The Securities and Exchange Commission has approved proposed changes to the bylaws of Cboe Global Markets, Inc., the organization that oversees multiple stock exchanges. These changes allow shareholders owning at least 25% of the company's shares to call a special stockholder meeting, rather than only permitting the board's chair or CEO to do so. The amendments also refine the rules for informing the company about nominees for the board and other business proposals, aiming to align them with recent legal developments. Additionally, provisions were made to ensure accurate proxy card representation and to allow the Lead Director a role in calling special meetings of the board.
Simple Explanation
The Securities and Exchange Commission agreed to change some rules so that people who own a big part of a company called Cboe Global Markets can now ask to have special meetings to talk about important things, just like the boss could do before. These changes also made it easier to figure out how to tell the company about new ideas and other important topics.