diff --git a/votes/initiateNewVote/_EDIT_ME.yml b/votes/initiateNewVote/_EDIT_ME.yml
index c9fac556..184cd8de 100644
--- a/votes/initiateNewVote/_EDIT_ME.yml
+++ b/votes/initiateNewVote/_EDIT_ME.yml
@@ -3,7 +3,7 @@
 
 # 1. Select a subject for the vote. This can be a question addressed to the TSC
 #    voting members.
-subject: REPLACEME
+subject: Choosing a marker to customize default exports returned by `require(esm)`
 
 # 2. You can leave the header instructions as is, or modify them if you see fit.
 headerInstructions: |
@@ -24,8 +24,8 @@ headerInstructions: |
 #    voters express their preference for each candidates, no matter how many
 #    there are.
 candidates:
-  - TODO
-  - TODO
+  - '`export { foo as "module.exports" };`'
+  - '`export const __cjsUnwrapDefault = true;`'
 
 # 4. Pass the following to false if it's important to keep the candidates in the
 #    order you define above. Presenting candidates in a fixed order tends to
@@ -35,10 +35,64 @@ canShuffleCandidates: true
 # 5. Insert here a short description of the vote objectives and link to the
 #    issue it was discussed on to give the full context.
 footerInstructions: |
-  TBD
+  This is a follow-up to the naming bikeshed in https://github.com/nodejs/loaders/issues/221
+  which is for the implementation in https://github.com/nodejs/node/pull/54563
+  and the follow-on issue in https://github.com/nodejs/node/pull/53848
+  A short summary can be found in https://github.com/nodejs/node/pull/54563#pullrequestreview-2288424604
 
 # 6. Optionally, insert a brief introduction for the vote PR, in the markdown format.
 prBody: |
+  When a user have an existing CommonJS package like this:
+
+  ```js
+  // foo package:
+  module.exports = function foo () { };
+
+  // ESM users get...
+  import foo from 'foo';
+  // CommmonJS users get..
+  const foo = require('foo');
+  ```
+
+  Now that `require(esm)` is possible and they can ship ESM to their CommonJS users without breaking them, they would try something like this:
+
+  ```js
+  // foo package
+  export default function foo () { };
+
+  // ESM users get...
+  import foo from 'foo';
+  // CommmonJS users get..
+  const foo = require('foo').default;   // <--- This is now different!
+  ```
+
+  As you can see, for CommonJS consumers this will not be exactly equivalent. Since in ESM the default exports is a property of the name space, they need to access `.default` from the result returned by
+  `require(esm)`. So the idea is that Node.js can take a marker from package authors to directly customize what `require(esm)` returns in this case.
+  To keep `const foo = require('foo')` working, the two proposed markers are:
+
+  ```js
+  export default function foo () { };
+  export const __cjsUnwrapDefault = true;
+  ```
+
+  or
+
+  ```js
+  export default function foo () { };
+  export { foo as "module.exports" };
+  ```
+
+  Further to this vote, there is [a follow-on proposal](https://github.com/nodejs/node/pull/53848) to reuse this marker on namespaces representing CJS modules imported into ESM, where attaching this marker would effectively define a scheme for converting CJS into ESM that would retain full transitive interop semantics allowing arbitrary CJS to be converted into ESM as a non-breaking change.
+
+  Under this follow-on marking, when importing some CJS module `bar` into ESM:
+
+  ```js
+    module.exports = 'bar';
+  ```
+
+  Users importing with `console.log(await import('bar'))` would obtain a namespace object either of the form `ModuleNamespace { __cjsUnwrapDefault: true, default: 'bar' }` or `ModuleNamespace { default: 'bar', 'module.exports': 'bar' }` depending on which option is chosen for this first PR.
+
+  The vote should stay open for 7 days, or until all TSC voting members have cast a ballot.
 
 # 7. Optionally, choose an id that will be used for the branch name as well as
 #    the vote folder name. If not supplied, a UUID will be used.