On May 23, 2023, the Board of Directors of Campbell Soup Company (the “Company”) amended and restated the Company’s By-Laws, effective immediately, to:
•revise the procedures and requirements for a stockholder to propose business or make a nomination at a meeting of stockholders to, among other things, (i) require, in the case of solicitations in respect of director nominations, certain additional background information, disclosures and representations regarding the proposing stockholders, proposed nominees and other persons related to a stockholder’s solicitation of proxies, including a requirement that the stockholder provide the Company with reasonable evidence that the stockholder has met the applicable requirements of Rule 14a-19 under the Exchange Act, (ii) require that any stockholder soliciting proxies from other stockholders use a proxy card color other than white and (iii) establish deadlines for the stockholder proposing business or making a nomination at a meeting of stockholders to update its notice as of the record date and shortly before the meeting date; and
•incorporate other ministerial, clarifying and conforming changes to the By-Laws.