Camden National Corporation (NASDAQ:CAC) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03
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Amendments to Articles of Incorporation or Bylaws; Change
in Fiscal Year |
On December 20, 2016, the Board of Directors (the Board) of
Camden National Corporation (the Company), amended and restated
the Companys Amended and Restated Bylaws (the Bylaws). The
material amendments to the Bylaws are as follows:
Camden National Corporation (the Company), amended and restated
the Companys Amended and Restated Bylaws (the Bylaws). The
material amendments to the Bylaws are as follows:
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Article II, Section 2.1(d) was amended to specify the
minimum market value of Company shares that a Director shall beneficially own (the Qualifying Shares) in the Companys Corporate Governance Guidelines. The deadline by which a Director must purchase the Qualifying Shares is also specified in the Companys Corporate Governance Guidelines. |
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Article III, Section 3.2 was amended to increase the
maximum number of Board members from 16 to 17. |
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Article III, Section 3.3 was amended to expressly permit
the Board to appoint one of its members as Vice Chairperson of the Board. In the absence of the Chairperson, the Vice Chairperson shall preside over Board meetings and supervise the implementation of Board policies. The Vice Chairperson may also exercise further powers and duties that may be conferred upon, or assigned, by the Board. |
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Article V, Section 5.1 was amended to clarify that the
Chief Executive Officer will preside over Board meetings in the absence of both the Chairperson and the Vice Chairperson. |
The above description is qualified in its entirety by reference
to the Companys Amended and Restated Bylaws, which are attached
hereto as Exhibit 3.2 and are incorporated herein by reference.
to the Companys Amended and Restated Bylaws, which are attached
hereto as Exhibit 3.2 and are incorporated herein by reference.
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Item 9.01
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Financial Statements and Exhibits.
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(d) The following exhibit is filed with this Report:
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Exhibit No.
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Description
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3.02
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Amended and Restated Bylaws of Camden National
Corporation |
About Camden National Corporation (NASDAQ:CAC)