What changed
Daily Journal Corporation established a director resignation policy requiring incumbent director nominees to submit irrevocable resignations in advance, effective upon Board acceptance if they fail to receive the required vote in an uncontested election. The Nominating Committee must consider acceptance promptly after election results are certified, and the Board must act within 90 days unless deferral is needed for operational or governance reasons, with deferral generally capped at 180 days. Affected directors cannot participate in the recommendation or determination.
Why it matters
Daily Journal Corporation established a director resignation policy requiring incumbent director nominees to submit irrevocable resignations in advance, effective upon Board acceptance if they fail to
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Sep 16, 2026 03:14 PM ET