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Quotes & Info
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| LHO > SEC Filings for LHO > Form 8-K on 22-Feb-2007 | All Recent SEC Filings |
22-Feb-2007
Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Financi
Effective February 15, 2007, LaSalle Hotel Properties (the "Company") amended
Section 8 of Article II of its Amended and Restated Bylaws to provide that, in
an uncontested election of trustees, any nominee who receives a greater number
of votes withheld from his or her election than votes for his or her election
will, within two weeks following the certification of the shareholder vote by
the Company, submit a written resignation offer to the Board of Trustees for
consideration by the Nominating and Corporate Governance Committee of the Board
of Trustees. The Nominating and Corporate Governance Committee will consider the
resignation offer and, within 60 days following certification of the shareholder
vote by the Company, will make a recommendation to the Board of Trustees
concerning the acceptance or rejection of the resignation offer. In determining
its recommendation to the Board of Trustees, the Nominating and Corporate
Governance Committee will consider all factors its members deem relevant. The
Nominating and Corporate Governance Committee also will consider a range of
possible alternatives concerning the trustee's resignation offer as the members
of the Nominating and Corporate Governance Committee deem appropriate,
including:
• acceptance of the resignation offer,
• rejection of the resignation offer, or
• rejection of the resignation offer coupled with a commitment to seek to address the underlying cause or causes of the majority-withheld vote.
Under the new provisions, the Board of Trustees will take formal action on the recommendation no later than 90 days following certification of the shareholder vote by the Company. In considering the recommendation, the Board of Trustees will consider the information, factors and alternatives considered by the Nominating and Corporate Governance Committee and any additional information, factors and alternatives as the Board of Trustees deems relevant.
Any trustee offering to resign will not participate in the Committee or Board consideration of the resignation offer. The Company will publicly disclose, in a Form 8-K filed with the Securities and Exchange Commission, the decision of the Board of Trustees, including an explanation of the process by which the decision was made and, if applicable, its reason or reasons for rejecting the resignation offer.
The above description of the new bylaw provisions is not complete and is qualified by reference to the text of the new provisions, which is filed as an exhibit to this report and is incorporated by reference into this Item 5.03.
(d) Exhibits
Exhibit No. Description
3.1 Amended Section 8 of Article II of the Amended and Restated Bylaws of
LaSalle Hotel Properties
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