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Exxon Mobil Corp (XOM) holds its 2026 annual shareholder meeting on . The board is presenting 12 director nominees, of whom 11 are designated as independent. Shareholders will vote on 6 proposals: 4 management-sponsored and 2 shareholder-sponsored. The record date is .
- Exxon Mobil Corp (XOM) holds its 2026 annual shareholder meeting on .
- The record date — the cutoff for shareholders eligible to vote — is .
- The board is presenting 12 director nominees, of whom 11 are designated as independent.
- Shareholders will vote on 6 proposals, of which 2 are shareholder-sponsored.
- Boardroom Alpha's board rating for XOM is B.
- XOM trailing-12-month total shareholder return: +57.5%.
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Market cap: $673.8BBoard: B1Y TSR: +57.5%
Proxy filing: View definitive proxy › · Filed
Top institutional holders · as of Mar 31, 2026
| Holder | % of shares | Position value |
|---|---|---|
| D. E. Shaw Co., Inc. Activist | 1.70% | $120M |
| D. E. Shaw Co., Inc. Activist | 0.53% | $37M |
| SIT INVESTMENT ASSOCIATES INC Activist | 0.18% | $0M |
| Ancora Advisors LLC Activist | 0.16% | $11M |
| Point72 Asset Management, L.P. Activist | 0.13% | $9M |
| Ancora Advisors LLC Activist | 0.03% | $2M |
| VANGUARD CAPITAL MANAGEMENT LLC | 654.29% | $46.01B |
| STATE STREET CORP | 516.06% | $36.29B |
| BlackRock, Inc. | 326.92% | $22.99B |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 278.96% | $19.62B |
Source: SEC 13F filings (latest quarter). Position value is the holder’s reported aggregate value at the as-of date.
The 2026 annual meeting slate for Exxon Mobil Corp (XOM) includes: Michael J. Angelakis (independent), Angela F. Braly (independent), Maria S. Dreyfus (independent), Gregory C. Garland (independent), John D. Harris II (independent), Kaisa H. Hietala (independent), Joseph L. Hooley (independent), Steven A. Kandarian (independent), Alexander A. Karsner (independent), Lawrence W. Kellner (independent), Dina Powell McCormick (independent), Darren W. Woods (not independent).
Director Nominees (12; 11 independent) · 8 of 12 matched to Boardroom Alpha forecast
| Nominee | Independence | Risk forecast | Background |
|---|---|---|---|
| Michael J. Angelakis | Independent | Watch
Prior 97.3%
|
Michael J. Angelakis served as Vice Chair and CFO of Comcast Corporation, and is currently Chairman and CEO of Atairos Management, L.P.
|
| Angela F. Braly | Independent | Watch
Prior 95.8% ↑ expected better
|
Angela Braly served as Chair, President, and CEO of WellPoint, Inc. from 2007 to 2012, and was previously CEO of Blue Cross Blue Shield of Missouri from 2003 to 2005.
|
| Maria S. Dreyfus | Independent | Healthy
Prior 98.3%
|
Maria Dreyfus is the CEO and Founder of Ardinall Investment Management and serves on the board of Exxon Mobil Corporation, with prior directorships at Pioneer Natural Resources and Macquarie Infrastructure Corporation.
|
| Gregory C. Garland | Independent | — |
No matched profile.
|
| John D. Harris II | Independent | — |
No matched profile.
|
| Kaisa H. Hietala | Independent | — |
No matched profile.
|
| Joseph L. Hooley | Independent | Watch
Prior 98.0% ↓ expected worse
|
Former Chair and CEO of State Street Corporation from 2011 to 2019, and currently lead independent director at Exxon Mobil Corporation.
