Summary
Becton, Dickinson and Company (BDX) filed an 8-K on July 28, 2016, reporting a key board appointment and amendments to its bylaws. The company announced the election of R. Andrew Eckert to its Board of Directors, effective September 26, 2016. Mr. Eckert, deemed independent under NYSE and BD's guidelines, will serve on the Corporate Governance and Nominating Committee and the Science, Marketing, Innovation and Technology Committee. His appointment includes a restricted stock unit grant valued at $62,655. Additionally, BD's bylaws were amended on July 26, 2016. These changes include enhanced requirements for shareholders submitting nominations or business proposals at annual meetings, revised procedures for calling special board meetings, and other minor adjustments. These updates aim to improve corporate governance and operational efficiency.
Key Highlights
- 1R. Andrew Eckert appointed to BDX Board of Directors, effective September 26, 2016.
- 2Mr. Eckert will serve on the Corporate Governance and Nominating Committee and the Science, Marketing, Innovation and Technology Committee.
- 3Mr. Eckert has been determined to be independent under NYSE rules and BD's Corporate Governance Principles.
- 4Mr. Eckert will receive restricted stock units valued at $62,655 as compensation.
- 5BDX amended its bylaws to enhance shareholder notice requirements for nominations and business proposals.
- 6Bylaws were also updated regarding the calling of special board meetings.
- 7The amended bylaws, as of July 26, 2016, are filed as Exhibit 3.1.