other
confidence high
sentiment neutral
materiality 0.25
Primerica amends bylaws to require majority voting power for stockholder special meetings
Primerica, Inc.
- Stockholders owning >50% voting power can request a special meeting, subject to new procedural conditions.
- Requesting stockholders must have held the requisite ownership for at least 12 months prior to the request.
- Disposition of shares after request automatically revokes the request for those shares; meeting may be canceled if aggregate ownership falls below majority.
- Board may decline to call a meeting if similar business was held within 120 days or if request violates bylaws or law.
- Nomination/election of directors is deemed similar business for meeting restriction purposes.