Shopping center real estate investment trust Urban Edge Properties amended its bylaws to adopt a majority voting standard from a plurality voting standard.
To be elected under the revised bylaws, the trustee nominee has to secure a majority of the votes cast in an uncontested election. In a contested election, nominees receiving a plurality of the votes cast shall be elected.
In addition, the amendment clarifies the treatment of trustees and trustee seats in case the number of trustees decreases at the end of a trustee term.
