Mega Matrix reduces stockholder quorum from majority to one-third

Mega Matrix Corp.

Board adopted Fourth Amended and Restated Bylaws reducing quorum to one-third of outstanding shares.
Change effective immediately to ensure quorum at 2023 annual meeting on Dec 29, 2023.
Reason: majority shares held in street name, often not voted, risking meeting quorum.
Company expects no business effect beyond facilitating the annual meeting.

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

Mega Matrix Corp.: Reduced the quorum requirement for stockholder meetings from a majority to one-third of outstanding shares entitled to vote (effective 2023-12-16).

Change: bylaw amendment
Effective: 2023-12-16

Exact text from the filing

On December 16, 2023, Mega Matrix Corp., a Delaware corporation (the “Company”), by resolution of its board of directors (the “Board”), adopted a Fourth Amended and Restated Bylaws (the “Amended and Restated Bylaws”) for purposes of reducing the quorum required to hold meetings of the Company’s stockholders (the “Quorum Requirement”). The Amended and Restated Bylaws reduced the Quorum Requirement from a majority to one-third (1/3) of the Company’s outstanding shares entitled to vote, represented in person or by proxy.

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Source: SEC EDGAR

accession 0001213900-23-096294

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