Pilgrim's Pride Corporation
Extract: Charter Amended/Restated (Plain English Desc) from a    Download
SEC Document
SEC Filing
On April 28, 2021, the stockholders approved an amendment to the Amended and Restated Certificate of Incorporation (“Amended Certificate”) reflecting a change to Article Five, Section 5.2(b). Article Five of the Company’s Certificate of Incorporation provides for a specified number of JBS Directors and Equity Directors, based upon the percentage ownership of JBS in the Company. In particular, the Certificate of Incorporation provides that the JBS Stockholder will have seven (7) directors if it owns at least 80% of our issued and outstanding Common Stock and eight (8) directors if it owns at least 90% of our issued and outstanding Common Stock. Under the filed amendment, the JBS Nominating Committee may choose to maintain only six (6) JBS Directors on the Board (rather than seven (7) or eight (8), respectively) if it beneficially owns at least 80% of our issued and outstanding Common Stock, in which case there would be three (3) Equity Directors (rather than two (2) Equity Directors or one (1) Equity Director, respectively).