Engine No. 1 Activist Presentation Deck
Inverse relationship between management compensation
and performance for shareholders
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From 2017-19, ExxonMobil's total
return was -(12)% and share
repurchases were effectively halted
in 2017, yet CEO compensation rose
35% during this period
While 2020 CEO compensation was
down 33%, ~72% of this reduction
was due to the temporary COVID-
related decline in the stock price,
and the number of shares awarded
increased 14%
Stock awards, the largest
discretionary compensation
component (~60%), have grown
every year from 2017-2020.
• In total from 2017 through 2020,
CEO pay has totaled over $75
million
Source: ExxonMobil proxy statements.
ExxonMobil Market Cap. vs. CEO Stock Awards
Company Market Capitalization ($ Billion)
$400
$350
$300
$250
$200
$150
$100
inform
$355
Dec 2016
132
Dec 2017
Market Cap
150
Dec 2018
Dec 2019
CEO Stock awarded
205
220
210
200
190
180
170
160
$156 150
140
130
120
Dec 2020
# of shares awarded to CEO (in '000s)
REENERGIZE
EXXON//
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