Texas vs. Delaware: What Boards Should Know Before Making the Move

Why the corporate migration conversation is heating up — and what real data shows

As corporate governance laws shift, more boards are asking the same question:
Is it time to leave Delaware for Texas?

Using CompanyIQ® SEC disclosure data, Agenda looks at why some companies are selecting Texas for incorporation.

Texas has aggressively positioned itself as the new home for corporate America — or as the Texas Governor calls it, “Y’all Street.” New laws aim to make the state more management-friendly, with higher shareholder proposal thresholds, litigation reforms, and even the launch of a Texas stock exchange. Companies like Tesla and Coinbase have already made the move.

But is this a trend — or just headlines?

The Reality: Delaware Still Dominates

According to MyLogIQ public company intelligence data, the market still overwhelmingly favors Delaware:

• 91% of companies with a market cap over $5B went public in Delaware in 2025
• Only 9% chose Texas
• Since 2023, 6 large-cap companies reincorporated into Delaware
• Only 1 reincorporated into Texas
• Nevada attracts more moves than Texas, but still falls behind Delaware

Using MyLogIQ’s public company intelligence platform, boards and their advisors can:

• Track state-by-state IPO and reincorporation trends across indices like the Russell 3000 and Fortune 500.
• Benchmark their peer group’s incorporation choices and governance structures.

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