Companies Amend Bylaws to Prepare for Universal Proxy in 2023

by | Dec 12, 2022

For our full primer on the universal proxy card and its impact, you can read here.

The SEC’s new universal proxy rules (started in September 2022) require the use of proxy cards listing the names of all director candidates in a contested election, regardless of whether the candidates were nominated by the board or shareholders. This was a significant change to the previous rules which saw different proxy cards used by the company and by dissidents, with each card only listing their respective slate of nominees.

Now, shareholders will be able to more easily pick and choose individual directors across all nominated directors. In response many companies have amended their bylaws to account for these changes. In some case the changes have been nominal, but in others they have been more material and more aggresive — to the point that Sidley has even warned they boards are “flying too close to the sun.”

A listing of some of the companies that have already amended their bylaws since September in preparation for the universal proxy card’s impact on 2023 shareholder meetings is below.

CompanyFiling
ABBVIE INC  (ABBV)8-K
ABERCROMBIE & FITCH CO  (ANF)8-K
ACCO BRANDS CORP  (ACCO)8-K
AFFIRM HOLDINGS INC  (AFRM)8-K
AGCO CORP  (AGCO)8-K
AIR TRANSPORT SERVICES GROUP INC  (ATSG)8-K
ALLY FINANCIAL INC  (ALLY)8-K
AMERICAN ELECTRIC POWER CO INC  (AEP)8-K
AMERICAN EQUITY INVESTMENT LIFE HOLDING CO  (AEL)8-K
AMERICAN WATER WORKS COMPANY INC  (AWK)8-K
AMYRIS INC  (AMRS)8-K
ANALOG DEVICES INC  (ADI)8-K
ANEBULO PHARMACEUTICALS INC  (ANEB)8-K
ANNALY CAPITAL MANAGEMENT INC  (NLY)8-K
ARCBEST CORP  (ARCB)8-K
ARCONIC CORP  (ARNC)8-K
ARISTA NETWORKS INC  (ANET)8-K
ARTHUR J GALLAGHER & CO  (AJG)8-K
ASSERTIO HOLDINGS INC  (ASRT)8-K
ASSERTIO HOLDINGS INC  (ASRT)8-K
AVIDXCHANGE HOLDINGS INC  (AVDX)8-K
B&G FOODS INC  (BGS)8-K
BASSETT FURNITURE INDUSTRIES INC  (BSET)8-K
BLOCK INC  (SQ)8-K
BLUEPRINT MEDICINES CORP  (BPMC)8-K
BRT APARTMENTS CORP  (BRT)8-K
BRUNSWICK CORP  (BC)8-K
C H ROBINSON WORLDWIDE INC  (CHRW)8-K
CENTURY COMMUNITIES INC  (CCS)8-K
CHAMPIONX CORP  (CHX)8-K
CHEESECAKE FACTORY INC  (CAKE)8-K
CHIMERIX INC  (CMRX)8-K
CHIPOTLE MEXICAN GRILL INC  (CMG)8-K
CHURCHILL DOWNS INC  (CHDN)8-K
CIGNA CORP  (CI)8-K
CIRCOR INTERNATIONAL INC  (CIR)8-K
CME GROUP INC  (CME)8-K
COMPUTER PROGRAMS & SYSTEMS INC  (CPSI)8-K
CONSTELLATION BRANDS INC  (STZ)8-K
CTS CORP  (CTS)8-K
CUE HEALTH INC  (HLTH)8-K
DANAHER CORP  (DHR)8-K
DAVITA INC  (DVA)8-K
DIAMONDBACK ENERGY INC  (FANG)8-K
DICE THERAPEUTICS INC  (DICE)8-K
DOMINOS PIZZA INC  (DPZ)8-K
EASTMAN CHEMICAL CO  (EMN)8-K
EMCOR GROUP INC  (EME)8-K
ENPRO INDUSTRIES INC  (NPO)8-K
ENTEGRIS INC  (ENTG)8-K
ENVIVA INC  (EVA)8-K
ESCO TECHNOLOGIES INC  (ESE)8-K
ESS TECH INC  (GWH)8-K
EXPEDITORS INTERNATIONAL OF WASHINGTON INC  (EXPD)8-K
FINWARD BANCORP  (FNWD)8-K
