Cable One, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Cable One, Inc. on February 14, 2022. The report addresses corporate governance amendments rather than financial performance for a specific fiscal period.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report does not contain financial statements or operational metrics.
Material Changes
On February 14, 2022, the Board of Directors amended the Company's Amended and Restated By-Laws by adopting a new Article II, Section 12, known as the "Proxy Access By-law." This change is effective immediately.
Guidance, Outlook, and Management Commentary
The Proxy Access By-law permits a stockholder, or a group of up to 20 stockholders, owning at least three percent of the Company's outstanding stock continuously for at least three years to nominate and include director nominees in the Company's annual meeting proxy materials. The number of nominees is limited to the greater of two directors or twenty-five percent of the Board. Eligibility requires that stockholders and nominees satisfy specific conditions, including that each director nominee must meet the qualifications to be an independent director.
Key Facts for Investor Verification
- Effective date of the Proxy Access By-law is February 14, 2022.
- Stockholders must own at least 3% of outstanding stock for a continuous 3-year period to utilize proxy access.
- Groups of up to 20 stockholders may combine holdings to meet the ownership threshold.
- Nominees submitted via proxy access must qualify as independent directors.
- The full text of the amended By-Laws is attached as Exhibit 3.1.