497 1 f25900d1.htm NEW TRUSTEE SAI ALL 072023 New Trustee SAI ALL 072023
 
Vanguard Funds
 
Supplement Dated July 20, 2023, to the Statement of Additional Information
The boards of trustees of the Vanguard funds (the “Boards”) have elected Grant Reid as a trustee of the Boards, effective July 20, 2023.
Statement of Additional Information Text Changes
In the Management of the Fund(s) section under “Officers and Trustees,” Mr. Reid is added to the table as follows: 
Name, Year of Birth
Position(s)
Held With
Funds
Vanguard
Funds’ Trustee/
Officer Since
Principal Occupation(s)
During the Past Five Years,
Outside Directorships,
and Other Experience
Number of
Vanguard Funds
Overseen by
Trustee/Officer
Independent Trustees
 
 
 
 
Grant Reid (1959)
Trustee
July 2023
Chief executive officer and president (2014–2022) and
member of the board of directors (2015–2022) of Mars,
Incorporated (multinational manufacturer). Member of
the board of directors of Marriott International, Inc.
Chair of Agribusiness Task Force, Sustainable Markets
Initiative.
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SAI ALL 072023