Rules fired: R4_non_indep_on_compensation
|
| Steven A. Kandarian | Independent | Healthy
Prior 98.4%
|
Former CEO and CIO of MetLife with 14 years of senior executive leadership experience and expertise in risk management and capital allocation.
|
| Alexander A. Karsner | Independent | — |
No matched profile.
|
| Lawrence W. Kellner | Independent | Watch
Prior 96.9%
|
Lawrence W. Kellner served as CEO, COO, and Chair of Continental Airlines.
|
| Dina Powell McCormick | Independent | Healthy
Prior 98.4%
|
Dina Powell McCormick has experience leading Goldman Sachs' sustainability efforts and serves as an independent director since 2024, contributing expertise in geopolitical and economic matters.
|
| Darren W. Woods | Not independent | Watch
Prior 94.0% ↑ expected better
|
Darren Woods has over 30 years of global industry experience and was promoted to CEO after holding various senior leadership roles in international business units.
|
The 2026 annual meeting for Exxon Mobil Corp (XOM) carries 6 proposals: (1) Election of Directors — proposed by the board with the board recommending for; (2) Ratification of PricewaterhouseCoopers LLP as Independent Auditors — proposed by the board with the board recommending for; (3) Advisory Vote to Approve Executive Compensation (Say-on-Pay — proposed by the board with the board recommending for; (4) Approval of Texas Redomiciliation (Plan of Merger — proposed by the board with the board recommending for; (5) Shareholder Proposal — Independent Chair — proposed by a shareholder with the board recommending against; (6) Shareholder Proposal — Modify Voluntary Retail Voting Program to Provide Independent Options — proposed by a shareholder with the board recommending against.
Proposals on the Ballot (6)
| #1 |
Election of Directors
Management For
Vote to elect the Board-nominated slate of director nominees to serve until the next annual meeting.
|
| #2 |
Ratification of PricewaterhouseCoopers LLP as Independent Auditors
Management For
Vote to ratify the Audit Committee’s appointment of PricewaterhouseCoopers LLP as ExxonMobil’s independent registered public accounting firm for 2026.
|
| #3 |
Advisory Vote to Approve Executive Compensation (Say-on-Pay
Management For
Non-binding (advisory) vote to approve the compensation of the Named Executive Officers as disclosed in the proxy statement.
Detail ›This non-binding Say-on-Pay proposal asks shareholders to approve the compensation disclosed for the Named Executive Officers. Management seeks an affirmative advisory vote to confirm investor support for its pay approach: a program that is largely share‑denominated and long‑term focused (performance shares with 5‑ and 10‑year vesting), with significant pay‑at‑risk and clawback/forfeiture mechanisms. ExxonMobil argues its design aligns executives with multi‑decade capital decisions, rewards long‑term performance, and discourages short‑term risk taking through extended vesting and ownership requirements. The Board frames recent compensation outcomes as reflecting company performance, shareholder engagement, and benchmarking against selected peers, and it emphasizes governance safeguards — independent consultant input, no employment contracts or change‑in‑control severance, anti‑hedging rules, and forfeiture/clawback policies. The company’s position also notes strong stock ownership levels and that most pay is performance‑based, which it contends strengthens alignment with shareholders across cycles. Shareholders should view this as an advisory ratification of the Board’s pay philosophy rather than a binding change; the Board will continue to seek investor input each year, and management will use the vote as feedback but not as a contractual mandate. The Board recommends a FOR vote, citing program alignment with long time horizons of ExxonMobil’s capital projects and past investor support for the program. The potential counterargument is that the program’s complexity and unusually long vesting could produce volatility in perceived payouts and make peer comparison more difficult; critics may prefer simpler, formulaic metrics and shorter performance periods. Overall, this proposal is a standard annual advisory item that provides investors an opportunity to express support for or concerns about executive compensation design and its implementation.
|
| #4 |
Approval of Texas Redomiciliation (Plan of Merger
Management For
Vote to approve the redomiciliation of ExxonMobil from New Jersey to Texas to be effected through the Agreement and Plan of Merger (the “plan of merger”), creating ExxonMobil Holdings Corporation… more ›Vote to approve the redomiciliation of ExxonMobil from New Jersey to Texas to be effected through the Agreement and Plan of Merger (the “plan of merger”), creating ExxonMobil Holdings Corporation as the Texas parent.
