Mack-Cali Realty Corp. appointed CEO Michael DeMarco to the board of directors, expanding the board's size to 10 members.
The office-focused real estate investment trust also amended its bylaws to allow a shareholder, or group of up to 20 shareholders, who have owned at least 3% of the company's stock for at least one year to propose amendments to the bylaws, and implemented a true majority voting standard for director elections.
In addition, the company expanded its opt-out of the Maryland Control Share Acquisition Act to all stockholders, among other changes.
