsoft, Walmart, Shopify, Royal Bank of Canada, AtkinsRealis Group.
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