Bylaws tightened around meetings, nominations, and shareholder litigation

This is a governance filing, not an operating update. The amended bylaws make procedural and disclosure changes around shareholder proposals, director nominations, meeting adjournments, quorum rules, electronic participation, and board actions; they do not change earnings, guidance, capital allocation, or strategy (Amended and Restated Bylaws, Exhibit 3.1).

The main practical effect is tighter control over meeting mechanics and activist proposals. Shareholders must provide more information about affiliates, derivatives, hedging, short positions, and related arrangements, while the company gains clearer authority to postpone or adjourn meetings and designates federal courts as the exclusive forum for Securities Act claims (Amended and Restated Bylaws, Exhibit 3.1).

Versus expectations, this is neutral and largely routine. The filing introduces no measurable financial consequence or clearly value-changing action; its significance is limited to corporate-governance mechanics and the possibility of making future shareholder challenges more procedurally demanding.