Compass Diversified Holdings (CODI) has enacted amendments to its Fourth Amended and Restated Trust Agreement and its Seventh Amended and Restated Operating Agreement, effective November 1, 2026. These changes primarily update corporate governance provisions related to shareholder meetings, director nominations, and board of director meeting procedures.
Key Details
- Director Meeting Quorum: The quorum requirement for meetings of the Board of Directors has been increased from 35% to a majority of directors currently in office.
- Shareholder Nominations: New notice requirements for shareholder business and director nominations have been implemented, including mandatory board interviews for director nominees and expanded disclosure obligations for both the nominee and the proposing shareholder.
- SEC Rule Compliance: The amended agreements incorporate compliance with Rule 14a-19 under the Securities Exchange Act, related to the use of universal proxy cards in contested elections.
- Effective Date: Both the Amended Trust Agreement and the Amended LLC Agreement became effective on November 1, 2026.