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Exxon Mobil | PX14A6G: Notice of exempt solicitation

SEC announcement ·  May 29 03:28
Summary by Futu AI
Bowyer Research has submitted a notice of exempt solicitation to the U.S. Securities and Exchange Commission, advocating for the current board of directors at Exxon Mobil. The notice, dated May 23, 2024, includes a letter addressed to BlackRock CEO Larry Fink from 21 State Financial Officers across 19 states. The officers urge BlackRock to resist pressure to vote against Exxon Mobil's board, which is facing challenges from shareholder activists. The letter criticizes the increasing frequency of ESG proposals, which are seen as politically motivated rather than focused on investment returns. It highlights the financial burden these proposals place on companies, with Exxon Mobil spending an estimated $21 million in defense. The State Financial Officers emphasize their fiduciary duty to seek returns for beneficiaries, aligning with Exxon's duty to its shareholders. The letter also references the views of CEOs from JPMorgan Chase and Goldman Sachs on the current state of shareholder meetings and the politicization of ESG issues.
Bowyer Research has submitted a notice of exempt solicitation to the U.S. Securities and Exchange Commission, advocating for the current board of directors at Exxon Mobil. The notice, dated May 23, 2024, includes a letter addressed to BlackRock CEO Larry Fink from 21 State Financial Officers across 19 states. The officers urge BlackRock to resist pressure to vote against Exxon Mobil's board, which is facing challenges from shareholder activists. The letter criticizes the increasing frequency of ESG proposals, which are seen as politically motivated rather than focused on investment returns. It highlights the financial burden these proposals place on companies, with Exxon Mobil spending an estimated $21 million in defense. The State Financial Officers emphasize their fiduciary duty to seek returns for beneficiaries, aligning with Exxon's duty to its shareholders. The letter also references the views of CEOs from JPMorgan Chase and Goldman Sachs on the current state of shareholder meetings and the politicization of ESG issues.
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This announcement is a separate document:

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