Cal-Maine founder family may sell voting control; board classified, cumulative voting eliminated

CAL-MAINE FOODS INC

Daughters' LLC holds 52% voting power; if all Class A shares converted to common, voting power falls to 12%.
Family members granted 12-month registration rights to sell common shares following Class A Conversion.
Charter amendments: classified board, supermajority charter amendment, no cumulative voting, no written consent.
Board authorized to issue up to 10 million shares of undesignated preferred stock.
Conversion Agreement does not require family to convert or sell; no change of control has occurred.

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