Daily Journal shareholders kill cumulative voting, adopt proxy access; board approves 35K share buyback

DAILY JOURNAL CORP

Shareholders approved eliminating cumulative voting for directors: 804,436 for, 21,786 against, 1,672 abstain (20,683 broker non-votes).
Bylaws amended to add proxy access: passive holders of 3% for 3 years can nominate 2 directors or 20% of seats.
New director resignation policy effective Sept 10, 2026: directors with more 'no' than 'yes' votes in uncontested elections must submit resignation.
Board authorized repurchases of up to 35,000 shares of common stock, expiring Sept 30, 2027.
Special meeting quorum 848,577 shares; also approved adjournment proposal (814,903 for, 30,816 against, 2,858 abstain).

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