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Gaming and Leisure Properties adopts new director election rules

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Capital Markets View – January 2021


Gaming and Leisure Properties adopts new director election rules

Gaming and Leisure Properties Inc. gained shareholder approval for its proposal to change the voting standard in uncontested director elections to a majority vote from a plurality vote at its June 14 annual shareholder meeting.

The casino real estate investment trust also amended its bylaws to remove provisions governing its board declassification process, and to add a requirement that a shareholder's director nominee must represent that he or she intends to serve on the board for the full applicable term.

The amended articles of incorporation and bylaws went into effect June 14, according to a June 15 filing.