Exxon Mobil Corporation | Vote on Item 4 - Texas Redomiciliation

Status
Filed
AGM date
Previous AGM date
Proposal number
4
Resolution details
Company ticker
XOM
Submitted by
Comptroller of the City of New York
Resolution ask
Other ask
ESG theme
  • Governance
ESG sub-theme
  • Other
Type of vote
Other management proposal or proxy item
Filer type
Management
Company sector
Energy
Company HQ country
United States
Supporting materials
  • Letter to Exxon Shareholders from NYC Comptroller Mark Levine_FINAL 1.pdf Download
Supporting statement
ExxonMobil is a Texas corporation in all but name, with most senior corporate executives and all corporate functions based in the state for the last 35 years. Texas’ executive, legislative, and judicial officers are familiar with the benefits ExxonMobil brings to the state. Texas has become one of the largest economies in the world, in part, because it has been deliberate in passing legislation and regulation designed to support innovation, job creation and economic growth strengthing shareholder value. Texas courts take a predictable, statute-oriented approach to corporate affairs. The Texas Redomiciliation is consistent with shareholder rights. It would change our state of incorporation, but it would not alter our commitment to protecting shareholder rights. The Company is not adopting any elective provisions of the Texas corporate statute that could be viewed as weakening shareholder rights as compared to NewJersey law in connection with the Texas Redomiciliation.

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