Summary
Union Pacific Corporation (UNP) filed an 8-K report on September 30, 2008, detailing two key corporate governance changes. Firstly, the company announced the election of Michael R. McCarthy as a new director, effective October 1, 2008. Mr. McCarthy, Chairman of McCarthy Group, LLC, brings his executive experience to the Board, though no committee assignments were made at the time of his election. Secondly, the Board of Directors approved an amendment to the company's By-Laws to change the date of the Annual Stockholder Meeting. Unless otherwise directed by the Board, the meeting will now be held on the second Thursday of May each year at 11:00 a.m., shifting from its previous scheduling. These changes are effective September 25, 2008, and are considered important for shareholders to note regarding the company's governance structure and meeting cadence.
Key Highlights
- 1Michael R. McCarthy, Chairman of McCarthy Group, LLC, was elected to the Union Pacific Corporation Board of Directors, effective October 1, 2008.
- 2Mr. McCarthy's election is based on the recommendation of the Corporate Governance and Nominating Committee.
- 3No committee appointments were made for Mr. McCarthy at the time of his election; future updates are anticipated.
- 4The company's By-Laws were amended to change the date of the Annual Meeting of Stockholders.
- 5The Annual Meeting will now be held on the second Thursday of May each year at 11:00 a.m., unless the Board directs otherwise.
- 6These By-Law amendments are effective as of September 25, 2008.
- 7The filing includes the amended By-Laws (Exhibit 3.2) and a related press release (Exhibit 99.1) as attachments.