Toll Brothers amends bylaws to update stockholder nomination and proposal procedures

Toll Brothers, Inc.

Board approved amended bylaws effective June 13, 2023, updating procedural and disclosure requirements for stockholder proposals and director nominations.
Amendments address SEC's universal proxy card rules, requiring enhanced disclosures and representations from proposing stockholders.
New provisions allow company to request additional information from nominees and require proposals to use a non-white proxy card.
Clarifies that noncompliance with Rule 14a-19 may result in nomination being disregarded; votes for disqualified nominees treated as abstentions.
Includes administrative updates to reflect Delaware law, allowing remote stockholder meetings.

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

Toll Brothers, Inc.: Amended and restated bylaws to revise procedural and disclosure requirements for stockholder proposals and director nominations, including updates for universal proxy card rules and Delaware law (effective 2023-06-13).

Change: bylaw amendment
Effective: 2023-06-13

Exact text from the filing

On June 13, 2023, the Board of Directors (the “Board”) of Toll Brothers, Inc. (the “Company”) approved an amendment and restatement of the bylaws of the Company (the “Amended Bylaws”), which became effective the same day.

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Toll Brothers, Inc. filing history →

Source: SEC EDGAR

accession 0000794170-23-000048

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