Proxy Firm ISS Backs Texas Move for Small Natural Gas Company

In Institutional Shareholder Services’ first recommendation in favor of a Texas reincorporation since 2024, the major proxy advisory firm endorsed a small natural gas infrastructure company’s proposed move to the Lone Star State.

The last time ISS recommended in favor of a Texas reincorporation was when it backed Tesla Inc.’s plan to move out of Delaware. The firm, along with fellow adviser Glass, Lewis & Co., has since raised concerns about the state’s 2025 suite of legislation allowing companies to restrict shareholder proposals and certain lawsuits.

The recommendation that shareholders support shifting Natural Gas Services Group Inc.’s legal home away ...