Cato Chairman John Cato crosses 50% voting control after share repurchases

CATO CORP

John P.D. Cato now beneficially owns 50.2% of total voting power of common stock as of Mar 29, 2022.
Cato's ownership includes 1,004,232 Class A shares (1 vote each) and 1,763,652 Class B shares (10 votes each).
Control change triggered by recent repurchases reducing Class A outstanding to 19,516,462 shares.
Company may qualify as 'controlled company' under NYSE, exempting some independence requirements.
Cato states no current intention to request ceasing compliance with NYSE independence rules.

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