Southside Bancshares amends bylaws to mandate annual executive sessions and lead independent director

SOUTHSIDE BANCSHARES INC

New Section 3.08 requires at least one Board executive session annually with only independent directors present.
Provides for appointment of a Lead Independent Director for a one-year term.
If Chairman is an independent director, Chairman serves as Lead Director with same powers.
Amendment adopted by Board on Nov. 8, 2024 and effective immediately.

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

SOUTHSIDE BANCSHARES INC: Added Section 3.08 to the Bylaws to provide for annual executive sessions of independent directors and the role of lead independent director (effective 2024-11-08).

Change: bylaw amendment
Effective: 2024-11-08

Exact text from the filing

On November 8, 2024, the Board of Directors (the “Board”) of Southside Bancshares, Inc. (the “Company”) adopted an Amendment (the “Amendment”) to the Amended and Restated Bylaws of the Company (the “Bylaws”), effective immediately. The Amendment adds a new Section 3.08 to the Bylaws, which provides for Executive Sessions of the Board, at which only independent directors are present, which must occur at least annually.

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Source: SEC EDGAR

accession 0000705432-24-000243

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