Summary
Wells Fargo & Company (WFC) filed an 8-K on March 1, 2018, reporting an amendment to its By-Laws, effective March 1, 2018. The most significant change is the reduction of the ownership threshold required for stockholders to request a special meeting of stockholders. This threshold has been lowered from 25% to 20% of the company's outstanding common stock. This amendment, approved by the Board of Directors, aims to provide shareholders with greater ability to convene and discuss important company matters.
Key Highlights
- 1Wells Fargo amended its By-Laws, effective March 1, 2018.
- 2The ownership threshold to request a special stockholder meeting has been reduced from 25% to 20%.
- 3This change empowers shareholders by lowering the barrier to call a special meeting.
- 4The amendment was approved by the Board of Directors.
- 5The full text of the amended By-Laws is filed as an exhibit to this 8-K.
- 6This filing does not report any financial statements or significant operational changes.