Source of truth · every candidate accounted for

The 85-firm reincorporation funnel

Generated at deploy from public_firms.json — the canonical matrix (73/85 primary-verified) · every count below is computed live from the embedded list, which is regenerated from the matrix on every deploy — nothing is hand-typed. Built to share with reviewers; click any segment to see its firms.

Legally effective Approved, pending effective Scheduled Failed Other

Level 1 — where is each move in its lifecycle?

All candidates split by lifecycle tier: legally effective (the reincorporation is in force) vs approved, pending effective (shareholders approved; the conversion certificate is not yet effective), then scheduled, failed, and other (merged / removed / proposed / IPO). Tiers are derived from the canonical matrix.

Level 2 — where did they go?

All candidates by destination state. “Back to Delaware” is the counterflow (the reverse move). UAMY shown under its verified state (see note).

Level 3 — of the Texas-bound movers, who elected the new Texas governance amendments?

Texas movers only, by their TBOC §21.552 3% derivative-suit threshold election (the opt-in governance choice). Source: the tboc_21_552_election field folded into the canonical matrix (public_firms.json); seeded from the vetted §21.552 adopter coding.

What is NOT in these candidates. These are the reincorporation candidates (firms that moved, are moving, or were proposed to move). The 62 already-Texas incumbents (the never-moved control panel, incl. the 8 incumbent §21.552 adopters such as Southwest, CenterPoint, Service Corp.) are a separate set and are deliberately not counted here. Reviewers: tell us if you want the incumbents folded into a combined view.

Every firm, every bucket — the full list

group by: status · click a column header to sort · links open the EDGAR filing.

SMU Cox · Corporate Governance Initiative. This funnel is a descriptive accounting of tracked reincorporation candidates; it is not legal or investment advice. Counts hydrate at load from the embedded source list, which is regenerated at deploy from public_firms.json — the canonical matrix — via pipeline/build_funnel_85.py. Source: public_firms.json (the matrix).