8-K
filed December 11, 2023, 6:59 PM ET
ticker CHSCP
CIK 0000823277
other
confidence high
sentiment neutral
materiality 0.40
CHS elects new director Rossman, reelects six board members; bylaws amended on director regions and capital reserve
CHS INC
- Anthony Rossman elected to Board, succeeding retiring Perry Meyer, representing Region 1 (Minnesota).
- Six incumbents re-elected to three-year terms: Blew, Cordes, Erickson, Jones, Schurr, Wagner.
- Board officers re-elected: Schurr (Chair), Kehl (Sec-Treas); Blew (1st Vice Chair), Cordes (2nd Vice Chair) elected.
- Bylaws amended: Region 1 directors reduced from 4 to 3; Region 7 increased from 1 to 2, effective immediately.
- Second amendment changes dividend treatment in patronage calculation; Board can add up to 35% of patronage income to capital reserve, effective Sept 1, 2024.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Perry Meyer retired as Director at CHS INC.
- Action
- retired
- Role
- Director
Exact text from the filing
Newly elected director Anthony Rossman succeeds former director Perry Meyer, who retired from the Board on December 8, 2023
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
C.J. Blew was elected as First Vice Chairman of the Board at CHS INC.
- Action
- elected
- Role
- First Vice Chairman of the Board
Exact text from the filing
C.J. Blew was elected as First Vice Chairman of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Anthony Rossman was elected as Director at CHS INC.
- Action
- elected
- Role
- Director
Exact text from the filing
Newly elected director Anthony Rossman succeeds former director Perry Meyer, who retired from the Board on December 8, 2023
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Scott Cordes was elected as Second Vice Chairman of the Board at CHS INC.
- Action
- elected
- Role
- Second Vice Chairman of the Board
Exact text from the filing
Scott Cordes was elected as Second Vice Chairman of the Board
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
CHS INC: Amendments to bylaws: decrease Region 1 representative directors from four to three and increase Region 7 from one to two; deduct dividends from patronage net income; allow Board to add up to 35% additional patronage income to capital reserve.
- Change
- bylaw amendment
Exact text from the filing
At the Annual Meeting, the members of CHS approved amendments (the “ Amendments ”) to CHS’s bylaws (the “ Bylaws ”) to: (1) decrease the number of representative directors in Region 1 from four to three directors and increase the number of representative directors in Region 7 from one to two directors; (2) provide that dividends paid by CHS, including dividends paid with respect to CHS preferred stock, will be deducted when calculating the net income or net loss of an allocation unit from patronage business; and (3) provide the Board with the authority to add an additional amount of patronage income not to exceed 35% to the capital reserve to provide additional reserves for the needs of CHS’s business.
View on SEC.gov
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