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

As described in Item 5.02 (incorporated herein by reference to the extent applicable) at the Company’s Special Meeting, the Company’s stockholders approved amendments to the Company’s Certificate of Incorporation and By-laws, which became effective upon the filing of a Certificate of Amendment of the Certificate of Incorporation with the Secretary of State of the State of Delaware. Effective immediately following the Special Meeting, the By-laws were also amended to rectify an inadvertent drafting error in one section of the By-laws not properly updated in 2013, when the Board of Directors implemented a majority voting standard for uncontested director elections. The correction, which was not submitted to a stockholder vote at the Special Meeting, reflects that directors are elected by a majority of the votes cast at annual meetings of stockholders, except for contested elections, in which case a plurality standard applies. The Company had otherwise correctly memorialized the standard throughout the By-laws in 2013.