Central Pacific Financial amends bylaws for universal proxy rules and governance updates

CENTRAL PACIFIC FINANCIAL CORP

Board adopted amended and restated bylaws effective Sept 21, 2023, primarily to align with new SEC universal proxy rules.
Shareholders using universal proxy must certify compliance and provide evidence at least five business days before meeting.
Advance notice provisions updated: nominating shareholders must provide detailed info and complete questionnaire if requested.
Chair of meeting can determine compliance and disregard non-compliant nominations or proposals.
Clarifies that directors may only be removed for cause at a meeting called per Hawaii law.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

CENTRAL PACIFIC FINANCIAL CORP: Amended and restated bylaws to comply with universal proxy rules and update various procedural provisions, effective immediately upon board approval on September 21, 2023 (effective 2023-09-21).

Change: bylaw amendment
Effective: 2023-09-21

Exact text from the filing

On September 21, 2023, in connection with the effectiveness of new Securities and Exchange Commission rules regarding universal proxy cards and a periodic review of the bylaws of Central Pacific Financial Corp. (the “Company”), the Company’s board of directors (the “Board”) approved and adopted the Company’s amended and restated bylaws (the “Amended and Restated Bylaws”), which became immediately effective.

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CENTRAL PACIFIC FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0000701347-23-000036

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