UMB Financial reduces special meeting threshold to 20%, reinstates cumulative voting

UMB FINANCIAL CORP

Threshold to call special meeting lowered from 50% to 20% of outstanding common shares.
Cumulative voting for director elections reinstated in the bylaws.
Changes effective April 13, 2023, adopted by the Board of Directors.

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

UMB FINANCIAL CORP: Amended bylaws to reduce special meeting threshold from 50% to 20% and reinstate cumulative voting for director elections (effective 2023-04-13).

Change: bylaw amendment
Effective: 2023-04-13

Exact text from the filing

On April 13, 2023, the Board of Directors (the “Board”) of UMB Financial Corporation (the “Company”) amended the Company’s bylaws (as amended, the “Bylaws”) to: (i) reduce the percentage of shares of the Company’s common stock required to call a special meeting from 50% to 20%, and (ii) reinstate cumulative voting for director elections.

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Source: SEC EDGAR

accession 0001193125-23-100715

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