Lockheed Martin amends bylaws to adopt universal proxy rules, increase board size to 15

LOCKHEED MARTIN CORP

Amended bylaws to comply with SEC universal proxy rules (Rule 14a-19) for director nominations and stockholder proposals.
Maximum board size increased from 14 to 15 directors.
Lead Director now explicitly responsible for leading board's annual self-evaluation.
Chairman of meeting given authority to declare defective nominations or improper business proposals.

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

LOCKHEED MARTIN CORP: Amended and restated bylaws to address universal proxy rules, increase board size from 14 to 15, and update lead director responsibilities (effective 2023-02-22).

Change: bylaw amendment
Effective: 2023-02-22

Exact text from the filing

On February 22, 2023, the Board of Directors of Lockheed Martin Corporation (“Lockheed Martin” or the “Company”) amended and restated the Company’s Bylaws, effective immediately.

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Source: SEC EDGAR

accession 0000936468-23-000017

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