other
confidence high
sentiment neutral
materiality 0.30
Sound Financial amends bylaws, removes 75-year age limit for director eligibility
Sound Financial Bancorp, Inc.
- Section 12 of Article II deleted; persons 75+ no longer barred from board election or appointment.
- Board cites belief that uniform age cap arbitrarily removes experienced directors.
- Amendment effective October 26, 2021; no other bylaw changes or fiscal year shift.
- Governance change aimed at retaining experienced board members going forward.