# EDGAR Filing Document

**Accession Number:** 0001518235
**File Stem:** 0001518235-25-000007
**Filing Date:** 2025-8
**Character Count:** 30422
**Document Hash:** fdb7a8e0675f05a87664a348b5900775
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001518235-25-000007.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001518235-25-000007

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**EFFECTIVENESS DATE**: 20250827

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cardinal Capital Management, Inc.
- **CENTRAL INDEX KEY:** 0001518235

**ORGANIZATION NAME:**
- **EIN:** 980484819
- **STATE OF INCORPORATION:** A2
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16118
- **FILM NUMBER:** 251262070

**BUSINESS ADDRESS:**
- **STREET 1:** 400 - 1780 WELLINGTON AVENUE
- **CITY:** WINNIPEG
- **STATE:** A2
- **ZIP:** R3H 1B3
- **BUSINESS PHONE:** 204-783-0716

**MAIL ADDRESS:**
- **STREET 1:** 400 - 1780 WELLINGTON AVENUE
- **CITY:** WINNIPEG
- **STATE:** A2
- **ZIP:** R3H 1B3

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001518235

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Cardinal Capital Management, Inc.

**Address:** 400 - 1780 WELLINGTON AVENUE, WINNIPEG, A2 R3H 1B3

**Telephone number:** 1-800-310-4664

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-16118

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                         | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                                                                              | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| ABBVIE INC.                            | 00287Y109 | 5/09/2025      | Say on Pay - An advisory vote on the approval of executive compensation                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |         193183 |                0 | FOR         |                                   193183 | FOR                         |  |
| AIR PRODUCTS AND CHEMICALS, INC.       | 009158106 | 1/23/2025      | Advisory Vote Approving the Compensation of the Company's Executive Officers.                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |         114033 |                0 | FOR         |                                   114033 | FOR                         |  |
| ALLIED PROPERTIES REIT                 | 19456102  | 5/06/2025      | To approve the non-binding advisory resolution on the approach to executive compensation, as more fully described in the accompanying management information circular.                                                                                        | SECTION 14A SAY-ON-PAY VOTES |        1125207 |                0 | FOR         |                                  1125207 | FOR                         |  |
| APPLIED MATERIALS, INC.                | 038222105 | 3/06/2025      | Approval, on an advisory basis, of the compensation of Applied Materials' named executive officers for fiscal year 2024.                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |         142174 |                0 | FOR         |                                   142174 | FOR                         |  |
| BANK OF MONTREAL (THE "BANK")          | 063671101 | 4/11/2025      | Advisory vote on the Bank's Approach to Executive Compensation                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |        1275810 |                0 | FOR         |                                  1275810 | FOR                         |  |
| BECTON, DICKINSON AND COMPANY          | 075887109 | 1/28/2025      | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |         122525 |                0 | FOR         |                                   122525 | FOR                         |  |
| BOARDWALK REAL ESTATE INVESTMENT TRUST | 96631106  | 5/05/2025      | To consider and, if thought appropriate, approve a non-binding advisory resolution to accept the Trust's approach to executive compensation disclosed in the "2024 Compensation Discussion  Analysis" section of the Circular.                                | SECTION 14A SAY-ON-PAY VOTES |         738267 |                0 | FOR         |                                   738267 | FOR                         |  |
| BOOKING HOLDINGS INC.                  | 09857L108 | 6/03/2025      | Advisory vote to approve 2024 executive compensation.                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |           6950 |                0 | FOR         |                                     6950 | FOR                         |  |
| BROADCOM INC                           | 11135F101 | 4/21/2025      | Advisory vote to approve the named executive officer compensation.                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |         105115 |                0 | AGAINST     |                                   105115 | FOR                         |  |
| BROOKFIELD CORPORATION                 | 11271J107 | 6/06/2025      | Say on Pay Resolution The Say on Pay Resolution set out in the Circular.                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |        2223388 |                0 | FOR         |                                  2223388 | FOR                         |  |
| CANADIAN APARTMENT PROPERTIES REIT     | 134921105 | 6/03/2025      | Non-binding advisory say-on-pay resolution as set forth in the Management Information Circular approving CAPREIT's approach to executive compensation.                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |         803785 |                0 | FOR         |                                   803785 | FOR                         |  |
