LENNAR CORPORATION (NYSE:LEN) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On June 26, 2019, the Board of Directors (the Board) of Lennar Corporation (the Company) adopted amendments to the Companys By-Laws (as so amended, the Amended By-Laws) to provide that, in an uncontested election of directors, a person will not be elected as a director unless that person receives a majority of the votes cast. Plurality voting is retained for contested elections. In order for any incumbent director to become a nominee of the Board for further service on the Board, the incumbent director will be required to submit an irrevocable resignation, which resignation shall become effective upon (a) that person not receiving a majority of the votes cast in an uncontested election, and (b) acceptance by the Board of that resignation in accordance with the policies and procedures adopted by the Board for such purpose. The Amended By-Laws became effective immediately upon adoption by the Board.
This summary does not purport to be complete and is qualified in its entirety by reference to the text of the Amended By-Laws. The Amended By-Laws are included as Exhibit 3.1 to this Current Report on Form 8-K and are incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
|3.1||By-Laws of Lennar Corporation, as amended effective June 26, 2019.|