Exxon Mobil Files Additional Proxy Materials

TL;DR

XOM dropped more proxy docs, no fee. Standard stuff.

AI Summary

Exxon Mobil Corporation (XOM) filed a Definitive Additional Materials proxy statement on May 10, 2024. This filing is related to the company's proxy statement and does not involve a fee, as indicated by the 'No fee required' checkbox. The filing is for definitive additional materials, suggesting it supplements previously filed proxy information.

Why It Matters

This filing provides supplemental information to shareholders regarding Exxon Mobil's corporate governance and voting matters, which is crucial for informed decision-making by investors.

Risk Assessment

Risk Level: low — This filing is a routine proxy statement supplement and does not contain new financial information or significant corporate actions that would typically pose a risk.

Key Players & Entities

• EXXON MOBIL CORP (company) — Registrant
• 0000034088 (company) — Central Index Key
• 20240510 (date) — Filing Date

FAQ

From the Filing

0001193125-24-135807.txt : 20240510 0001193125-24-135807.hdr.sgml : 20240510 20240510093856 ACCESSION NUMBER: 0001193125-24-135807 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20240510 DATE AS OF CHANGE: 20240510 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EXXON MOBIL CORP CENTRAL INDEX KEY: 0000034088 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 135409005 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-02256 FILM NUMBER: 24933139 BUSINESS ADDRESS: STREET 1: 22777 SPRINGWOODS VILLAGE PARKWAY CITY: SPRING STATE: TX ZIP: 77389-1425 BUSINESS PHONE: 9729406000 MAIL ADDRESS: STREET 1: 22777 SPRINGWOODS VILLAGE PARKWAY CITY: SPRING STATE: TX ZIP: 77389-1425 FORMER COMPANY: FORMER CONFORMED NAME: EXXON CORP DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: STANDARD OIL CO OF NEW JERSEY DATE OF NAME CHANGE: 19721123 DEFA14A 1 d819402ddefa14a.htm DEFA14A DEFA14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ☒        Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Definitive Proxy Statement ☒ Definitive Additional Materials ☐ Soliciting Material under § 240.14a-12 EXXON MOBIL CORPORATION (Name of Registrant as Specified In Its Charter) NOT APPLICABLE (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): ☒ No fee required ☐ Fee paid previously with preliminary materials ☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. Exxon Mobil Corporation Kerrie-Anne Lanigan 22777 Springwoods Village Pkwy Director, Investor Relations Spring, TX 77389 May 10, 2024 Re: Supplemental Information Related to Item 3 – Advisory Vote to Approve Executive Compensation Dear Investor, The 2024 Proxy Statement outlines ExxonMobil’s executive compensation program, which ties compensation to long-term shareholder value creation and success in a lower-emissions future, and 2023 pay decisions. At time of filing, 2023 data for compensation benchmark companies was not yet available. The following charts, included on page 61 of the CD&A, have been updated for the most recent 1- and 10-year time periods. This also updates all other references to ExxonMobil’s rank percentile in the CD&A. The strength of the program design is demonstrated across dynamic market conditions and complex business environment; highly performance based, tied to business and individual performance, and resulting in a greater degree of volatility versus compensation programs of benchmark companies. 2023 CEO Total Direct Compensation is down 10 percent versus 2022, reflective of reduced earnings and lower stock price. 78 percent of Total Direct Compensation is delivered in the form of performance shares – $103.11 at 2023 grant, down from $110.84 at 2022 grant. Performance shares have uniquely long restriction periods, 50% vests in 5 years and 50% in 10 years from grant date with no acceleration at time of retirement. In assessing the appropriateness of pay levels, the Compensation Committee considers scale and complexity, along with strong business results across all performance dimensions. ExxonMobil remains the largest across benchmark companies, as illustrated on page 57 of the CD&A. That said, while 1-year Total Direct Compensation is at the 97 th percentile of compensation benchmark companies, down from the 100 th percentile in 2022, 10-year Realized and Unreali