Jefferies Financial Group Inc.
Extract: Bylaws Amended/Restated (Plain English Desc) from a 8-K on 10/05/2021   Download
SEC Document
SEC Filing
On September 30, 2021, the Board of Directors (the “Board’) of Jefferies Financial Group Inc. (the “Company”) approved an amendment and restatement of the Company’s Amended and Restated By-Laws (as amended and restated, the “By-Laws”), effective as of September 30, 2021.

The purposes of the amendments were to modernize the By-Laws to reflect changes in New York law, as well as other advancements in technology. The By-Laws were amended to, among other things: (i) permit annual meetings of our shareholders to be held by electronic means; (ii) permit certain notices to be provided by electronic transmission; (iii) clarify quorum requirements; (iv) clarify necessary vote to approve matters presented to shareholders; (v) clarify that officers hold office until their successor shall have been duly appointed, or until the earlier of their death, resignation, or removal; (vi) clarify certain rights to indemnification and advancement of expenses to our directors and officers; and (vii) conform the advanced notice deadlines for shareholders to submit business proposals with the existing advanced notice deadlines for shareholders to nominate directors for election to the Board so that such notice must be received at the principal executive office of the Company not less than one hundred twenty (120) and not more than one hundred fifty (150) days prior to the first anniversary of the date of the Company’s proxy statement in connection with the last annual meeting. The amendments also include certain other ministerial and administrative changes consistent with New York law.