---
title: "Beacon to seek charter amendment allowing director removal by majority vote"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/292355473.md"
description: "Beacon Financial Corp plans to propose a charter amendment at its next annual meeting, allowing directors to be removed by a majority vote with or without cause. The board opted against a special meeting due to cost concerns and deemed the annual meeting more in stockholders' best interests."
datetime: "2026-07-10T20:23:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/292355473.md)
  - [en](https://longbridge.com/en/news/292355473.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/292355473.md)
generator: "portal-rs"
---

# Beacon to seek charter amendment allowing director removal by majority vote

**Beacon informed stockholders it will propose a charter amendment to allow directors to be removed by a majority vote.**

**Key Highlights:**

-   Board says directors may be removed with or without cause by holders of a majority of voting power under DGCL §141(k).
-   Board intends to propose a Charter amendment at the next annual meeting to implement this change.
-   Board decided against calling a special meeting, citing cost and not being in stockholders' best interests.

Original SEC Filing: Beacon Financial Corp \[ BBT \] - 8-K - Jul. 10, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**