Medalist Diversified REIT elects to adopt classified board structure under Maryland law

Medalist Diversified, Inc.

Board elected to be subject to Section 3-803 of the Maryland Unsolicited Takeovers Act.
Board classified into three classes with staggered three-year terms; no stockholder vote required.
Class I directors: David Lunin, Charles S. Pearson Jr.; term until first annual meeting.
Class II directors: Emanuel Neuman, Timothy O'Brien; Class III: Francis P. Kavanaugh, Neil P. Farmer.
Articles Supplementary filed with Maryland SDAT on December 29, 2023, effective upon acceptance.

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

Medalist Diversified, Inc.: The board elected to be subject to Section 3-803 of the MGCL to classify the board into three classes with staggered three-year terms, reflected in Articles Supplementary filed with SDAT (effective 2023-12-29).

Change: charter amendment
Effective: 2023-12-29

Exact text from the filing

On December 28, 2023, the Board of Directors (the “Board”) of Medalist Diversified REIT, Inc. (the “Company”) approved a resolution to elect for the Company to be subject to Section 3-803 of Subtitle 8 of Title 3 of the Maryland General Corporation Law (the “MGCL”).

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Medalist Diversified, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-130497

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