Ormat Technologies, Inc.
Extract: Charter Amended/Restated (Plain English Desc) from a 8-K on 11/07/2019   Download
SEC Document
SEC Filing

At the Special Meeting of Stockholders (the “Special Meeting”) of Ormat Technologies, Inc. (the “Company”) held on November 6, 2019 (the “Special Meeting”), the stockholders approved an amendment to the Company’s Third Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) and Fourth Amended and Restated By-laws (the “By-laws”) to declassify the board of directors (the “Board of Directors”). As part of these amendments, the Board of Directors was declassified effective immediately from three classes of directors, who serve three-year terms, to a single class of directors serving annual terms, with all directors to be elected at each annual meeting of the stockholders starting at the 2020 Annual Meeting of the Stockholders. Immediately following the Special Meeting, to facilitate the declassification, each director resigned from such director’s term within a class on the Board of Directors and was immediately reappointed to the Board of Directors for a term ending at the 2020 Annual Meeting of Stockholders.