Service Properties Trust reduces share ownership limit to 5%; trustees Cramer and Portnoy face heavy opposition

Service Properties Trust

Ownership limit cut from 9.8% to 5% to preserve net operating loss tax benefits; transfers above 5% void.
Arbitration provision for shareholder disputes removed from bylaws.
Trustees Cramer (37.3M against) and Portnoy (41.8M against) re-elected with substantial opposition votes.
Non-binding say-on-pay passed with 119.4M for vs 11.4M against.
Deloitte & Touche ratified as independent auditor with 145.6M for.

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