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STAG Industrial to adopt majority voting in uncontested director elections

STAG Industrial Inc. said its board amended and restated the company bylaws to adopt a majority voting standard in uncontested elections of directors.

To be elected under the new standard, the number of votes cast for a director nominee should exceed votes cast against that nominee.

The plurality standard will be retained for elections, wherein the number of director nominees should be more than the number of directors to be elected.

Under an updated corporate governance law, the company also plans to require incumbent nominees to submit a written offer to resign from the board if they fail to secure a majority of the votes cast.