Armada Hoffler Properties Announces Further Corporate Governance Enhancements
28 Februar 2022 - 12:00PM
Armada Hoffler Properties, Inc. (NYSE: AHH) (the “Company”) today
announced that its Board of Directors unanimously approved and
adopted an amendment to the Company’s Bylaws to reduce the
requirements necessary for stockholders to submit binding proposals
to amend the Company’s Bylaws.
In particular, the amendment to the Company’s Bylaws reduces the
ownership thresholds required for stockholders to submit proposed
amendments to the Company’s Bylaws to align with the ownership
requirements of Rule 14a-8 under Securities Exchange Act of 1934,
as amended. Specifically, as a result of the Board’s actions,
stockholders may propose binding amendments to the Company’s Bylaws
if they have continuously held:
- at least $2,000 in market value of
the Company's securities entitled to vote on the proposal for at
least three years; or
- at least $15,000 in market value
of the Company's securities entitled to vote on the proposal for at
least two years; or
- at least $25,000 in market value
of the Company's securities entitled to vote on the proposal for at
least one year; or
- otherwise as provided in Rule
14a-8.
“The Board continues to periodically assess and enhance our
governance policies to ensure transparency and accountability to
our shareholders,” said Lou Haddad, the Company’s President and
Chief Executive Officer. “In light of our strong interest in
best-in-class governance, the Board has decided to align the
stockholders ownership requirements with Rule 14a-8.”
About Armada Hoffler Properties, Inc.
Armada Hoffler Properties, Inc. (NYSE: AHH) is a
vertically-integrated, self-managed real estate investment trust
("REIT") with over four decades of experience developing, building,
acquiring, and managing high-quality, institutional-grade office,
retail, and multifamily properties located primarily in the
Mid-Atlantic and Southeastern United States. In addition to
developing and building properties for its own account, the Company
also provides development and general contracting construction
services to third-party clients. Founded in 1979 by Daniel A.
Hoffler, the Company has elected to be taxed as a REIT for U.S.
federal income tax purposes.
Contact:Michael P. O’HaraArmada Hoffler Properties, Inc.Chief
Financial Officer and
TreasurerEmail: MOHara@ArmadaHoffler.comPhone: (757)
366-6684
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