Bassett Furniture Industries, Incorporated
Extract: Bylaws Amended/Restated (Plain English Desc) from a 8-K on 11/23/2022   Download
SEC Document
SEC Filing
On and effective November 22, 2022, the Board of Directors of Bassett Furniture Industries, Incorporated (the “Company”), as part of a review of the Company’s governance documents, approved changes to the Company’s Amended and Restated By-Laws (as amended and restated, the “By-Laws”). The amendments, among other things:
add provisions regarding the organization of Shareholder meetings;
provide additional clarifying detail regarding the submission of proxies for voting at Shareholder meetings;
expand the scope of disclosures required by a Shareholder seeking to bring a director nomination or other business before a meeting of Shareholders, to include additional information regarding the Shareholder, any affiliates or associates or other parties with whom the Shareholder is acting in concert (each, an “associated person”), and any Shareholder nominee, as applicable;
clarify that, in addition to complying with the advance notice provisions in the By-Laws, each proposing or nominating Shareholder and any associated person must also comply with all applicable requirements under the Company’s organizational documents and applicable law;
add provisions addressing the recently adopted universal proxy rules, including as to representations and requirements for compliance with the Securities Exchange Act of 1934 and Rule 14a-19 promulgated thereunder, the color proxy cards to be used by Shareholders directly or indirectly soliciting proxies from other Shareholders, and timely provision of necessary information to the Company; and
make various other updates, including technical, clarifying, ministerial and conforming changes.