Twitter Adjourns AGM On Board Declassification Proposal

(RTTNews) - Twitter Inc. (TWTR) announced adjournment of 2021 Annual Meeting of Stockholders with respect to board declassification proposal. The Annual Meeting will be reconvened on June 24, 2021.

Twitter noted that Thursday it convened its Annual Meeting of Stockholders as scheduled and considered all items of business with the exception of Proposal 5, the proposed amendment to its certificate of incorporation to declassify the Twitter Board of Directors.

The Nominating and Corporate Governance Committee, on behalf of the Twitter Board, believes it is in stockholders' best interest to extend the opportunity for stockholders to vote on the important matter and therefore recommended an adjournment to allow additional time for stockholders to submit proxies with respect to the Proposal. The Annual Meeting will be reconvened on June 24, 2021, the company said.

Being within 6% of the affirmative votes required for the Proposal to pass, and with 99% of the votes submitted so far voting in favor, the Twitter Board has determined to leave voting for the Proposal open.

Twitter noted that it will continue to solicit proxies from stockholders with respect to the Proposal, and electronic voting platforms are expected to remain open. The Board recommends that stockholders vote "FOR" the Proposal. The Record Date for determining stockholders eligible to vote on the Proposal remains April 5, 2021.