# EDGAR Filing Document

**Accession Number:** 0001740837
**File Stem:** 0001740837-25-000013
**Filing Date:** 2025-8
**Character Count:** 18691
**Document Hash:** c2a59d405081daebaf4fa19433b20c3e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001740837-25-000013.hdr.sgml**: 20250818

**ACCESSION NUMBER**: 0001740837-25-000013

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250818

**EFFECTIVENESS DATE**: 20250818

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AltraVue Capital, LLC
- **CENTRAL INDEX KEY:** 0001740837

**ORGANIZATION NAME:**
- **EIN:** 811081432
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19044
- **FILM NUMBER:** 251227624

**BUSINESS ADDRESS:**
- **STREET 1:** 11747 NE 1ST STREET
- **STREET 2:** SUITE 205
- **CITY:** BELLEVUE
- **STATE:** WA
- **ZIP:** 98005
- **BUSINESS PHONE:** 4254558896

**MAIL ADDRESS:**
- **STREET 1:** 11747 NE 1ST STREET
- **STREET 2:** SUITE 205
- **CITY:** BELLEVUE
- **STATE:** WA
- **ZIP:** 98005

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

## N-PX: Filer Information

**Filer CIK:** 0001740837

**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:** AltraVue Capital, LLC

**Address:** 11747 NE First Street, Bellevue, WA 98005

**Telephone number:** 4254558896

**Name of agent for service:** —

**Agent Address:** —, —, — —

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

**SEC File Number:** 028-19044

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** 254900TG5H0QQOWSW875

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

Institutional Manager.

