Standing voting instruction programmes are emerging as an important development in proxy voting as issuers look to increase shareholder engagement and make every investor’s voice heard. 
By providing retail shareholders with an option to establish durable voting preferences and to override their votes on individual matters, these technologies can help issuers increase participation, reduce solicitation costs, and gain greater insight into investor sentiment.
Broadridge’s annual statistics on proxy voting find that retail shareholders vote just under 30% of the shares they own, and that standing instructions programmes can engage large numbers of new voters.
Against this backdrop, standing voting instructions offer issuers and the intermediaries that serve their shareholders a practical way to address low voting activity while preserving shareholder choice and control.
To facilitate standing voting instructions programmes, issuers enter into an agreement with participating retail shareholders regarding how their proxies will be voted based on recommendations of the board of directors.
The approach is attracting interest because the model addresses a persistent challenge for many retail shareholders: proxy voting requires time, attention, and, often, an assessment of numerous proposals each year. ExxonMobil, which worked closely with Broadridge on its standing voting instruction programme, has noted that many of its retail investors are retirees who rely on the company’s dividends and may face a substantial number of voting decisions.
That challenge is not unique to ExxonMobil; long-term retail shareholders across public companies have similar needs when it comes to shareholder engagement.
But for issuers, the benefits go beyond greater investor participation. A broader retail response can help reduce the uncertainty and expense associated with reaching quorum, add even more value to shareholder communications, and provide a more complete view of shareholder sentiment over time. These programmes can also support a closer dialogue with retail investors.
The model can also create advantages across the broader proxy ecosystem, offering custodians, banks, and brokers a value-added service that gives retail clients a simpler, more convenient way to participate in corporate governance.
How standing voting instructions work
The US Securities and Exchange Commission in 2025 outlined the contours of standing voting instructions when it issued a no-action response to ExxonMobil regarding its proposed retail voting programme.
For market participants, the relief was notable not only as a development in issuer governance but also as a signal that standing instructions could become a more meaningful component of the proxy-processing landscape.
The programme begins with proxy materials delivered to investors in an easy-to-read, customized format that incorporates both the issuer’s branding and that of the bank or broker holding the account. A link is provided to the enrollment website where shareholders can review the mechanics and make choices.
Shareholders who enroll continue to receive proxy materials as usual and can override their instructions at any time by voting through the standard process, which takes precedence over the standing instructions.
The programme is built on voluntary, affirmative enrollment; continued delivery of proxy materials; and annual reminders.
Designed this way, standing instructions can make retail participation more continuous without diminishing investor control or the ability to engage deeply on a specific proposal.
Issuers, however, should note that successful implementation takes commitment, and they should begin evaluating standing voting instructions well ahead of their next proxy season. A programme requires thoughtful planning, legal and regulatory review, and close coordination across investor relations, the corporate secretary’s office, legal, senior management, and other key stakeholders.
For the securities-services industry, the opportunity also requires careful execution. Programmes must incorporate clear affirmative consent, reliable shareholder communications, an effective process for changes and overrides, and controls that provide an auditable record of each investor’s instruction.
Early results show strong promise
Standing voting instructions offer a practical and innovative alternative to traditional shareholder proxy voting. The aim is to make participation easier and more representative of all shareholders.
ExxonMobil’s programme leveraged a large network of US broker-dealers to effectively reach and communicate with shareholders.
ExxonMobil’s 2026 proxy materials reported that more than 100,000 retail shareholders had enrolled, representing more than 3% of the company’s outstanding shares and approximately 150 million shares across all or selected matters.
ExxonMobil’s response rate suggests that convenience, when paired with a clear choice, can help engage investors who might otherwise remain passive.
Broadridge is working with other customers on standing voting instructions and has seen the programmes produce stronger engagement among prior voters, non-voters, and new shareholders alike.
Done well, the significance of standing voting instructions may extend beyond higher vote totals. The model could strengthen the connection between public companies and their retail owners while preserving shareholder choice, informed participation, and control.