ePlus inc.
Extract: Bylaws Amendment (Plain English Desc) from a 8-K on 09/07/2021   Download
SEC Document
SEC Filing
The board of directors (the “Board”) of ePlus inc. (the “Company”) periodically reviews the Company’s corporate governance framework.  On and effective September 1, 2021, the Board updated the Company’s bylaws as follows:

Deleted Section 3.9(B), which provided that the Company shall not, without prior consent of the Board, “acquire (via stock purchase, asset purchase, merger, recapitalization, share exchange, consolidation or other transaction) any entity or permit any subsidiary of the Corporation to acquire (via stock purchase, asset purchase, merger, recapitalization, share exchange, consolidation or other transaction) any entity so long as the value of such transaction is greater than or equal to $5,000,000 (five million dollars), or make an investment in any entity or permit any subsidiary of the Corporation to make an investment in any entity in an amount greater than or equal to $10,000,000 (ten million dollars), or to have credit exposure as such is defined in the Corporation’s approved Credit Policy to any one entity in an amount greater than or equal to $30,000,000 (thirty million dollars).”

The Board determined that authorization limits, such as those previously included in Section 3.9(B) of the bylaws, are more appropriately addressed by the Board through corporate resolutions.