FORTIVE CORP  (FTV)8-K
FORTUNE BRANDS HOME & SECURITY INC  (FBHS)8-K
GATX CORP  (GATX)8-K
GENWORTH FINANCIAL INC  (GNW)8-K
GIBRALTAR INDUSTRIES INC  (ROCK)8-K
GLOBAL SELF STORAGE INC  (SELF)8-K
GREEN PLAINS INC  (GPRE)8-K
HANESBRANDS INC  (HBI)8-K
HARSCO CORP  (HSC)8-K
HUMANA INC  (HUM)8-K
HUNTINGTON INGALLS INDUSTRIES INC  (HII)8-K
HURON CONSULTING GROUP INC  (HURN)8-K
HYATT HOTELS CORP  (H)8-K
I3 VERTICALS INC  (IIIV)8-K
IAA INC  (IAA)8-K
INFINERA CORP  (INFN)8-K
INNOVATIVE INDUSTRIAL PROPERTIES INC  (IIPR)8-K
IPG PHOTONICS CORP  (IPGP)8-K
KAMAN CORP  (KAMN)8-K
KARYOPHARM THERAPEUTICS INC  (KPTI)8-K
KEMPER CORP  (KMPR)8-K
KIMBALL ELECTRONICS INC  (KE)8-K
KNOWLES CORP  (KN)8-K
LENNAR CORP  (LEN)8-K
LOEWS CORP  (L)8-K
LOUISIANA-PACIFIC CORP  (LPX)8-K
LYFT INC  (LYFT)8-K
MAINSTREET BANCSHARES INC  (MNSB)8-K
MARTIN MARIETTA MATERIALS INC  (MLM)8-K
MATTEL INC  (MAT)8-K
MAXAR TECHNOLOGIES INC  (MAXR)8-K
NEOLEUKIN THERAPEUTICS INC  (NLTX)8-K
NEXTDOOR HOLDINGS INC  (KIND)8-K
NMI HOLDINGS INC  (NMIH)8-K
NORTHERN TECHNOLOGIES INTERNATIONAL CORP  (NTIC)8-K
NRG ENERGY INC  (NRG)8-K
NUSCALE POWER CORP  (SMR)8-K
NUTANIX INC  (NTNX)8-K
OMEGA HEALTHCARE INVESTORS INC  (OHI)8-K
OMNICELL INC  (OMCL)8-K
ONE LIBERTY PROPERTIES INC  (OLP)8-K
OPORTUN FINANCIAL CORP  (OPRT)8-K/A
OPORTUN FINANCIAL CORP  (OPRT)8-K
OPTION CARE HEALTH INC  (OPCH)8-K
ORGANON & CO  (OGN)8-K
OUTFRONT MEDIA INC  (OUT)8-K
PASSAGE BIO INC  (PASG)8-K
PEOPLES FINANCIAL CORP  (PFBX)8-K
PERSONALIS INC  (PSNL)8-K
PHILIP MORRIS INTERNATIONAL INC  (PM)8-K
PHILLIPS 66  (PSX)8-K
PINNACLE FINANCIAL PARTNERS INC  (PNFP)8-K
PINTEREST INC  (PINS)8-K
PPG INDUSTRIES INC  (PPG)8-K
PRIVIA HEALTH GROUP INC  (PRVA)8-K
PTC THERAPEUTICS INC  (PTCT)8-K
QUALYS INC  (QLYS)8-K
QUANTUMSCAPE CORP  (QS)8-K
RADIAN GROUP INC  (RDN)8-K
RAYONIER ADVANCED MATERIALS INC  (RYAM)8-K
RETAIL OPPORTUNITY INVESTMENTS CORP  (ROIC)8-K
REVOLVE GROUP INC  (RVLV)8-K
ROVER GROUP INC  (ROVR)8-K
SABRE CORP  (SABR)8-K
SARCOS TECHNOLOGY & ROBOTICS CORP  (STRC)8-K
SEAGEN INC  (SGEN)8-K
SENSEI BIOTHERAPEUTICS INC  (SNSE)8-K
SKYLINE CHAMPION CORP  (SKY)8-K
SOLAREDGE TECHNOLOGIES INC  (SEDG)8-K
SOLID POWER INC  (SLDP)8-K
SONDER HOLDINGS INC  (SOND)8-K
SPOK HOLDINGS INC  (SPOK)8-K
SPROUT SOCIAL INC  (SPT)8-K
STEM INC  (STEM)8-K
STRYKER CORP  (SYK)8-K
SUMMIT MATERIALS INC  (SUM)8-K
SVB FINANCIAL GROUP  (SIVB)8-K
TELEPHONE & DATA SYSTEMS INC  (TDS)8-K
TRANSMEDICS GROUP INC  (TMDX)8-K
TRANSUNION  (TRU)8-K
TWIST BIOSCIENCE CORP  (TWST)8-K
UNITED AIRLINES HOLDINGS INC  (UAL)8-K
UNITED STATES CELLULAR CORP  (USM)8-K
UPWORK INC  (UPWK)8-K
VERITIV CORP  (VRTV)8-K
VOYA FINANCIAL INC  (VOYA)8-K
WALMART INC  (WMT)8-K
WASTE MANAGEMENT INC  (WM)8-K
WOLVERINE WORLD WIDE INC  (WWW)8-K
YUM CHINA HOLDINGS INC  (YUMC)8-K
ZEBRA TECHNOLOGIES CORP  (ZBRA)8-K
ZEROFOX HOLDINGS INC  (ZFOX)8-K
ZOETIS INC  (ZTS)8-K

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