FinWise Bancorp amends bylaws to supermajority vote; stock plans restrict option repricing

Finwise Bancorp

Bylaw amendment replaces 66⅔% supermajority shareholder vote with majority vote for bylaw changes, effective April 16, 2025.
2016 and 2019 Stock Plans amended to prohibit Administrator from reducing option exercise price without stockholder approval.
Both amendments approved by Board on April 16, 2025 and described in filed exhibits.

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

Finwise Bancorp: Eliminated 66 2/3% supermajority shareholder vote requirement to amend bylaws and replaced with majority vote standard (effective 2025-04-16).

Change: bylaw amendment
Effective: 2025-04-16

Exact text from the filing

On April 16, 2025, the Board approved and adopted an amendment to the Company’s Amended and Restated Bylaws (the “Amended and Restated Bylaws”) which became effective upon its approval and adoption by the Board. The amendment eliminated the 66 2⁄3% supermajority shareholder vote required for shareholders to amend the Company’s bylaws and replaced it with a majority vote standard.

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Finwise Bancorp filing history →

Source: SEC EDGAR

accession 0001856365-25-000011

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