Extract: Charter Amendment (Plain English Desc), Bylaws Amended/Restated (Plain English Desc) in a 8-K on 06/07/2021   Download
SEC Document
SEC Filing
At the Annual Meeting, the Company’s stockholders voted, among other things, to approve an amendment to the Company’s charter (the “Articles of Amendment”) and bylaws (the “Amended and Restated Bylaws”) to allow the Company’s bylaws to be amended by the Company’s stockholders.

The Articles of Amendment amend Section 5.01 of Article V of the Company’s charter so that the Board of Directors of the Company does not have the exclusive power to amend the Amended and Restated Bylaws.

The Amended and Restated Bylaws amend Section 7.07 of the Company’s bylaws to permit the stockholders of the Company, to the extent permitted by law, to amend the bylaws by the affirmative vote of a majority of all votes entitled to be cast on the matter pursuant to a binding proposal submitted by certain qualifying stockholders. The right to amend the Amended and Restated Bylaws is subject to additional eligibility, procedural and disclosure requirements set forth in Section 7.07 of the Amended and Restated Bylaws.

The Articles of Amendment became effective upon the filing with the Maryland State Department of Assessments and Taxation on June 4, 2021, and the Amended and Restated Bylaws were effective concurrently with the acceptance for record of the Articles of Amendment.