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
W&T OFFSHORE INC: Amended Articles of Incorporation to increase authorized common shares from 200M to 400M, lower supermajority vote to simple majority for fundamental actions, allow shareholders to amend bylaws, reduce special meeting ownership threshold from 30% to 25%, and allow written consent; also made other mi (effective 2023-06-16).
- Change
- charter amendment
- Effective
- 2023-06-16
Exact text from the filing
On June 16, 2023, at the Annual Meeting, the Company’s shareholders approved amendments to the Company’s Amended and Restated Articles of Incorporation to (i) increase the authorized shares of Common Stock from 200,000,000 shares to 400,000,000 shares; (ii) lower the requisite vote to approve fundamental actions that would otherwise require a two-thirds vote under Texas or other law to a simple majority; (iii) provide shareholders the ability to amend the Company’s Bylaws; (iv) reduce the ownership threshold required for shareholders to call a special shareholder meeting from 30% to 25%; (v) provide shareholders the ability to act via written consent and (vi) make certain other minor, immaterial changes that do not substantively affect shareholder rights.
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