other material
confidence high
sentiment neutral
materiality 0.60
MacKenzie Realty Capital amends charter and bylaws after stockholder vote
MacKenzie Realty Capital, Inc.
- Stockholders approved three charter amendments at Jan 6, 2025 special meeting: Proposal 1.A with 89.2% of shares present, 1.B with 91.52%, 1.C with 90.35%.
- Board adopted Third Amended and Restated Bylaws effective Jan 8, 2025, reducing quorum from 50% to one-third of votes entitled to be cast.
- Special meeting threshold increased from 10% to majority of votes entitled to be cast, and director qualification provisions were removed.
- New exclusive forum provision designates Maryland state or federal court for internal corporate claims, derivative actions, and fiduciary duty claims.