Akamai amends bylaws to enhance stockholder nomination procedures and adopt universal proxy rules

AKAMAI TECHNOLOGIES INC

Enhanced disclosure requirements for stockholder nominations, including ownership details, voting commitments, and litigation history.
Nominating stockholders must represent intent to solicit proxies from at least 67% of voting power under Rule 14a-19.
Advance notice deadlines for 2023 annual meeting: submissions accepted Jan 12 – Feb 11, 2023.
Board special meeting call threshold changed to at least one-third of directors; director removal requires two-thirds vote.
Amendments effective December 13, 2022, reflecting updates to DGCL and SEC universal proxy rules.

Key facts

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

AKAMAI TECHNOLOGIES INC: On December 13, 2022, the Board adopted Amended and Restated Bylaws effective immediately, making various changes including enhancements to stockholder nomination and proposal procedures, adjustments to advance notice deadlines, and modifications to reflect recent DGCL amendments and SEC universal p (effective 2022-12-13).

Change: bylaw amendment
Effective: 2022-12-13

Exact text from the filing

On December 13, 2022, in connection with a periodic review of the bylaws of Akamai Technologies, Inc. (the “ Company ”) including the effectiveness of new Securities and Exchange Commission rules regarding universal proxy cards and certain recent changes to the Delaware General Corporation Law (the “ DGCL ”), the Company’s board of directors (the “ Board ”) adopted amended and restated bylaws (the “ Amended and Restated Bylaws ”), effective immediately.

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Source: SEC EDGAR

accession 0001086222-22-000278

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