L Brands Declares Cash Dividend and Announces Amendments to Bylaws to Implement Proxy Access
The company also announced that its board of directors has amended the company’s bylaws to implement proxy access. The amendments were undertaken in response to the approval by stockholders at the company’s 2016 annual meeting of stockholders of a non-binding stockholder proposal to adopt proxy access.
The amended bylaws permit a stockholder, or a group of up to 20 stockholders, that has owned at least 3% of the company’s common stock continuously for at least three years, to include in the company’s annual meeting proxy materials director nominees constituting up to the greater of two individuals or 20% of the company’s board of directors, provided that the stockholder(s) and the nominees(s) satisfy the requirements specified in the amended bylaws.
For further information, please contact: L Brands: Investor Relations Amie Preston (614) 415-6704 firstname.lastname@example.org Media Relations Tammy Roberts Myers (614) 415-7072 email@example.com