8-KThe WireRoutine
Bylaw Amendment
Filed Feb 23, 2024 · 2y ago · Accession 0001552781-24-000048
Plain English
Material event — a significant development the company must disclose promptly.
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Filing text
View original ↗SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): February 21, 2024
TEXTRON
INC.
(Exact
name of Registrant as specified in its charter)
Delaware
1-5480
05-0315468
(State
of
(Commission
File Number)
(IRS
Employer
Incorporation)
Identification
Number)
40 Westminster
Street , Providence , Rhode Island 02903
(Address of principal executive offices)
Registrant’s
telephone number, including area code: (401) 421-2800
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
Trading
Symbol(s)
Name
of exchange on which registered
Common
Stock – par value $0.125
TXT
New York Stock Exchange
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instructions A.2. below):
☐ Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications
pursuant to Rule 13e-4(c)) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the
registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter)
or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.03
Amendments to Articles of Incorporation
or Bylaws; Change in Fiscal Year.
On February
21, 2024, the Board of Directors of Textron Inc. (“Textron” or the “Company”) amended and restated the
Company’s By-Laws (the “By-Laws”), to be effective immediately. The amended and restated By-Laws principally
address the universal proxy rules adopted by the U.S. Securities and Exchange Commission (the “universal proxy rules”)
and certain other corporate governance matters. The amendments, among other things:
· require
that a shareholder providing notice of its intent to nominate an individual to the Board
pursuant to the universal proxy rules must comply with all requirements of those rules
and provide reasonable evidence of such compliance upon request;
· provide
that a shareholder’s failure to comply with the By-law provisions implementing
Rule 14a-19 (principally, the requirement to solicit holders of shares representing at
least 67% of voting power) will result in the Company disregarding the dissident’s
nomination;
· limit
the number of nominees a stockholder may nominate to the number of directors to be elected
at the meeting;
· broaden
certain informational requirements a shareholder nominating one or more individuals to
the Board must satisfy and require each nominee to provide the Company with certain representations
and agreements, as well as a completed director and officer questionnaire;
· require
a shareholder to solicit proxies in the same manner as the Company;
· require
a shareholder soliciting proxies from other stockholders to use a proxy card color other
than white;
· modify
the federal exclusive forum by-law by designating the federal district courts as the
exclusive forum for any claims arising under the Securities Act of 1933; and
· conform
portions of the By-Laws to the General Corporation Law of the State of Delaware, including
provisions regarding notice of adjourned virtual annual meetings, no longer requiring
the shareholder list to be available at the annual meeting and emergency governance procedures.
In
addition, certain other technical, ministerial, clarifying and conforming changes were made to the By-Laws.
The
foregoing description of the amendments to the By-Laws is only a summary, does not purport to be complete and is qualified in
its entirety by, the full text of the By-Laws, as so amended and restated, which are filed as Exhibit 3.1 to this report and incorporated
herein by reference.
Item 9.01 Financial Statements
and Exhibits
(d) Exhibits
The following
exhibit is filed herewith:
Exhibit
Number
Description
3.1
Amended and Restated By-Laws of Textron Inc., effective February 21, 2024
104
Cover Page Interactive Data File (embedded
within the Inline XBRL document)
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
TEXTRON
INC.
By:
/s/
E. Robert Lupone
E.
Robert Lupone
Executive
Vice President, General Counsel and Secretary
Date: February 23, 2024
Filing details
- Company
- TEXTRON INC
- Ticker
- TXT
- CIK
- 217346
- Form type
- 8-K
- Filing date
- Feb 23, 2024
- Report date
- Feb 21, 2024
- Document
- e24055-txt_8k.htm
- Size
- 416 KB