Avid Bioservices amends bylaws to update voting standards, indemnification, and forum clause

Avid Bioservices, Inc.

Board approved amended bylaws effective June 19, 2023; includes changes to voting standard for non-director matters.
Stock list availability requirement during stockholder meetings eliminated.
Indemnification clarified to cover only actions taken before a director or officer leaves the company.
Forum selection clause excludes actions under the Securities Exchange Act of 1934 and Securities Act of 1933.
Technical, conforming, and modernizing changes also included.

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

Avid Bioservices, Inc.: Amended and restated bylaws to modify voting standard, eliminate stock list requirement at meetings, clarify indemnification for former directors/officers, and clarify forum selection clause; includes technical and conforming changes (effective 2023-06-19).

Change: bylaw amendment
Effective: 2023-06-19

Exact text from the filing

On June 19, 2023, the Board of Directors (the “Board”) of Avid Bioservices, Inc. (the “Company”), based on the recommendation of the Corporate Governance Committee of the Board, approved an amendment and restatement of the Company’s Amended and Restated Bylaws (the “Amended and Restated Bylaws”), effective immediately.

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Source: SEC EDGAR

accession 0001683168-23-004398

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