Wells Fargo Adopts Proxy Access By-Law Amendments | Business Wire

Wells Fargo & Company said today that its board of directors has approved amendments to the company’s By-Laws to, among other things, provide eligible stockholders with new “proxy access” rights for nominating director candidates. The amendments provide a mechanism for eligible stockholders of the company to have their own qualifying director nominees included in the company’s proxy materials for its annual meeting.

The By-Law amendments, which are effective immediately, provide that a stockholder, or a group of up to 20 stockholders, who has continuously owned for 3 years at least 3 percent of the company’s outstanding shares of capital stock entitled to vote in the election of directors may nominate and include in the company’s proxy statement director candidates constituting up to the greater of 2 directors and 20 percent of the board, subject to the terms and conditions specified in the By-Laws.

Wells Fargo

via Wells Fargo Adopts Proxy Access By-Law Amendments | Business Wire.

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