LifeVantage adopts limited duration stockholder rights plan expiring Aug 2024, with 12% trigger

Lifevantage Corp

One right per common share outstanding as of Sept 11, 2023 record date; exercise price $20 per right.
Rights become exercisable only if a person/group acquires 12% (20% for passive investors) without Board approval.
Upon trigger, each right (except acquirer's) allows purchase of common stock worth 2x the exercise price.
Board may redeem rights at $0.01 each before trigger; plan submitted to stockholder ratification at annual meeting.
Rights expire on August 28, 2024; limited duration and no dead-hand provisions.

item 1.01 item 3.03 item 5.03 item 7.01 item 9.01

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

Lifevantage Corp: Adopted Certificate of Designation of Series A Junior Participating Preferred Stock (effective 2023-08-30).

Change: charter amendment
Effective: 2023-08-30

Exact text from the filing

The Certificate of Designation was filed with the Secretary of State of the State of Delaware on August 30, 2023.

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Lifevantage Corp filing history →

Source: SEC EDGAR

accession 0000849146-23-000114

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