UGI Corp adopts proxy access bylaw allowing 3% holders to nominate directors

UGI CORP /PA/

New bylaw Section 4.16 permits eligible shareholders owning ≥3% of common stock for ≥3 years to nominate directors.
A group of up to 20 shareholders can aggregate holdings to meet the 3% threshold.
Nominees can equal the greater of 2 directors or 20% of the board, subject to conditions.
Amendments effective May 3, 2023; include non-substantive conforming changes.

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

UGI CORP /PA/: Adopted proxy access provisions in Article IV, Section 4.16 of the Bylaws, allowing eligible shareholders to nominate director candidates (effective 2023-05-03).

Change: bylaw amendment
Effective: 2023-05-03

Exact text from the filing

On May 3, 2023, the Board of Directors (the “Board”) of UGI Corporation (the “Company”) approved and adopted amendments to the Company’s Amended and Restated Bylaws (as amended and restated, the “Bylaws”) to implement proxy access, effective immediately.

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Source: SEC EDGAR

accession 0000884614-23-000048

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