| CANADIAN IMPERIAL BANK OF COMMERCE     | 136069101 | 4/03/2025      | Advisory resolution regarding our executive compensation approach                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |        1872351 |                0 | FOR         |                                  1872351 | FOR                         |  |
| CANADIAN NATIONAL RAILWAY COMPANY      | 136375102 | 5/02/2025      | Non-binding advisory resolution (the full text of which is set out on page 15 of the Information Circular) to accept the approach to executive compensation disclosed in the Information Circular.                                                            | SECTION 14A SAY-ON-PAY VOTES |         708163 |                0 | FOR         |                                   708163 | FOR                         |  |
| CANADIAN PACIFIC KANSAS CITY LIMITED   | 13646K108 | 4/30/2025      | Advisory vote to approve the Corporation's approach to executive compensation as described in the Proxy Circular.                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |        1284391 |                0 | FOR         |                                  1284391 | FOR                         |  |
| CDW CORPORATION                        | 12514G108 | 5/20/2025      | To approve, on an advisory basis, named executive officer compensation.                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |          75711 |                0 | FOR         |                                    75711 | FOR                         |  |
| COMCAST CORPORATION                    | 20030N101 | 6/18/2025      | Advisory vote on executive compensation                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |         658780 |                0 | FOR         |                                   658780 | FOR                         |  |
| CONOCOPHILLIPS                         | 20825C104 | 5/13/2025      | Advisory Approval of Executive Compensation.                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |         124383 |                0 | FOR         |                                   124383 | FOR                         |  |
| CUMMINS INC.                           | 231021106 | 5/13/2025      | Advisory vote to approve the compensation of our named executive officers as disclosed in the proxy statement.                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |         106553 |                0 | FOR         |                                   106553 | FOR                         |  |
| DOLLARAMA INC.                         | 25675T107 | 6/11/2025      | Adoption of an advisory non-binding resolution in respect of the Corporation's approach to executive compensation, as more particularly described in the management proxy circular.                                                                           | SECTION 14A SAY-ON-PAY VOTES |           4008 |                0 | FOR         |                                     4008 | FOR                         |  |
| ELEMENT FLEET MANAGEMENT CORP.         | 286181201 | 5/02/2025      | To consider and, if thought advisable, to approve, a non-binding advisory resolution on the Corporation's approach to executive compensation as set out in the Corporation's management information circular delivered in advance of its 2025 Annual Meeting. | SECTION 14A SAY-ON-PAY VOTES |        3648819 |                0 | FOR         |                                  3648819 | FOR                         |  |
| EMERA INCORPORATED                     | 290876101 | 5/22/2025      | Consider and approve, on an advisory basis, a resolution on Emera's approach to executive compensation as disclosed in the Management Information Circular.                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         220970 |                0 | FOR         |                                   220970 | FOR                         |  |
| ENBRIDGE INC.                          | 29250N105 | 5/07/2025      | Accept Enbridge's approach to executive compensation, as disclosed in the Management Information Circular.                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |        2631140 |                0 | FOR         |                                  2631140 | FOR                         |  |
| EQUINIX, INC.                          | 29444U700 | 5/21/2025      | Approval, by a non-binding advisory vote, of the compensation of our named executive officers                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |          16004 |                0 | FOR         |                                    16004 | FOR                         |  |
| FORTIS INC.                            | 349553107 | 5/08/2025      | Approval of the advisory and non-binding resolution on the approach to executive compensation as described in the Management Information Circular.                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |        2830817 |                0 | FOR         |                                  2830817 | FOR                         |  |
| GILDAN ACTIVEWEAR INC.                 | 375916103 | 4/30/2025      | Approving an advisory resolution on the Corporation's approach to executive compensation.                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |        2722054 |                0 | FOR         |                                  2722054 | FOR                         |  |
| GLOBAL PAYMENTS INC.                   | 37940X102 | 4/24/2025      | Approval, on an advisory basis, of the compensation of the company's named executive officers for 2024.                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |          99077 |                0 | AGAINST     |                                    99077 | FOR                         |  |
