Park Hotels adopts amended bylaws, sets annual say-on-pay frequency

Park Hotels & Resorts Inc.

Board approved amended bylaws effective July 28, 2023, including proxy card color rule and universal proxy updates.
Stockholders voted for annual say-on-pay frequency at 2023 annual meeting; company will hold votes every year.
Next required advisory vote on say-on-pay frequency is no later than 2029 annual meeting.
Amendments also reflect recent DGCL changes and include administrative and clarifying updates.

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

Park Hotels & Resorts Inc.: The Board amended and restated the Bylaws to require non-white proxy cards, update nomination procedures for universal proxy rules, reflect Delaware law updates, and make administrative changes (effective 2023-07-28).

Change: bylaw amendment
Effective: 2023-07-28

Exact text from the filing

On July 28, 2023, the Company’s Board of Directors (the “ Board ”) amended and restated the Company’s By-laws (the “ Amended and Restated By-laws ”), effective immediately, to (i) require any stockholder directly or indirectly soliciting proxies from other stockholders to use a proxy card color other than white; (ii) implement and update the procedure and information requirements for the nominations of persons for election to the Board, including to address matters relating to the new universal proxy rules set forth in Rule 14a-19 under the Securities Exchange Act of 1934, as amended; (iii) reflect recent amendments to the Delaware General Corporation Law; and (iv) make certain other administrative, clarifying and conforming changes throughout.

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Source: SEC EDGAR

accession 0000950170-23-035944

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