The proxy-advisor question lives at the intersection of redomiciliation outcomes, business-court adjudication, weekly regulatory monitoring, the ExxonMobil case, and the Texas Corporate Law architecture. Each property below carries its own primary-source discipline and is updated independently.21
SMU CGI · Tracker
The Reincorporation Index
Every NJ→TX, DE→TX, and DE→NV redomiciliation tracked with primary-source verification. The cohort against which ExxonMobil’s recommendation-pattern allegation is testable.
tracker.smucgi.org
SMU CGI · Codex
The Texas Business Court Codex
117-opinion corpus (as of Aug. 5, 2026) of Texas Business Court decisions with doctrinal coding, full-text search, and per-year citation indexing.
smucgi.org/research/texas-business-court/dashboard/
SMU CGI · Publication
The Hilltop Docket
Weekly monitor of the Texas Business Court and adjacent corporate-law dockets.
smucgi.org/hilltop-docket/
SMU CGI · Brief
The ExxonMobil Redomestication Brief
Doctrinal and empirical analysis of ExxonMobil’s completed New Jersey→Texas redomestication (approved May 27, 2026; effective July 1, 2026), including issuer-side analysis of the May 2026 DEFA14A series.
exxon-publication.pages.dev
SMU CGI · Vertical 02
Texas Corporate Law
The TBOC architecture in which proxy-advisor regulation sits — including the 2025 reform cycle (S.B. 29, S.B. 1057, H.B. 40) and the Business Court / Fifteenth Court of Appeals adjudicatory infrastructure.
smucgi.org/research/texas-corporate-law/
Synthesis — what this vertical does, and what it does not do
This vertical reports the regulatory and litigation infrastructure shaping proxy-advisor practice in May 2026 from primary sources, with explicit allegation discipline. It also flags the empirical layers (recommendations, methodology, dissent, conflicts) still building toward Q1 2027 cadence.
It does not adopt either the State of Texas’s pleadings or ExxonMobil’s issuer-side allegations as findings. The May 20, 2026 Collin County DTPA petition is a primary source for what the State alleged; the May 12 + 15, 2026 ExxonMobil DEFA14A filings are primary sources for what ExxonMobil alleged. Both will be tested over time against court rulings and empirical data — and SMU CGI will report those tests with the same primary-source discipline that governs this page now.
FIGURE · ADVISOR FOOTPRINT (ILLUSTRATIVE)
Two firms cover the substantial majority of U.S. proxy ballots.
ISS and Glass Lewis are the two large institutional proxy advisors; smaller advisors (Egan-Jones, Segal Marco) and in-house investor stewardship teams cover the remainder. Numerical bands are illustrative — precise market-share statistics vary by source and survey window. Congressional testimony in May 2025 put the two firms’ combined share at “over 97%” of the U.S. proxy-advice market (Crain (NAM) testimony, House Fin. Servs. hearing (May 2025)); no measured public market-share series exists, and the allocation shown below remains illustrative.
- ISS—
- Glass Lewis—
- Other—
How to read. Each ring segment is an advisor or advisor group; the percentage is an illustrative band consistent with the institutional-landscape paragraph in § 1 above. Treat this as orientation, not a citable market-share statistic; ISS and Glass Lewis ownership-status facts (Deutsche Börse / STOXX and Peloton Capital Management / Stephen Smith, respectively) are stated directly because they are documented in primary corporate-communications materials.
Sources. ISS / Deutsche Börse; Glass Lewis; Choi, Fisch & Kahan, 59 Emory L.J. 869 (2010); Malenko & Shen, 29 Rev. Fin. Stud. 3394 (2016); SMU CGI cites each effect-size estimate to the specific study that supports it (see § 1 above).