Detail ›This management proposal asks shareholders to approve a plan of merger that will effect the redomiciliation of ExxonMobil from New Jersey to Texas by creating a Texas parent (ExxonMobil Holdings Corporation) and making the current Exxon Mobil Corporation a Texas‑domiciled subsidiary. Management’s rationale is operational and legal alignment: ExxonMobil’s executive team, headquarters, and substantial operations are already in Texas, and the Board believes Texas law and the Texas Business Court provide clearer statute‑oriented standards and legal predictability that support timely decision‑making and long‑term value creation. The Board emphasizes it will not adopt elective Texas statutory provisions that would weaken shareholder rights relative to New Jersey, and it expects no change in headquarters, employees, assets, or business operations; equity awards and listings are to carry over without interruption. The Company positions the change as preserving shareholder economic and voting rights while reducing litigation and regulatory uncertainty and improving alignment between legal and operational domicile. The Board also disclosed risks it considered: potential litigation challenging the redomiciliation, differences between Texas and New Jersey corporate law that could affect governance, and nonrecurring transaction costs and potential tax or regulatory consequences. Management conditioned the Merger on receiving required shareholder approval, stock exchange listing acceptance, receipt of customary tax opinions, and regulatory and third‑party consents. The Board recommends a FOR vote, arguing the benefits — legal certainty, governance clarity, and alignment with the Company’s practical home — outweigh the risks; opponents may point to differences in shareholder protections and the potential for litigation and transition costs.
|
| #5 |
Shareholder Proposal — Independent Chair
Shareholder Against
Shareholder proposal requesting the Board adopt a policy requiring separation of the Chair and CEO roles and that, whenever possible, the Chair be an independent director.
Detail ›This shareholder proposal asks ExxonMobil to adopt a binding policy and amend governing documents to require separation of the Chair and CEO roles and, whenever possible, appoint an independent director as Chair. The proponent’s core argument is that combining the CEO and Chair concentrates executive power, impairs independent oversight, and that governance best practices favor separation (citing proxy advisers and third‑party studies). Management’s counterargument is that ExxonMobil’s scale, capital intensity, and long investment horizons make a combined Chair/CEO more effective in aligning strategy and execution; it stresses the presence of a Lead Independent Director, a largely independent board, and repeated prior shareholder votes rejecting forced separation. Company‑specific context includes ExxonMobil’s claim of strong operating and TSR performance, recent board refreshment, and long‑standing governance structures (Lead Independent Director with defined authorities). Material considerations for an analyst: the proposal is recurring (defeated repeatedly), the Board says it will retain flexibility to change leadership structure if warranted, and the practical impact of adoption could constrain board discretion during strategic inflection points; litigation or proxy advisor influence are possible secondary effects. The governance tradeoff is therefore between formalizing separation to placate some governance stakeholders versus preserving board discretion to structure leadership for operational coherence in a complex, integrated energy company.
|
| #6 |
Shareholder Proposal — Modify Voluntary Retail Voting Program to Provide Independent Options
Shareholder Against
Shareholder proposal requesting the Board adopt policies to ensure the Voluntary Retail Voting Program offers retail investors multiple independent voting options (e.g., an 'against management' s… more ›Shareholder proposal requesting the Board adopt policies to ensure the Voluntary Retail Voting Program offers retail investors multiple independent voting options (e.g., an 'against management' standing instruction or independent/custom policies) so the program does not unduly advantage the Board’s recommendations.
