Northrim BanCorp adopts bylaw amendments on shareholder proposals and universal proxy compliance

NORTHRIM BANCORP INC

Board approved bylaw amendments effective March 23, 2023, adding advance notice requirements for shareholder proposals.
Amendments align with SEC's Universal Proxy Rules under Rule 14a-19 for contested director elections.
New provisions require shareholders nominating directors to provide background info, agreements, and proxy solicitation intent.
Added dematerialization provisions for securities, updated stock certificate and transfer sections.
Filing includes Bylaws as Exhibit 3.1 with amendment history dating to 2001.

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

NORTHRIM BANCORP INC: Amended Bylaws to add advance notice for shareholder proposals, update proxy rules for director nominations, and provide for dematerialization of securities (effective 2023-03-23).

Change: bylaw amendment
Effective: 2023-03-23

Exact text from the filing

On March 23, 2023, the Board of Directors (the “Board”) of Northrim BanCorp, Inc. (the "Company") approved and adopted amendments to its Bylaws, as amended (the “Bylaws”), effective immediately.

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Source: SEC EDGAR

accession 0001163370-23-000019

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