Salem Media Group, Inc.
Extract: Bylaws Amended/Restated (Plain English Desc) from a 8-K on 09/17/2019   Download
SEC Document
SEC Filing

On September 11, 2019, after the resignations of Messrs. Venverloh, Lewis, Atsinger, and Epperson, the Board amended and restated the Company’s Bylaws effective immediately. The third amended and restated Bylaws were approved by the Board to change the number of board of directors to not less than three (3) nor more than nine (9) members. The text of Section 3.2 of Article III of the Company’s Bylaws, as amended, reads as follows:

“The board of directors shall consist of not less than three (3) nor more than nine (9) members, with the exact number within that range to be set from time to time exclusively by resolution of the board of directors.”

At the same meeting, the Board resolved to reduce the size of the Board from nine (9) members to five (5), effective immediately.