AIV stockholders approve charter amendments lowering director removal threshold to simple majority

APARTMENT INVESTMENT & MANAGEMENT CO

Amendments approved at Sep 29, 2023 annual meeting; effective Oct 3, 2023.
Lowered stockholder vote threshold to remove directors to simple majority; cause requirement eliminated.
Stockholders may now fill board vacancies created by stockholder action (previously board-filled).
Simple majority vote required to amend Charter and Bylaws (reduced from supermajority).
Charter filed as Exhibit 3.1 with Maryland Department of Assessments & Taxation.

Key facts

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

APARTMENT INVESTMENT & MANAGEMENT CO: Lowered threshold for stockholder removal of directors to simple majority, eliminated cause requirement, enabled stockholder filling of vacancies, and reduced amendment vote to simple majority (effective 2023-10-03).

Change: charter amendment
Effective: 2023-10-03

Exact text from the filing

lower the threshold for stockholders to remove directors to a simple majority of shares outstanding, eliminate the requirement that such removal be for "cause," and enable stockholders to fill vacancies on the Board of Directors created by stockholder action, and (ii) reduce to a simple majority the stockholder vote required to amend the Company’s Charter and Amended and Restated Bylaws

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Source: SEC EDGAR

accession 0000950170-23-051529

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