Summit Hotel Properties amends bylaws with universal proxy and exclusive forum provisions

Summit Hotel Properties, Inc.

Amended bylaws require compliance with SEC universal proxy rules for director nominations.
Enhanced disclosure requirements for stockholder nominations and proposals; updated prior to meeting dates.
Adopted exclusive forum provision: Maryland state courts for certain actions, federal courts for Securities Act claims.
Requires soliciting stockholders to use a proxy card color other than white.
Technical, modernizing, clarifying changes also included.

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 0.95

Summit Hotel Properties, Inc.: Adopted Third Amended and Restated Bylaws addressing universal proxy rules, enhancing stockholder nomination procedures, requiring a proxy card color other than white for certain solicitations, and adopting exclusive forum provisions for certain legal actions (effective 2023-10-20).

Change: bylaw amendment
Effective: 2023-10-20

Exact text from the filing

On October 20, 2023, the Board of Directors (“Board”) of Summit Hotel Properties, Inc. (the “Company”) adopted amendments to the Company’s amended and restated bylaws (as amended, the “Third Amended and Restated Bylaws”), which became effective the same day.

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Summit Hotel Properties, Inc. filing history →

Source: SEC EDGAR

accession 0001497645-23-000043

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