Company: OFIX
Filing Date: 2025-02-25
Form Type: S-3ASR
Source: 0000950170-25-026634
Chunk: 21

Company: Orthofix Medical Inc.
Filing Date: 2025-02-25
Form: S-3ASR
Chunk 21
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 at least 85% of the corporation’s voting stock upon consummation of the transaction which made the interested stockholder an interested stockholder (excluding for purposes of determining the voting stock outstanding (but not the outstanding voting stock held by the interested stockholder) those shares owned (A) by persons who are directors and also officers of the corporation and (B) employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer), or (iii) on or after the date such person becomes an interested stockholder, the business combination is approved by the board of directors and is also approved at a stockholder meeting (and not by written consent) by 66-2/3% of the voting stock not owned by the interested stockholder.

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Section 203 of the DGCL only applies to Delaware corporations that have a class of voting stock that is listed on a national securities exchange or is held of record by more than 2,000 stockholders. A Delaware corporation may also elect in its original certificate of incorporation or an amendment thereto or in its bylaws (if adopted by the stockholders) not to be governed by Section 203 of the DGCL, subject to certain statutory requirements set forth in the DGCL.

No Cumulative Voting

Our certificate of incorporation does not provide for cumulative voting.

Size of Board of Directors and Vacancies

Our bylaws provide that the total number of persons serving on our board of directors will be fixed from time to time by resolution of our board of directors; provided that the number of directors constituting the board of directors shall be no fewer than 6 and no greater than 15. Our certificate of incorporation provides that any vacancies on our board of directors and any newly-created directorships resulting from any increase in the authorized number of directors may be filled only by a majority of the directors then in office (and not by our stockholders), even if less than a quorum, or by a sole remaining director unless (1) our board of directors determines by resolution that any such vacancy or newly created directorship shall be filled by the stockholders or (2) otherwise provided by law. Any directors so elected shall hold office until the next annual meeting of stockholders and until their successors have been duly elected and qualified.

Amendment to Bylaws

Our certificate of incorporation expressly authorizes our board of directors to adopt, alter, amend, repeal and rescind