A proposed amendment to Gamingand Leisure Properties Inc.'s articles of incorporation will be up forconsideration at the company's 2016 annual shareholder meeting.
The proposed amendment seeks to declassify the company's boardand phase in annual elections of all directors. The declassified board structureis targeted for full implementation at the company's 2019 annual shareholder meeting,according to an April 1 filing.
The company noted that its board is currently divided into threeclasses, with each class of directors serving staggered, three-year terms. Annualelections are held for each successive class.
Believing that annual elections of all directors would be beneficialfor the company, Gaming and Leisure's board recommends that shareholders vote infavor of the proposal at the meeting slated for June 1.