Engaging with shareholders

Overview

The Nominating and Governance Committee has established procedures for shareholders and other interested parties to communicate with Board members. Individuals can email our non-employee directors through the corporate governance page of our website. All communications are recorded by an ExxonMobil assistant secretary or designated staff member and forwarded to the appropriate director or directors or otherwise handled as the Nominating and Governance Committee has directed.

Every year, shareholders or their proxies may submit proposals regarding operations or governance. Company management and the Board consider each proposal and management seeks a dialogue with the proposal sponsor. When speaking with shareholders, we actively listen and, where possible, look to find common ground, potential for improvement and a better understanding of the issues raised. More information can be found in ExxonMobil’s 2022 proxy statement.

Performance and initiatives

ExxonMobil engages with shareholders or their proxies on a range of issues. Since 2016, we have more than doubled the number of sessions we hold on ESG issues with institutional investors, pension funds and labor, religious and nongovernmental organizations. In 2021, we held approximately 145 of these sessions with shareholders owning nearly 1.7 billion shares. The sessions comprise an estimated 77% of outstanding stock held by institutional investors and about 41% of total shares outstanding. These shareholder engagements can often eliminate the need for more formal shareholder proposals at the annual shareholders meeting.

At the 2022 annual meeting, shareholders owning approximately 3.4 billion outstanding shares, or over 80%, were represented. In 2022, shareholders voted on 10 issues, including seven shareholder proposals. More information on the voting outcomes can be found in the 2022 proxy voting results.