PG&E Corporation
Extract: Bylaws Amended/Restated (Plain English Desc) from a 8-K on 06/24/2020   Download
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Amended Bylaws of the Corporation

The Amended Bylaws of the Corporation amend and restate the bylaws of the Corporation in their entirety. The amendments effected by the Amended Bylaws of the Corporation include:


designating that the first annual meeting of shareholders following the Effective Date will be held at a date and time designated by the Corporation Board, which date must fall within fifteen months of the Effective Date;


amending certain procedural requirements for requesting a record date in connection with requesting to call a special meeting of shareholders;


establishing a classified Corporation Board as follows:


o
one class is to serve an initial term expiring in 2021, with a subsequent term expiring in 2023, after which the term for each director in this class will revert to one-year terms; and


o
a second class to serve an initial term expiring in 2022, with a subsequent term expiring in 2024, after which there will no longer be a classified Corporation Board and all directors will serve one-year terms; and


designating that there will be an executive-level Chief Risk Officer and executive-level Chief Safety Officer of the Corporation, who will each be required to provide certain risk and safety reports to the CPUC periodically; and


providing expanded authority to the Safety and Nuclear Oversight Committee (the “SNO Committee”) of the Corporation, including the authority to approve of executive officers (including the Chief Risk Officer and Chief Safety Officer) prior to the appointment of such officers by the full Corporation Board.