Oblong reduces stockholder meeting quorum to one-third of outstanding shares

TaoWeave, Inc.

Board approved First Amendment to By-Laws on October 19, 2023, effective immediately.
Quorum requirement for stockholder meetings reduced from a majority to one-third of outstanding shares entitled to vote.
Reduction permitted by DGCL Section 216 and Nasdaq Listing Rule 5620(c).
Amendment modifies Section 2.7 of the Company's Amended and Restated By-Laws.

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

TaoWeave, Inc.: Reduced quorum requirement for stockholder meetings from a majority to one-third of outstanding capital stock (effective 2023-10-19).

Change: bylaw amendment
Effective: 2023-10-19

Exact text from the filing

The First Amendment modifies Section 2.7 of the By-Laws, which pertains to the quorum requirement for stockholder meetings. The First Amendment reduces the quorum requirement for stockholder meetings from a majority to one-third (1/3) of the capital stock issued and outstanding and entitled to vote thereat, present in person or represented by proxy, as permitted by Section 216 of the Delaware General Corporation Law and Nasdaq Listing Rule 5620(c).

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Source: SEC EDGAR

accession 0000746210-23-000087

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