Cray Inc.
Extract: Bylaws Amendment (Plain English Desc) from a 8-K on 06/24/2019   Download
SEC Document
SEC Filing
On June 23, 2019, the Board of Directors (the “Board”) of Cray Inc. (the “Company”) approved the fourth amendment (the “Amendment”) to the Company’s Amended and Restated Bylaws, as amended, which Amendment became effective immediately. The Amendment provides that (i) the Board may postpone, reschedule (to a date and time determined by the Board) or cancel any previously scheduled annual or special meeting of shareholders, provided that subject to applicable law, any adjournment, postponement or rescheduling of such meeting or the announcement thereof will not commence a new time period for the giving of a shareholder’s notice; (ii) if a quorum fails to attend any meeting of shareholders, the chairperson of such meeting or, if directed to be voted on by the chairperson of such meeting, the holders of a majority of the voting power of the shares entitled to vote who are present in person or represented by proxy at such meeting may adjourn the meeting; and (iii) meetings of shareholders will be presided over by (a) such person as designated by the Board, or (b) in the absence of such person, the Chairman of the Board, or, (c) in the absence of such person, the Chief Executive Officer of the Company.