The New York Stock Exchange LLC submitted a proposed rule change to the Securities and Exchange Commission (SEC) to modify certain sections of the NYSE Listed Company Manual, specifically concerning shareholder approval requirements and related party transactions. The SEC published this proposal in the Federal Register on January 4, 2021, but has not received any public comments. Under the rules, the SEC typically has 45 days to take action on such proposals, which in this case would have lapsed on February 18, 2021. However, they have decided to extend this period to April 4, 2021, to have more time to consider the proposed changes.
Simple Explanation
The New York Stock Exchange wants to change some rules about how companies get approval from their shareholders and deal with related businesses. The people in charge need more time to think about these changes, so they're giving themselves until April 4 to decide.