Stock Alterdata

• Category: Corporations - Public - Directors
• State: Multi-State
• Control #: US-CC-14-170B
• Format: Word; Rich Text

Description

The Stock alterdata form is designed to facilitate amendments to a company's Restated Certificate of Incorporation and By-Laws, specifically regarding the number of directors on the Board. This amendment aims to reduce the minimum number of directors required from nine to six, providing greater flexibility for the Board. The change is motivated by the Board's concern about attracting qualified directors in light of potential personal liability and current industry conditions. Key features of the form include clear instructions for filling and editing, ensuring that stockholders can easily understand the voting process and implications. The effective date of the amendments is contingent upon stockholder approval, which necessitates a significant affirmative vote of 80 percent of the shares. This form is especially useful for attorneys, partners, and legal assistants who manage corporate governance matters, as well as paralegals assisting in the preparation of necessary documentation for stockholder meetings. Its simple language and straightforward structure make it accessible even for users with limited legal experience, reinforcing the importance of clear communication in legal processes.