other material
confidence high
sentiment positive
materiality 0.60
Box eliminates supermajority, adopts majority voting; sets July 12 proposal deadline
BOX INC
- Eliminated supermajority stockholder vote requirement to alter or repeal bylaws.
- Changed director election standard from plurality to majority of votes cast (plurality retained for contested elections).
- Adopted director resignation policy in connection with majority vote standard.
- Set board refreshment goal of average tenure of 10 years or less for independent directors.
- Added board diversity requirement (comply with law on female and underrepresented communities); 2021 annual meeting proposals due July 12.