trending Market Intelligence /marketintelligence/en/news-insights/trending/WdKJa2EPcbDE4nLueVAk1w2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

BankUnited stockholder proposal seeks majority vote standard in uncontested director elections

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


BankUnited stockholder proposal seeks majority vote standard in uncontested director elections

Miami Lakes, Fla.-based BankUnited Inc.'s board is seeking shareholder approval foran amendment to its bylaws that would eliminate the "only for cause" standardfor removal of directors, according to a preliminary proxy statement filed April1.

The amendment will allow removal of directors with or withoutcause by the affirmative vote of the majority of stockholders entitled to vote.

The filing also noted a proposal from the California StateTeachers' Retirement System, which seeks to change the plurality vote standard tomajority vote standard for uncontested director elections and retain a pluralitystandard for contested director elections. CalSTRS owns 314,528 shares of commonstock as of Dec. 7, 2015, the company said.

Shareholders will vote on these proposals, and other matters,at the annual meeting scheduled for May 18.