Stockholders of Xenia Hotels & Resorts Inc. approved the charter amendment the company proposed earlier in March to fully opt out of Maryland's Unsolicited Takeover Act at their annual meeting held May 22.
Following the approval, the company's elections will no longer be subject to section 3-804(c) of the Maryland General Corporation Law, which governs director vacancies. The hotel-focused real estate investment trust previously opted out of all the provisions of this act but one.
