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Crown Castle amends bylaws to adopt proxy access

Crown Castle International Corp. amended its bylaws to adopt a proxy access provision.

The amendment allows a shareholder or a group of up to 20 shareholders who have continuously owned at least 3% of Crown Castle's common stock for three or more years to submit director nominees of up to the greater of two individuals or 20% of the board seats, subject to certain notice and other procedural requirements.

Crown Castle also disclosed that W. Benjamin Moreland is stepping down as executive vice chairman, effective Dec. 31, but will remain as a director of the company.