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
PINTEREST, INC.: Amended and restated Bylaws to provide proxy access right for stockholders, update director nomination procedures and disclosure requirements, reflect recent DGCL amendments, implement an emergency bylaw, and make other clarifications (effective 2022-11-17).
- Change
- bylaw amendment
- Effective
- 2022-11-17
Exact text from the filing
On November 17, 2022, as part of its periodic review of corporate governance matters and in connection with the new Securities and Exchange Commission rules regarding universal proxy cards and certain recent changes to the Delaware General Corporation Law (the “DGCL”), the Board of Directors (the “Board”) of Pinterest, Inc. (the “Company”) approved an amendment and restatement of the Company’s Amended and Restated Bylaws (as so amended and restated, the “A&R Bylaws”), effective as of such date, in order to, among other things: • provide stockholders with a proxy access right permitting a stockholder, or a group of up to 20 stockholders, owning 3% or more of the Company’s outstanding common stock continuously for at least three years, to nominate, and have included in the Company’s proxy materials, director nominees constituting up to the greater of two individuals or 20% of the board, provided that the stockholder(s) and the proxy access nominee(s) satisfy the requirements and the proc
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