Summary by Futu AI
On November 6, 2024, Occidental Petroleum Corporation announced the immediate adoption of its Amended and Restated By-laws following approval by the Board of Directors. The amendments align the By-laws with recent changes to the Delaware General Corporation Law, addressing remote communication for meetings, stockholder meeting adjournments, and stockholder list access. Provisions were also updated to remove the Board's conclusive authority on special meeting requests, enhance nomination and proposal procedures for stockholders, and clarify contested election definitions. Additionally, the amendments revised director resignation requirements, proxy solicitation processes, and indemnification provisions, including advancing payment of expenses and modifying conditions for director or officer-initiated action indemnification. The updated By-laws also allow for technical, ministerial, and clarifying changes. The full text of the By-laws was filed as Exhibit 3.1 with the report.