Corporate GovernanceAug 3, 2026, 04:34 PM
Finance of America Amends Charter, Bylaws, and LLC Agreement
AI Summary
Finance of America Companies Inc. has enacted significant corporate governance updates, effective July 31, 2026. This includes the Second Amended and Restated Certificate of Incorporation and Bylaws, along with the Third Amended and Restated Limited Liability Company Agreement for its subsidiary, Finance of America Equity Capital LLC. The changes reclassify Class B Common Stock to align with FOAEC Class A Units, update voting rights, and incorporate recent Delaware law amendments, including officer exculpation. The bylaws also update stockholder nomination procedures and reflect universal proxy card rules.
Key Highlights
- Finance of America's A&R Charter, Bylaws, and FOAEC's A&R LLCA became effective July 31, 2026.
- A&R Charter reclassifies Class B Common Stock to align with FOAEC Class A Units.
- Each Class B Common Stock share now carries one vote on relevant matters.
- A&R Charter includes exculpation for executive officers, reflecting Delaware law updates.
- A&R Bylaws update stockholder nomination procedures, including universal proxy rules.
- A&R LLCA clarifies transfer restrictions on FOAEC Class A Units.
- A&R LLCA allows majority approval for written consent actions by FOAEC's Board of Managers.
Price Impact
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