Preferred Apartment Communities, Inc. (NYSE:APTS) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On December 19, 2018, the Board of Directors (the “Board”) of Preferred Apartment Communities, Inc. (the “Company”) adopted the Fourth Amended and Restated Bylaws of the Company (the “Amended and Restated Bylaws”). The Amended and Restated Bylaws provide that in any uncontested election of directors for the Board, a vote of a majority of the votes cast for and against each director in that uncontested election is required for election. The voting standard in contested elections of directors for the Board remains as a plurality of the votes cast in any such election. In addition, the Amended and Restated Bylaws remove provisions regarding a conflicts committee of the Board as the provisions are duplicative of the charter for the Company’s conflicts committee.
The foregoing description of the Amended and Restated Bylaws is qualified in its entirety by reference to the copy of the Amended and Restated Bylaws filed as Exhibit 3.1 to this Form 8-K, which is incorporated by reference herein. The copy of the Amended and Restates Bylaws filed as Exhibit 3.1 is marked to show changes from the bylaws of the Company previously in effect.
Item 9.01Financial Statements and Exhibits.
(d)Exhibits.
PREFERRED APARTMENT COMMUNITIES INC Exhibit
EX-3.1 2 fourthamendedandrestatedby.htm FOURTH AMENDED AND RESTATED BYLAWS Exhibit THIRDFOURTH AMENDED AND RESTATED BY-LAWSBYLAWS OF PREFERRED APARTMENT COMMUNITIES,…
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About Preferred Apartment Communities, Inc. (NYSE:APTS)
Preferred Apartment Communities, Inc. is a real estate investment trust (REIT). The Company is formed primarily to acquire and operate multifamily properties in select-targeted markets throughout the United States. It operates through three segments: multifamily communities, retail and real estate related financing. The multifamily communities segment consists of owned residential multifamily communities. It owns approximately 20 multifamily communities with a total of over 6,140 units in over eight states. The retail segment consists of owned grocery-anchored shopping centers. The Company owns over 31 grocery-anchored centers across over seven Sunbelt states. It owns Champions Village, a Randalls-anchored shopping center. The financing segment consists of a portfolio of real estate loans, bridge loans and other financial instruments, which partially finance the development, construction and prestabilization carrying costs of multifamily communities and other real estate assets.