Compass Minerals International, Inc. Extract: Bylaws Amended/Restated (Plain English Desc) from a 8-K on 05/17/2024 Download SEC Document SEC Filing
On May 16, 2024, Compass Minerals International, Inc. (the “Company”) upon the recommendation of its Nominating and Corporate Governance Committee, approved amended and restated bylaws of the Company (the “Bylaws”, and such amendment, the “Bylaw Amendment”). The Bylaw Amendment became effective on May 16, 2024.
The Bylaw Amendment provides that a stockholder providing notice of director nominations must comply with the requirements of Rule 14a-19 under the Exchange Act. The Company also updated the disclosure requirements for stockholders submitting director nominations and proposing other business, including (i) revising the “Acting in Concert” definition such that a person will be deemed to be “Acting in Concert” with another person only if such person has an agreement, arrangement or understanding with such other person regarding the nomination or business proposed at a meeting and (ii) removing “any third party” from the list of parties with whom agreements, arrangements and understandings in connection with the proposal of business must be disclosed.
The Company also adopted updates to the provisions governing the nominations of directors to address new universal proxy rules. The amendment and restatement took effect upon approval and adoption by the Board.
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