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Exxon Mobil | PX14A6G: Notice of exempt solicitation

SEC announcement ·  May 20 21:05
Summary by Futu AI
The California Public Employees Retirement System (CalPERS), the largest state public pension fund in the U.S., is urging Exxon Mobil shareholders to vote against the company's Board of Directors at the upcoming annual meeting on May 29, 2024. CalPERS, which manages approximately $490 billion in assets and is a significant long-term ExxonMobil shareholder, has taken this stance following a lawsuit filed by ExxonMobil in January 2024 against two shareholders over a resolution they had filed. Although the shareholders withdrew their proposal, ExxonMobil has not dropped the legal action. CalPERS has requested the company to cease the lawsuit, highlighting that it could undermine shareholder rights by circumventing the SEC Exchange Act Rule 14a-8, a process that allows shareholders a voice. CalPERS warns that the lawsuit may deter future shareholder proposals in the U.S. and is soliciting votes against the board without seeking proxy cards, bearing the cost of the solicitation through mail and telephone communication.
The California Public Employees Retirement System (CalPERS), the largest state public pension fund in the U.S., is urging Exxon Mobil shareholders to vote against the company's Board of Directors at the upcoming annual meeting on May 29, 2024. CalPERS, which manages approximately $490 billion in assets and is a significant long-term ExxonMobil shareholder, has taken this stance following a lawsuit filed by ExxonMobil in January 2024 against two shareholders over a resolution they had filed. Although the shareholders withdrew their proposal, ExxonMobil has not dropped the legal action. CalPERS has requested the company to cease the lawsuit, highlighting that it could undermine shareholder rights by circumventing the SEC Exchange Act Rule 14a-8, a process that allows shareholders a voice. CalPERS warns that the lawsuit may deter future shareholder proposals in the U.S. and is soliciting votes against the board without seeking proxy cards, bearing the cost of the solicitation through mail and telephone communication.
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This announcement is a separate document:

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