Marriott amends bylaws to align with DGCL updates and tighten shareholder proposal rules

MARRIOTT INTERNATIONAL INC /MD/

Board approved Amended and Restated Bylaws effective August 3, 2023.
Updates incorporate DGCL changes re shareholder list, meeting adjournment, stock certificates, and indemnification.
New procedural requirements for shareholder business proposals, including extra disclosures and proxy card color rule.
Establishes exclusive federal forum for Securities Act claims unless Company consents otherwise.
Changes quorum to majority of Board, allows CEO to appoint and remove certain officers.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

MARRIOTT INTERNATIONAL INC /MD/: Amended and Restated Bylaws effective August 3, 2023, including updates to align with DGCL, changes to shareholder proposal procedures, board quorum and committee formation, exclusive forum provisions, and other administrative revisions (effective 2023-08-03).

Change: bylaw amendment
Effective: 2023-08-03

Exact text from the filing

On August 3, 2023, the Board of Directors (the “Board”) of Marriott International, Inc. (“Marriott” or the “Company”) approved and adopted Amended and Restated Bylaws of the Company (as so amended and restated, the “Bylaws”), that became immediately effective.

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Source: SEC EDGAR

accession 0001193125-23-203849

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