JACKSONVILLE, FL--(BUSINESS
WIRE)-- Regency Centers Corporation (NYSE: REG) (“Regency” or the “Company”), a
leading developer, owner and operator of shopping centers nationwide, today
announced that its Board of Directors has amended certain of the Company’s
bylaws and employment agreements.
The Board, with the
assistance of outside legal and compensation advisors, undertook a thorough
review and determined to amend certain policies in accordance with current best
practices.
The changes include:
implementation of a proxy access bylaw; adoption of an exclusive forum bylaw;
irrevocably opting out of Florida’s control share acquisition statute without
shareholder approval; establishing a 25% stock ownership threshold required to
call a special shareholder meeting;
amending the Company’s bylaws to include a
majority vote standard, such that director nominees can only be elected to the
Board with the support of a majority of shares voted in an uncontested
election, and; executing new employment agreements with its executive officers.
Complete details can be
found in the Company's Form 8-K filed today with the Securities and Exchange
Commission.
For a complete copy of the company’s news release,
please contact:
Regency Centers
Corporation
Michael Mas, 904-598-7470
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