North Carolina will withhold its shareholder votes for five directors at Exxon Mobil Corp.’s annual meeting this week to protest high executive pay as gasoline prices soar, State Treasurer Richard Moore said Tuesday.

Grabbing on to an issue popular among voters, Moore said the North Carolina retirement system will decline to support the re-election of the directors who have served on the board’s compensation committee. The system owns 11 million shares of Exxon Mobil stock valued at $663 million. The company’s annual meeting is today in Dallas.