MFDF Directed Voting Program
Separate SEC staff position for registered funds and BDCs, with independent-director approval and fund-specific exclusions.
SEC response ↗Home / Program Tracker
ISSUER & FUND TRACKER
Programs
Programs
in market.
A documented census of organizations operating, announcing or establishing frameworks for standing retail voting instructions.
ISSUERS
Documented public-company programs.
| Organization | Status | Model | Key evidence |
|---|---|---|---|
| ExxonMobil First mover |
Launched Sep. 2025 First votes May 2026 |
All matters, or all except contested elections and specified transactions. | SEC letter ↗ |
| BigBear.ai Early adopter |
Live for Jun. 2026 meeting | Exxon-style standing instructions with meeting override and future cancellation. | 2026 proxy ↗ |
| Goldman Sachs Expanded enrollment |
Announced Sep. 28, 2026 | Board-aligned instructions with pre-proxy enrollment and wider communications. | SEC request ↗ |
| Tesla Reusable framework |
SEC response Sep. 29, 2026 | Issuer framework with Hubs, householding and broader eligibility. | SEC framework ↗ |
ADJACENT
Fund and private-market frameworks.
Investcorp US Private Credit BDC II
An SEC-filed subscription agreement includes opt-in board-aligned retail voting selections with advisory-contract exclusions.
Filed agreement ↗Vanguard Investor Choice
Not an issuer IVRVP. Investors select policies applied proportionally to votes on portfolio-company shares.
Program data ↗
FEATURES
What the issuer framework contains.
Opt inSilence is not an instruction.
2 pathsAll matters, or specified exclusions.
OverrideA later meeting vote controls.
CancelFree exit for future meetings.