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
CARMAX INC: Amended and restated Bylaws to adopt universal proxy rules, clarify chair's power to adjourn meetings, and make other technical updates (effective 2023-10-24).
- Change
- bylaw amendment
- Effective
- 2023-10-24
Exact text from the filing
On October 24, 2023, the Board of Directors (the “Board”) of CarMax, Inc. (the “Company”) amended and restated the Company’s Bylaws (the “Amended Bylaws”), effective immediately, to, among other things: • address the adoption of the universal proxy rules adopted by the U.S. Securities and Exchange Commission and related requirements (the “Universal Proxy Rules”), including to require evidence of compliance with the Universal Proxy Rules, provide that the Company shall disregard a shareholder nomination if the nominating shareholder fails to comply with the Universal Proxy Rules, and specify the color of proxy cards reserved for use by the Company; • clarify that the chair of a meeting of shareholders has the power to recess or adjourn any meeting; and • make various other updates, including technical, clarifying and conforming changes.
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