Plug Power reduces stockholder meeting quorum from majority to one-third

PLUG POWER INC

Board adopted Seventh Amended and Restated Bylaws lowering quorum to one-third of voting power.
Change effective April 24, 2024; only the quorum provision was modified.
Past annual meetings saw quorum barely achieved: 56.2% in 2023, similar struggles in 2022 and 2021.
Reduction aims to avoid adjournments and additional costs from low shareholder turnout.
Company may consider restoring majority quorum if turnout improves in future.

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

PLUG POWER INC: Reduced quorum requirement for stockholder meetings from a majority to one-third of voting power (effective 2024-04-24).

Change: bylaw amendment
Effective: 2024-04-24

Exact text from the filing

approved and adopted the Company’s Seventh Amended and Restated Bylaws (the “Seventh Amended and Restated Bylaws”), which became effective immediately, solely to reduce the quorum required to hold meetings of the Company’s stockholders.

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Source: SEC EDGAR

accession 0001104659-24-052453

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