Shareholders approve phased-in board declassification; bylaws updated for universal proxy

MARRIOTT VACATIONS WORLDWIDE Corp

Board declassification approved with 28,865,482 votes for; phased in starting 2024, complete by 2026.
Bylaws amended to enhance stockholder nomination procedures, including universal proxy card requirements under Rule 14a-19.
Three Class II directors elected: C.E. Andrews, W.W. McCarten, W.J. Shaw; all received over 27.7M votes for.
Ernst & Young ratified as auditor with 33,240,864 votes for; say-on-pay approved with 28,252,786 votes for.

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

MARRIOTT VACATIONS WORLDWIDE Corp: Amended and restated bylaws to enhance procedural mechanics for stockholder nominations and proposals, update provisions to reflect DGCL changes and SEC universal proxy rules (effective 2023-05-12).

Change: bylaw amendment
Effective: 2023-05-12

Exact text from the filing

On May 12, 2023, as a result of the new Securities and Exchange Commission rules regarding universal proxy cards, certain recent changes to the DGCL and a periodic review of the bylaws of the Company, the Board adopted and approved amended and restated bylaws (the “Amended and Restated Bylaws”) of the Company, effective immediately.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

MARRIOTT VACATIONS WORLDWIDE Corp: Amendment to declassify the board of directors and provide for annual election of directors, effective upon filing with Delaware Secretary of State on May 12, 2023 (effective 2023-05-12).

Change: charter amendment
Effective: 2023-05-12

Exact text from the filing

The amendment to the Certificate (the “Declassification Amendment”) became effective upon filing the Certificate of Amendment to the Certificate (the “Certificate of Amendment”) with the Office of the Secretary of State of the State of Delaware (the “Delaware Secretary of State”) on May 12, 2023.

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Source: SEC EDGAR

accession 0001524358-23-000022

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