May 04, 2020

Temporary Nasdaq Relief from Shareholder Vote Requirement

On May 4, 2020, the Securities and Exchange Commission approved a rule filing from Nasdaq granting temporary relief from the shareholder approval requirements in respect of certain transactions.  Nasdaq has adopted Listing Rule 5336T, which provides for limited relief from Nasdaq Listing Rule 5635(d) (“transactions other than public offerings”) and under certain limited circumstances a limited attendant exception to Listing Rule 5635(c) (“equity compensation”).

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