EX-99.77C VOTES 6 cd77lg.txt PROXY VOTE Notice to Shareholders At a special meeting of shareholders on December 3, 2002, fund shareholders approved the following proposals: o Elect trustees for each fund.* The individuals listed in the table below were elected as trustees for each fund. All trustees served as trustees to the funds prior to the shareholder meeting. ---------------------------- ----------------- --------------- ----------------- Trustee For Withheld Percentage For ---------------------------- ----------------- --------------- ----------------- ---------------------------- ----------------- --------------- ----------------- John J. Brennan 70,380,839,727 1,259,995,409 98.2% ---------------------------- ----------------- --------------- ----------------- ---------------------------- ----------------- --------------- ----------------- Charles D. Ellis 70,360,941,814 1,279,893,321 98.2 ---------------------------- ----------------- --------------- ----------------- ---------------------------- ----------------- --------------- ----------------- Rajiv L. Gupta 70,274,493,869 1,366,341,266 98.1 ---------------------------- ----------------- --------------- ----------------- ---------------------------- ----------------- --------------- ----------------- JoAnn Heffernan Heisen 70,368,543,153 1,272,291,982 98.2 ---------------------------- ----------------- --------------- ----------------- ---------------------------- ----------------- --------------- ----------------- Burton G. Malkiel 70,284,920,657 1,355,914,478 98.1 ---------------------------- ----------------- --------------- ----------------- ---------------------------- ----------------- --------------- ----------------- Alfred M. Rankin, Jr. 70,401,439,983 1,239,395,152 98.3 ---------------------------- ----------------- --------------- ----------------- ---------------------------- ----------------- --------------- ----------------- J. Lawrence Wilson 70,272,336,850 1,368,498,286 98.1 ---------------------------- ----------------- --------------- ----------------- *Results are for all funds within the same trust. o Change each fund's policy on investing in other mutual funds. This change enables each fund to invest its cash reserves in specially created money market and short-term bond funds. This new cash management program, which is similar to those of other large mutual fund complexes, should help the funds to achieve greater diversification and to earn modestly higher returns on their cash reserves. The funds will need Securities and Exchange Commission approval before implementing this new cash management program.
--------------------- ------------------- ----------------- ---------------- ----------------- -------------- Vanguard Fund For Against Abstain Broker Percentage Non-Votes For --------------------- ------------------- ----------------- ---------------- ----------------- -------------- --------------------- ------------------- ----------------- ---------------- ----------------- -------------- Growth Index 3,766,763,213 232,090,993 108,441,194 436,557,741 82.9% --------------------- ------------------- ----------------- ---------------- ----------------- -------------- --------------------- ------------------- ----------------- ---------------- ----------------- -------------- Value Index 1,588,656,069 71,260,133 47,410,920 335,573,086 77.8 --------------------- ------------------- ----------------- ---------------- ----------------- -------------- --------------------- ------------------- ----------------- ---------------- ----------------- -------------- Total Stock Market 11,298,489,963 495,818,077 522,401,216 1,048,920,887 84.5 Index --------------------- ------------------- ----------------- ---------------- ----------------- --------------
o Authorize each fund's trustees to change the target index. This change allows each fund's trustees to change the fund's target index if they determine that doing so is in the shareholders' best interests. Any new index chosen for a fund would be required to track the same market segment as the fund's existing index.
--------------------- ------------------- ----------------- ---------------- ----------------- -------------- Vanguard Fund For Against Abstain Broker Percentage Non-Votes For --------------------- ------------------- ----------------- ---------------- ----------------- -------------- --------------------- ------------------- ----------------- ---------------- ----------------- -------------- Growth Index 3,522,923,397 475,280,289 109,091,714 436,557,741 77.5% --------------------- ------------------- ----------------- ---------------- ----------------- -------------- --------------------- ------------------- ----------------- ---------------- ----------------- -------------- Value Index 1,577,430,811 82,358,766 47,537,545 335,573,086 77.2 --------------------- ------------------- ----------------- ---------------- ----------------- -------------- --------------------- ------------------- ----------------- ---------------- ----------------- -------------- Total Stock Market 11,208,896,648 738,148,937 369,663,670 1,048,920,887 83.9 Index --------------------- ------------------- ----------------- ---------------- ----------------- --------------
o Reclassify the following funds as nondiversified. This change to "nondiversified" status enables each fund to continue tracking its target index in the event that the index becomes dominated by a small number of stocks.
--------------------- ------------------- ----------------- ---------------- ----------------- -------------- Vanguard Fund For Against Abstain Broker Percentage Non-Votes For --------------------- ------------------- ----------------- ---------------- ----------------- -------------- --------------------- ------------------- ----------------- ---------------- ----------------- -------------- Value Index 1,589,834,694 63,378,350 54,114,078 335,573,086 77.8% --------------------- ------------------- ----------------- ---------------- ----------------- -------------- --------------------- ------------------- ----------------- ---------------- ----------------- -------------- Total Stock Market 11,298,871,300 629,169,613 388,668,343 1,048,920,887 84.5 Index --------------------- ------------------- ----------------- ---------------- ----------------- --------------
Note: Vote tabulations are rounded to the nearest whole number.