| GLOBAL PAYMENTS INC.                   | 37940X102 | 4/24/2025      | Approval of Global Payments 2025 Incentive Plan.                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |          99077 |                0 | FOR         |                                    99077 | FOR                         |  |
| GRANITE REAL ESTATE INVESTMENT TRUST   | 387437205 | 6/05/2025      | Non-binding Advisory Resolution on Executive Compensation The non-binding advisory resolution on Granite's approach to executive compensation as set out in the Circular.                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         314310 |                0 | FOR         |                                   314310 | FOR                         |  |
| HONEYWELL INTERNATIONAL INC.           | 438516106 | 5/20/2025      | Advisory Vote to Approve Executive Compensation.                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |         126387 |                0 | FOR         |                                   126387 | FOR                         |  |
| INTACT FINANCIAL CORPORATION           | 45823T106 | 5/07/2025      | Advisory Resolution to Accept the Approach to Executive Compensation.                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |         456363 |                0 | FOR         |                                   456363 | FOR                         |  |
| MANULIFE FINANCIAL CORPORATION         | 56501R106 | 5/08/2025      | Advisory resolution accepting approach to executive compensation.                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |        4809824 |                0 | FOR         |                                  4809824 | FOR                         |  |
| MEDTRONIC PLC                          | G5960L103 | 10/17/2024     | Approving, on an advisory basis, the Company's executive compensation.                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |         263741 |                0 | FOR         |                                   263741 | FOR                         |  |
| MERCK  CO., INC.                       | 58933Y105 | 5/27/2025      | Non-binding advisory vote to approve the compensation of our named executive officers.                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |         253469 |                0 | FOR         |                                   253469 | FOR                         |  |
| NATIONAL BANK OF CANADA                | 633067103 | 4/24/2025      | Advisory resolution to accept the approach taken by the Bank's Board of Directors with respect to executive compensation. The text of the resolution is set out in Section 1 of the Management Proxy Circular.                                                | SECTION 14A SAY-ON-PAY VOTES |         808655 |                0 | FOR         |                                   808655 | FOR                         |  |
| NEXTERA ENERGY, INC.                   | 65339F101 | 5/22/2025      | Approval, by non-binding advisory vote, of NextEra Energy's compensation of its named executive officers as disclosed in the proxy statement.                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |         471884 |                0 | FOR         |                                   471884 | FOR                         |  |
| NUTRIEN LTD.                           | 67077M108 | 5/07/2025      | A non-binding advisory resolution to accept the Corporation's approach to executive compensation.                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |         588829 |                0 | FOR         |                                   588829 | FOR                         |  |
| NXP SEMICONDUCTORS N.V.                | N6596X109 | 6/11/2025      | Non-binding, advisory vote to approve Named Executive Officer compensation                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         114578 |                0 | FOR         |                                   114578 | FOR                         |  |
| ORACLE CORPORATION                     | 68389X105 | 11/14/2024     | Advisory Vote to Approve the Compensation of our Named Executive Officers.                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         212773 |                0 | FOR         |                                   212773 | FOR                         |  |
| PEMBINA PIPELINE CORPORATION           | 706327103 | 5/09/2025      | To accept the Corporation's approach to executive compensation as disclosed in the Management Information Circular.                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |        2909096 |                0 | FOR         |                                  2909096 | FOR                         |  |
| PEPSICO, INC.                          | 713448108 | 5/07/2025      | Advisory approval of the Company's executive compensation.                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         104225 |                0 | FOR         |                                   104225 | FOR                         |  |
| ROYAL BANK OF CANADA ("RBC")           | 780087102 | 4/10/2025      | Advisory vote on the Bank's approach to executive compensation                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |        1032560 |                0 | FOR         |                                  1032560 | FOR                         |  |
| SAP SE                                 | 803054204 | 5/13/2025      | Resolution on the approval of the compensation report for fiscal year 2024                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          76892 |                0 | FOR         |                                    76892 | FOR                         |  |
