General Electric's Board of Directors has approved and adopted amendments to the company's By-Laws, effective June 25, 2026. The updates primarily address corporate governance matters, including shareholder director nomination procedures and the designation of exclusive legal forums for certain types of litigation.
Key Details
- Director Nominations: The amendments supplement procedures and information requirements for director nominations, including requirements related to SEC Rule 14a-19, and mandate that shareholders soliciting proxies use a proxy card color other than white.
- Exclusive Forum (State Law): New York state courts are now designated as the exclusive forum for derivative actions, claims of breach of fiduciary duty, and other actions arising under New York corporate law.
- Exclusive Forum (Federal Law): U.S. federal district courts are designated as the exclusive forum for bringing claims under the Securities Act of 1933.
- Effective Date: The Amended and Restated By-Laws became effective immediately on June 25, 2026.