Corporate GovernanceApr 29, 2026, 05:32 PM
AEP Amends By-Laws on Director Elections & Proxy Access
AI Summary
AMERICAN ELECTRIC POWER CO INC (AEP) has amended its By-Laws, effective May 1, 2026. The amendments primarily update Section 17 regarding the election of directors, including the implementation of majority voting for uncontested elections and a policy requiring incumbent directors who are not re-elected to tender their resignation. The Board will then decide whether to accept the resignation within 90 days. The By-Laws also detail procedures for stockholder nominations and proxy access.
Key Highlights
- By-Laws amended effective May 1, 2026.
- Section 17 updated for director election procedures.
- Majority voting for directors in uncontested elections.
- Incumbent directors not elected must tender resignation.
- Board to decide on tendered resignations within 90 days.
- Details stockholder nomination and proxy access requirements.