Update on the Evaluation of the Board Declassification Process
On August 2, 2022, the Board of Directors, after consideration of a recommendation from the Nominating and Corporate Governance Committee, resolved to include a proposal to amend the Company’s charter to declassify the Board of Directors in its proxy materials for the Company’s 2022 annual meeting of stockholders.
The Texas Pacific Land Trust Investor 
this sounds like good news…maybe?
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Yes. Very
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ok, i guess I was confused. I thought last years non-binding vote allowed (asked not so politely) the board to vote to de-classify this year. I was unaware we needed another ‘official’ proxy vote.
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Yea, I am confused about that too. TPLBlogger can you give us the details why we all need to vote again?
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Last year was a push to get the board to take up the issue. This year is the vote on the issue. Declassification means short, non staggered board terms for ALL board members. It is a best practice in modern governance. https://tpltblog.com/2021/12/07/proxy/
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