Item 8.01 Other Events.
The Company's Board of Directors ("Board"), upon the recommendation of the
Board's Governance and Nominating Committee, has unanimously agreed to submit to
the stockholders at the Company's 2010 Annual Meeting of Stockholders a binding
proposal to amend the Company's Restated Certificate of Incorporation and
Restated By-Laws to declassify the Board and move to the annual election of
directors.
If approved by the stockholders, directors will be elected for one-year terms
rather than the current staggered three-year terms, beginning with the class of
directors whose terms expire in 2010. Therefore, if the proposal passes, by the
2012 Annual Meeting of Stockholders all directors will be elected annually for
one-year terms.
Add
CBK to Portfolio
Set Alert
Email to a
Friend