| SAPUTO INC.                            | 802912105 | 8/09/2024      | The adoption of an advisory non-binding resolution in respect of the Company's approach to executive compensation.                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |        4372600 |                0 | FOR         |                                  4372600 | FOR                         |  |
| SIEMENS AG                             | 826197501 | 2/13/2025      | Approval of the Compensation Report.                                                                                                                                                                                                                          | COMPENSATION                 |         487929 |                0 | FOR         |                                   487929 | FOR                         |  |
| STANLEY BLACK  DECKER, INC.            | 854502101 | 4/25/2025      | Approve, on an advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         269666 |                0 | AGAINST     |                                   269666 | FOR                         |  |
| SUN LIFE FINANCIAL INC.                | 866796105 | 5/08/2025      | Non-Binding Advisory Vote on Approach to Executive Compensation                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |        1117466 |                0 | FOR         |                                  1117466 | FOR                         |  |
| SUNCOR ENERGY INC.                     | 867224107 | 5/06/2025      | To consider and, if deemed fit, approve an advisory resolution on Suncor's approach to executive compensation disclosed in the Management Proxy Circular of Suncor Energy Inc. dated February 26, 2025 (the "Circular").                                      | SECTION 14A SAY-ON-PAY VOTES |        3488808 |                0 | FOR         |                                  3488808 | FOR                         |  |
| TC ENERGY CORPORATION                  | 87807B107 | 5/08/2025      | Resolution to accept TC Energy's approach to executive compensation, as described in the Management information circular.                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |        2471883 |                0 | FOR         |                                  2471883 | FOR                         |  |
| TELUS CORPORATION                      | 87971M103 | 5/09/2025      | Advisory vote on Say on Pay Approve the Company's approach to executive compensation.                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |         402969 |                0 | FOR         |                                   402969 | FOR                         |  |
| THE BANK OF NOVA SCOTIA                | 064149107 | 4/08/2025      | Advisory vote on non-binding resolution on executive compensation approach.                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |        2053258 |                0 | FOR         |                                  2053258 | FOR                         |  |
| THE HOME DEPOT, INC.                   | 437076102 | 5/22/2025      | Advisory Vote to Approve Executive Compensation ("Say-on-Pay")                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |          83947 |                0 | FOR         |                                    83947 | FOR                         |  |
| THE NORTH WEST COMPANY INC.            | 663278208 | 6/11/2025      | Executive Compensation (see page 18 of the management information circular dated April 9, 2025) A non-binding advisory resolution to accept North West's approach to executive compensation.                                                                  | SECTION 14A SAY-ON-PAY VOTES |         184835 |                0 | FOR         |                                   184835 | FOR                         |  |
| THE TORONTO-DOMINION BANK              | 802912105 | 4/10/2025      | Approach to executive compensation disclosed in the report of the Human Resources Committee and approach to executive compensation sections of the management proxy circular *Advisory Vote*                                                                  | SECTION 14A SAY-ON-PAY VOTES |          39268 |                0 | AGAINST     |                                    39268 | FOR                         |  |
| U.S. BANCORP                           | 902973304 | 4/15/2025      | An advisory vote to approve the compensation of our executives disclosed in the proxy statement.                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |          31096 |                0 | FOR         |                                    31096 | FOR                         |  |
| UNITED RENTALS, INC.                   | 911363109 | 5/08/2025      | Advisory Approval of Executive Compensation                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          33371 |                0 | FOR         |                                    33371 | FOR                         |  |
| WELLS FARGO  COMPANY                   | 949746101 | 4/29/2025      | Advisory vote to approve executive compensation (Say on Pay).                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |         542307 |                0 | FOR         |                                   542307 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Cardinal Capital Management, Inc.

**By (Signature):** DeWayne Osborn

**By (Printed Signature):** DeWayne Osborn

**By (Title):** Chief Compliance Officer

**Date:** 08/27/2025