What it holds
A vote account stores the validator's identity public key, the voter authority that signs slots, and the commission — the slice of stake rewards the validator keeps. It is owned by the vote program, not by the validator's wallet.
Not a wallet
New readers often assume a vote account holds the staked tokens. It does not. The stake sits in stake accounts that delegate toward the vote account. The vote account is the address the network counts, not the place the value lives.
Commission
Commission is the only knob a validator sets on the vote account that directly affects delegators. A 10% commission means the validator keeps a tenth of the rewards earned on delegated stake; the rest flows to the stake accounts proportional to their warmed-up stake.