Summary
On February 26, 2014, S&P Global Inc. (then known as McGraw Hill Financial, Inc.) filed a Current Report on Form 8-K to announce an amendment to its By-Laws. The primary change involved the deletion of Article I-A, Section 10, which previously restricted director eligibility based on compensation received from external entities for director services, with certain exceptions. This amendment, approved by the Board of Directors and effective immediately, effectively removes a prior restriction on who can serve as a director. Investors should note that while this is a procedural change to corporate governance, it could potentially broaden the pool of eligible director candidates and may reflect a strategic decision by the board to increase flexibility in director appointments.
Key Highlights
- 1Amendment to By-Laws approved by the Board of Directors on February 26, 2014.
- 2Deletion of Article I-A, Section 10 from the Company's By-Laws.
- 3The deleted bylaw previously disqualified individuals from serving as Director if compensated by external entities for director services (with exceptions).
- 4The amendment removes a restriction on director eligibility.
- 5The By-Laws, as amended and restated, became effective immediately upon approval.
- 6The filing is an 8-K Current Report under Item 5.03 (Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year).