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
Oportun Financial Corp: Amended bylaws to adopt majority voting standard in uncontested director elections and to eliminate supermajority vote requirement for stockholders to amend bylaws, replacing it with a majority vote threshold (effective 2023-10-10).
- Change
- bylaw amendment
- Effective
- 2023-10-10
Exact text from the filing
On October 10, 2023, the Board of Directors (the “Board”) of Oportun Financial Corporation (the “Company”), acting upon the recommendation of the Board’s Nominating, Governance and Social Responsibility Committee, approved the Company’s Amended and Restated Bylaws (the “Amended and Restated Bylaws”), effective as of such date. Among other things, the Amended and Restated Bylaws provide that directors be elected by a majority of the votes cast, other than in contested elections, where directors will be elected by a plurality vote, and replace the provision requiring a supermajority vote in order for the Company’s stockholders to amend the Company’s bylaws with a majority vote threshold, subject to the provisions of the Company’s certificate of incorporation.
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