Reference Tracker · Texas Governance Reform
SB 29 Adopters.
The data
Publicly-disclosed SB 29 adoptions by public companies, verified against each company's filed charter and bylaws. Click column headers to sort. Derivative Threshold is the minimum ownership a shareholder needs to bring a derivative suit; SB 29 lets a company set it at up to 3%.
| Company | Ticker | Redomestication | Adoption Date | BJR Opt-In | Exclusive Forum | Jury Waiver | Derivative Threshold |
|---|---|---|---|---|---|---|---|
| Tesla, Inc. | TSLA | Delaware → Texas (June 13, 2024) | Bylaws, May 15, 2025 | Automatic (exchange-listed) | Yes, Texas Business Court (Austin) | Yes | 3% |
| Coinbase Global, Inc. | COIN | Delaware → Texas (Dec. 15, 2025) | December 15, 2025 | Automatic (exchange-listed) | Yes, Texas Business Court (Dallas) | Yes | 3% |
| Eightco Holdings Inc. | ORBS | Delaware → Texas (Feb. 2, 2026) | Bylaws, February 5, 2026 | Automatic (exchange-listed); also expressly elected | Yes, Texas Business Court (Dallas) | Yes | 3% |
| Forward Industries, Inc. | FWDI | New York → Texas (Mar. 5, 2026) | March 5, 2026 | Automatic (exchange-listed); also expressly elected | Yes, Texas Business Court (Dallas) | Yes | 3% |
| ArcBest Corporation | ARCB | Delaware → Texas (May 15, 2026) | May 15, 2026 | Automatic (exchange-listed) | Yes, Texas Business Court (Dallas) | Yes | None (expressly opted out) |
| TTEC Holdings, Inc. | TTEC | Delaware → Texas (May 22, 2026) | May 22, 2026 | Automatic (exchange-listed); also expressly elected | Yes, Texas Business Court (Austin) | Yes | 3% |
| Dream Finders Homes, Inc. | DFH | Delaware → Texas (June 9, 2026) | June 9, 2026 | Automatic (exchange-listed) | Yes, Texas Business Court (Dallas) | Yes | 1% |
| AGNT, Inc. (formerly eXp World Holdings) | AGNT | Delaware → Texas (June 11, 2026) | June 11, 2026 | Automatic (exchange-listed); also expressly elected | Yes, Texas Business Court (Houston) | Yes | 3% |
| Voyager Technologies, Inc. | VOYG | Delaware → Texas (June 18, 2026) | June 18, 2026 | Automatic (exchange-listed); also expressly elected | Yes, Texas Business Court (Houston) | Yes | 1% |
| Exxon Mobil Corporation | XOM | New Jersey → Texas (July 1, 2026) | July 1, 2026 | Automatic (exchange-listed) | Yes, federal court (S.D. Tex.) first; Texas Business Court (Houston) as fallback | No | None |
| Dell Technologies Inc. | DELL | Delaware → Texas (July 1, 2026) | July 1, 2026 (SB 1057 proposal thresholds added by bylaw July 2, 2026) | Automatic (exchange-listed); also expressly elected | Yes, Texas Business Court (Austin) | Yes | 3% |
Last updated: September 28, 2026 · Every row re-verified against filed charters and bylaws: recorded 2026 shareholder-vote outcomes and effective dates, added Eightco Holdings, Forward Industries and Voyager Technologies, and removed Texas Capital Bancshares and Weatherford International, whose Texas proposals failed. Updated as verified disclosures emerge.
Methodology and sources
Take the data
All 11 rows of the table above, exactly as published. Download CSVDownload JSON
Free to use, republish and build on, with attribution, under CC BY 4.0. Last verified September 28, 2026. Corrections to hello@kraus.law.
Charles R. Kraus, SB 29 Adopters, Kraus Law (last updated September 28, 2026), https://www.kraus.law/trackers/sb-29-adopters/.
What this tracker includes
Public companies that have publicly disclosed in their proxy statements, charter amendments, or board materials that they are adopting one or more SB 29 opt-in provisions. The current universe is largely public companies redomesticating to Texas during the 2025-26 proxy seasons, whose charter amendments incorporate the relevant Texas governance framework.
This is intentionally a narrower scope than "all entities benefiting from SB 29", many SB 29 provisions apply automatically to public corporations listed on national securities exchanges (codified business judgment rule), and private entity adoptions are generally not public records.
The four trackable provisions
BJR Opt-In, Codified business judgment rule under TBOC § 21.419(c). Applies automatically to publicly-traded Texas corporations; private entities must affirmatively elect in their governing documents.
Exclusive Texas Forum, TBOC § 2.115(b)(2). Allows entities to designate a specific Texas court (typically the Texas Business Court) as exclusive forum for internal entity claims.
Jury Trial Waiver, TBOC § 2.116. Allows entities to include binding jury trial waiver in governing documents for internal entity claims.
3% Derivative Threshold, TBOC § 21.552(a)(3). Allows public corporations (and corporations with 500+ shareholders that have elected the BJR) to require shareholders to own a set percentage of shares, up to 3%, to bring derivative actions.
What this tracker does not include
Private LLCs and limited partnerships adopting SB 29's expanded fiduciary duty modification provisions, these adoptions are generally not public records and cannot be reliably tracked. Existing Texas corporations that have amended their bylaws without making public disclosures are also not captured.
Compiled by Kraus Law PLLC. Corrections or additions welcome at hello@kraus.law.
Patterns and observations
What the first year of SB 29 adoption tells us about Texas governance reform.
Adoption is concentrated in redomesticators
The companies publicly disclosing SB 29 adoption are overwhelmingly companies redomesticating to Texas from Delaware (or other jurisdictions). Their new Texas charters and bylaws typically include an exclusive Texas Business Court forum and a jury trial waiver as part of the redomestication package. The derivative ownership threshold varies more: 3% at Dell, TTEC and Coinbase, 1% at Dream Finders Homes and Voyager, and none at ArcBest and ExxonMobil.
Existing Texas-domiciled companies have been slower to amend
Texas-domiciled public companies that have NOT redomesticated have been slower to amend their existing charters to opt in to SB 29 provisions. This may reflect: (1) the absence of an immediate trigger (charter amendments typically piggyback on other amendments); (2) the absence of clear case-law guidance on enforceability of certain provisions; (3) the practical reality that codified BJR already applies automatically to listed corporations. The 2027 proxy season may see broader Texas-domiciled adoption.
Private entity adoption is invisible
SB 29's most expansive provisions affect LLCs and limited partnerships, particularly the elimination or modification of fiduciary duties under TBOC § 101.401 (as amended). These adoptions occur in governing documents (operating agreements, partnership agreements) that are not public records. Conversations with Texas business law practitioners suggest significant private-entity adoption is occurring, but it cannot be tracked through public sources.
Exclusive Texas forum is the most-adopted provision
Every company in the table has an exclusive forum provision. Ten of the eleven name the Texas Business Court as the primary forum; ExxonMobil names federal court first, with the Business Court as the fallback. This is consistent with broader litigation strategy: companies want predictable forum, specialized commercial judges, and the bench-trial default of the Business Court.
Related reading and listening
Updating governance documents for SB 29?
Whether you're a Texas-domiciled company evaluating which opt-in provisions to adopt, a redomesticator drafting a new Texas charter, or an LLC considering fiduciary duty modifications, the specific decisions are entity-specific.
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