- [ ] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [x] 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   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| AGILYSYS, INC.                  | 00847J105 | 09/12/2024     | Approval, on a non-binding advisory basis, of the compensation of the Company's named executive officers set forth in the attached Proxy Statement.                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |          49561 |                0 | FOR         |                                    49561 | FOR                         |  |
| AMADEUS IT GROUP S.A            | E04648114 | 06/03/2025     | DIRECTORS REMUNERATION REPORT 2024 FOR AN ADVISORY                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |         568855 |                0 | FOR         |                                   568855 | FOR                         |  |
| ARGAN, INC.                     | 04010E109 | 06/17/2025     | The non-binding advisory approval of our executive compensation (the "say-on- pay" vote).                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |          46966 |                0 | FOR         |                                    46966 | FOR                         |  |
| ARGAN, INC.                     | 04010E109 | 06/17/2025     | The non-binding advisory vote on the frequency of the stockholder vote on our executive compensation (the "say-on- frequency" vote).                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |          46966 |                0 | 1 YEAR      |                                    46966 | FOR                         |  |
| AVID BIOSERVICES, INC.          | 05368M106 | 10/16/2024     | To approve, by an advisory vote, a non-binding resolution approving the compensation of the Company's named executive officers, as disclosed in the Company's proxy statement.                                                                                     | SECTION 14A SAY-ON-PAY VOTES |        2343618 |                0 | FOR         |                                  2343618 | FOR                         |  |
| AVID BIOSERVICES, INC.          | 05368M106 | 01/30/2025     | To approve, on an advisory (non-binding) basis, the compensation that may be paid or become payable to Avid's named executive officers that is based on or otherwise relates to the Merger Agreement and the transactions contentemplated by the Merger Agreement. | SECTION 14A SAY-ON-PAY VOTES |        2337088 |                0 | FOR         |                                  2337088 | FOR                         |  |
| BAKER HUGHES COMPANY            | 05722G100 | 05/20/2025     | An advisory vote related to the Company's executive compensation program                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |        1009510 |                0 | FOR         |                                  1009510 | FOR                         |  |
| BGC GROUP INC.                  | 088929104 | 09/16/2024     | Approval, on an advisory basis, of executive compensation.                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |        6805562 |                0 | FOR         |                                  6805562 | FOR                         |  |
| CONSOLIDATED WATER CO. LTD.     | G23773107 | 05/27/2025     | An advisory vote on executive compensation.                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |          90049 |                0 | FOR         |                                    90049 | FOR                         |  |
| EPLUS INC.                      | 294268107 | 09/12/2024     | To approve, on an advisory basis, named executive officer compensation.                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |         620269 |                0 | FOR         |                                   620269 | FOR                         |  |
| FERROVIAL SE                    | N3168P101 | 04/24/2025     | REMUNERATION REPORT FOR THE FINANCIAL YEAR 2024                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |        1187664 |                0 | FOR         |                                  1187664 | FOR                         |  |
| I3 VERTICALS, INC.              | 46571Y107 | 02/25/2025     | To consider and act upon a non-binding, advisory vote to approve the compensation of the Company's named executive officers as disclosed in the Proxy Statement.                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         119766 |                0 | FOR         |                                   119766 | FOR                         |  |
| IES HOLDINGS, INC.              | 44951W106 | 02/20/2025     | ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION.                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |          26264 |                0 | FOR         |                                    26264 | FOR                         |  |
| JANUS INTERNATIONAL GROUP, INC. | 47103N106 | 06/16/2025     | To approve, on a non-binding, advisory basis, the compensation of our named executive officers.                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         225730 |                0 | AGAINST     |                                   225730 | AGAINST                     |  |
| LSI INDUSTRIES INC.             | 50216C108 | 11/05/2024     | Advisory vote on the compensation of the named executive officers as described in the Company's proxy statement (the "Say-on-Pay vote").                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         184160 |                0 | FOR         |                                   184160 | FOR                         |  |
| MARRIOTT INTERNATIONAL, INC.    | 571903202 | 05/09/2025     | ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         135420 |                0 | FOR         |                                   135420 | FOR                         |  |
| MELROSE INDUSTRIES PLC          | G5973J210 | 04/30/2025     | APPROVE REMUNERATION REPORT                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |        6381089 |                0 | ABSTAIN     |                                  6381089 | AGAINST                     |  |
| NVR, INC.                       | 62944T105 | 05/06/2025     | Advisory vote to approve compensation paid to certain executive officers.                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |           5360 |                0 | FOR         |                                     5360 | FOR                         |  |
| STAGWELL INC.                   | 85256A109 | 06/12/2025     | Approval, on an advisory basis, of the 2024 compensation of our named executive officers.                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |         329540 |                0 | FOR         |                                   329540 | FOR                         |  |
| STONEX GROUP INC.               | 861896108 | 03/05/2025     | To approve the advisory (non-binding) resolution relating to executive compensation.                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |         541234 |                0 | FOR         |                                   541234 | FOR                         |  |
| SUNSTONE HOTEL INVESTORS, INC.  | 867892101 | 05/01/2025     | Advisory vote to approve the compensation of Sunstone's named executive officers, as set forth in Sunstone's Proxy Statement for the 2025 Annual Meeting.                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |         185150 |                0 | ABSTAIN     |                                   185150 | AGAINST                     |  |
| THALES SA                       | F9156M108 | 05/16/2025     | APPROVAL OF THE 2024 COMPENSATION SCHEME PAID OR GRANTED TO MR PATRICE CAINE, CHAIRMAN AND CHIEF EXECUTIVE OFFICER AND SOLE EXECUTIVE CORPORATE OFFICER                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |          69440 |                0 | FOR         |                                    69440 | FOR                         |  |
| TRIUMPH FINANCIAL, INC.         | 89679E300 | 04/22/2025     | Management Proposal Regarding Advisory Approval of the Company's Executive Compensation.                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         639999 |                0 | FOR         |                                   639999 | FOR                         |  |
| TRIUMPH FINANCIAL, INC.         | 89679E300 | 04/22/2025     | Management Proposal Regarding Advisory Approval of Frequency of Future Say On Pay Votes.                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         639999 |                0 | 1 YEAR      |                                   639999 | FOR                         |  |
| UFP TECHNOLOGIES, INC.          | 902673102 | 06/04/2025     | To vote on a non-binding advisory resolution to approve the compensation of our named executive officers.                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |          22748 |                0 | FOR         |                                    22748 | FOR                         |  |
| UFP TECHNOLOGIES, INC.          | 902673102 | 06/04/2025     | To vote on a non-binding advisory resolution on the frequency of future advisory votes on the compensation of our named executive officers.                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |          22748 |                0 | 1 YEAR      |                                    22748 | AGAINST                     |  |
| UL SOLUTIONS INC                | 903731107 | 05/20/2025     | The approval, on an advisory basis, of the compensation of the Company's named executive officers as disclosed in the Proxy Statement.                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |         830766 |                0 | FOR         |                                   830766 | FOR                         |  |
| UL SOLUTIONS INC                | 903731107 | 05/20/2025     | The approval, on an advisory basis, of the preferred frequency of stockholder advisory votes on the compensation of the Company's named executive officers.                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |         830766 |                0 | 1 YEAR      |                                   830766 | FOR                         |  |
| UNITEDHEALTH GROUP INCORPORATED | 91324P102 | 06/02/2025     | Advisory approval of the Company's executive compensation.                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |          77990 |                0 | FOR         |                                    77990 | FOR                         |  |
| VSE CORPORATION                 | 918284100 | 05/08/2025     | Approval, on a non-binding advisory basis, of VSE's named executive officer compensation.                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |         425235 |                0 | FOR         |                                   425235 | FOR                         |  |
| WINMARK CORPORATION.            | 974250102 | 04/23/2025     | Advisory vote to approve executive compensation.                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         112862 |                0 | FOR         |                                   112862 | FOR                         |  |
| WINMARK CORPORATION.            | 974250102 | 04/23/2025     | Approve holding an advisory vote to approve executive compensation every one, two or three years, as indicated.                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         112862 |                0 | 1 YEAR      |                                   112862 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** AltraVue Capital, LLC

**By (Signature):** Tom Parkhurst

**By (Printed Signature):** Tom Parkhurst

**By (Title):** COO

**Date:** 07/16/2025