ExxonMobil gets SEC approval for automatic voting program for retail shareholders.

The SEC has granted ExxonMobil a no-action letter allowing a retail voting program where individual shareholders can opt in to have their votes automatically follow the board’s recommendations. The program, available at no cost, aims to boost participation and help ensure quorums, especially as broker voting rules change. Retail investors can opt out anytime and still receive proxy materials. Investment advisers are excluded. The move signals regulatory openness to voting innovations and may serve as a model for other companies with large retail investor bases, though implementation costs and benefits depend on shareholder structure.