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
WRAP TECHNOLOGIES, INC.: Amended and Restated Bylaws lowering special meeting threshold from supermajority to majority, changing Bylaws amendment vote to majority, and updating advance notice provisions for director nominations to align with Rule 14a-19 (effective 2023-02-07).
- Change
- bylaw amendment
- Effective
- 2023-02-07
Exact text from the filing
The Board of Directors of Wrap Technologies, Inc. (the “ Company ”) has approved and adopted Amended and Restated Bylaws of the Company (the “ Bylaws ”). The Bylaws became effective on February 7, 2023 and include the following changes: ● lowering the threshold for shareholders to call a special meeting from a supermajority (66.67%) to a majority of the outstanding shares entitled to vote at the meeting; ● changing the required vote for shareholders to amend the Bylaws from a supermajority vote (66.67%) to a majority vote; and ● updating the advance notice provisions relating to shareholder nominations of directors to align with Rule 14a-19 under the Securities Exchange Act of 1934.
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