Corporate GovernanceMay 28, 2026, 06:08 AM
TriCo Bancshares Eliminates Cumulative Voting
AI Summary
TriCo Bancshares' shareholders approved an amendment to the Company's bylaws to eliminate cumulative voting at its 2026 annual meeting. Following this approval, the Board adopted amended and restated bylaws that also allow for the appointment of Lead Directors and clarify indemnity provisions. Additionally, shareholders approved executive compensation and ratified the appointment of Baker Tilly US, LLP as the independent public accountants for 2026.
Key Highlights
- Shareholders approved the elimination of cumulative voting with 16,321,837 votes For and 8,706,979 Against.
- Amended bylaws eliminate cumulative voting in the election of directors.
- Amended bylaws allow the Board to appoint one or more Lead Directors.
- Amended bylaws clarify indemnity provisions for current and former agents of the Company.
- Shareholders approved the nonbinding advisory resolution on executive compensation with 24,274,276 votes For.
- Shareholders ratified Baker Tilly US, LLP as independent public accountants with 27,885,107 votes For.
- All 11 director nominees were elected to serve until the next annual meeting.
Price Impact
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