Exxon Mobil Corporation, a major energy company, has released additional materials related to its 2024 Proxy Statement, addressing several shareholder proposals ahead of its Annual Meeting. The company emphasized its dual role in providing affordable energy and reducing greenhouse gas emissions while focusing on long-term shareholder value. Exxon Mobil, with over 5 million shareholders, has expressed concerns that the current shareholder proposal process is not serving investors' best interests, citing an influx of repeat proposals that often fail to pass. The company's executive compensation program, which is over 70% performance-based, is designed to align with long-term shareholder returns and the energy transition. Exxon Mobil recommends voting against a proposal to revisit executive pay incentives for greenhouse gas emission reductions...Show More

Exxon Mobil Corporation, a major energy company, has released additional materials related to its 2024 Proxy Statement, addressing several shareholder proposals ahead of its Annual Meeting. The company emphasized its dual role in providing affordable energy and reducing greenhouse gas emissions while focusing on long-term shareholder value. Exxon Mobil, with over 5 million shareholders, has expressed concerns that the current shareholder proposal process is not serving investors' best interests, citing an influx of repeat proposals that often fail to pass. The company's executive compensation program, which is over 70% performance-based, is designed to align with long-term shareholder returns and the energy transition. Exxon Mobil recommends voting against a proposal to revisit executive pay incentives for greenhouse gas emission reductions (Item 4), stating that the current program is already robust and aligned with strategic goals. The company also opposes a proposal for an additional pay report on gender and racial basis (Item 5), arguing that their compensation is at parity and that they are a leader in pay gap disclosures. Furthermore, Exxon Mobil advises against a proposal for a report on plastic production under the System Change Scenario (Item 6), arguing that their business is resilient and that they are already addressing plastic waste through advanced recycling initiatives. Lastly, the company recommends voting against an additional social impact report (Item 7), highlighting their ongoing efforts in supporting a just transition and the extensive content in their Sustainability Report.