Detail ›This shareholder proposal asks ExxonMobil to modify its Voluntary Retail Voting Program so retail participants can select standing instructions that are not automatically aligned with the Board’s recommendations (for example, an explicit ‘against management’ standing instruction or bespoke/custom policies). The proponent argues Exxon’s program as designed creates a company‑aligned standing instruction that may disproportionately advantage the Board and re‑creates the same automated‑voting concerns the Company previously criticized in the proxy advisor context. Management counters the request on legal and practical grounds: ExxonMobil obtained staff no‑action relief treating its program as a company solicitation and the company says it must ensure any solicitations comply with SEC proxy rules and state fiduciary duties; compelling the Company to solicit instructions opposed to the Board’s recommendations could be illegal or unworkable. Company disclosures emphasize that participation is voluntary, that retail sign‑ups have been strong, and that retail investors remain free to opt‑out and vote directly. For an analyst, key considerations include the SEC no‑action letter’s scope, potential state‑law fiduciary constraints on compelling a company to solicit against its recommendations, proxy‑rule compliance, retail participation rates to date, and whether alternative market solutions (third‑party retail voting offerings or investor‑run standing policies) could deliver the proponent’s objectives without legal risk to the Company. The Board recommends a vote AGAINST the proposal while acknowledging the goal of increasing retail participation and defending the current program’s legality and shareholder responsiveness.
|
Filing-extracted summary
Election of directors; ratification of PricewaterhouseCoopers LLP as independent auditors; advisory (non-binding) approval of executive compensation (Say-on-Pay); approval of ExxonMobil’s redomiciliation from New Jersey to Texas via the plan of merger; and two shareholder proposals: (5) an independent chair requirement and (6) modification of the Voluntary Retail Voting Program to offer independent voting options.
Recent key filings
| Quarterly report (10-Q) | View › | |
| Definitive proxy (DEF 14A) | View › | |
| Annual report (10-K) | View › | |
| Quarterly report (10-Q) | View › | |
| Quarterly report (10-Q) | View › | |
| Definitive proxy (DEF 14A) | View › |
About the risk forecast
The risk forecast scores each director on the company’s slate against Boardroom Alpha’s YoY Director-Vote Forecast model — three XGBoost classifiers that estimate the probability the director’s vote support falls below 70%, 80%, and 90% at the upcoming annual meeting, augmented by a five-rule governance escalation layer (overboarding, audit-committee composition, prior dissent, and others).
Bands map to those probability thresholds:
- Crisis — high probability of vote support below 70%. Rare.
- Material — high probability of below 80%. The primary screening threshold.
- Elevated — significant elevated risk of dissent.
- Watch — even a mild withhold is detectable. Informational.
- Healthy — no signal of meaningful dissent.
Prior is the director’s most-recent vote-support percentage at this same board. Direction compares the forecast to that prior vote: ↑ expected better means more support than last year; ↓ expected worse means less.
Forecast applies only to non-contested annual proxies (DEF 14A). Contested situations are tracked separately on the contested-proxy pipeline. The model is retrained nightly; bands shown reflect the most recent run.
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Frequently Asked Questions
When is the Exxon Mobil Corp 2026 annual meeting?
Exxon Mobil Corp (XOM) holds its 2026 annual shareholder meeting on .
What is the record date for the Exxon Mobil Corp 2026 meeting?
The record date for the Exxon Mobil Corp 2026 meeting is . Shareholders of record on or before that date are eligible to vote.
Who are the director nominees for Exxon Mobil Corp's 2026 meeting?
The board is presenting 12 director nominees at the Exxon Mobil Corp 2026 meeting. The full slate appears in the 'Director Nominees' table on this page, with independence designations and a structured indexable summary.
What proposals will shareholders vote on at the Exxon Mobil Corp 2026 meeting?
Shareholders will vote on 6 proposals at the Exxon Mobil Corp 2026 meeting. The full list with proposed-by tags and management recommendations appears in the 'Proposals on the Ballot' section on this page.
Where do I find the original proxy filing?
The 'View proxy' link at the top of this page opens the original SEC DEF 14A (or amended) filing for the Exxon Mobil Corp 2026 meeting in the Boardroom Alpha filing viewer.