Crown Castle Inc. (CCI, Financial) has announced significant amendments to its corporate governance framework through the adoption of the Second Amended and Restated By-laws. The board of directors unanimously approved these changes on November 6, 2024, which are effective immediately.
The updated by-laws introduce several noteworthy provisions aimed at enhancing shareholder engagement and simplifying governance processes. One of the key amendments allows for a special meeting of stockholders to be convened by the Company's Secretary upon the written request of stockholders owning at least 25% of the Company's outstanding common stock. This change empowers shareholders with a substantial stake to have a more direct influence on corporate matters.
Additionally, the voting standard for stockholder approval of future amendments to the by-laws has been revised. The new standard requires a majority vote, replacing the previous super-majority requirement. This adjustment is designed to streamline decision-making processes while maintaining necessary checks and balances as outlined in the Company's Certificate of Incorporation.
The amendments also include various technical, conforming, and clarifying changes to ensure consistency and clarity in the Company's governance documents.
These changes reflect Crown Castle's commitment to aligning its governance practices with shareholder interests and enhancing corporate transparency. For a detailed understanding of the amendments, stakeholders are encouraged to review the full text of the Second Amended and Restated By-laws.
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