Sun Communities adopts proxy access bylaw allowing 3% holders to nominate directors

SUN COMMUNITIES INC

Board approved Fourth Amended and Restated Bylaws adding Proxy Access Bylaw.
Eligible stockholders (or group of up to 20) owning at least 3% of shares for 3+ years may nominate directors.
Number of proxy access nominees limited to greater of 2 or 20% of board, with reduction for prior proxy access directors.
Bylaw effective immediately; full text filed as Exhibit 3.1.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

SUN COMMUNITIES INC: Added Article II, Section 17 to implement a Proxy Access Bylaw allowing eligible stockholders to nominate director candidates (effective 2023-02-15).

Change: bylaw amendment
Effective: 2023-02-15

Exact text from the filing

On February 15, 2023, the Board of Directors (the “Board”) of Sun Communities, Inc. (the “Company”) approved and adopted the Company’s Fourth Amended and Restated Bylaws (the “Bylaws”). Article II, Section 17 was added to the Bylaws to implement the Proxy Access Bylaw (as defined below).

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Source: SEC EDGAR

accession 0000912593-23-000066

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