Why did ISS recommend shareholders vote against Exxon's proposal to move its incorporation to Texas?

ISS recommended shareholders vote against Exxon's proposal to move its incorporation from New Jersey to Texas because 'this would impose greater hurdles for shareholders seeking accountability for directors and officers.'

What is the purpose of the resolution supported by ISS and filed by the New York City Police Pension Fund?

The resolution, tabled by the New York City Police Pension Fund and supported by ISS, aims 'at making it easier for retail investors to vote against the board's wishes,' while Exxon's board has stated it opposes the resolution.

ISS Recommends Shareholders Vote Against Exxon Moving Registration to Texas

May 12, 2026

Institutional Shareholder Services advised investors to oppose Exxon Mobil's proposal to reincorporate in Texas, citing increased hurdles for shareholder accountability. ISS also supported a resolution to facilitate retail investor voting against the board.

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ISS Recommends Shareholders Vote Against Exxon Moving Registration to Texas

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