Company: TR
Filing Date: 2025-06-02
Form Type: 8-K
Source: 0001558370-25-008345
Chunk: 1

Company: TOOTSIE ROLL INDUSTRIES INC
Filing Date: 2025-06-02
Form: 8-K
Item: Item 5.03
Chunk 1
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Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On June 2, 2025, the Board approved and adopted amended and restated Bylaws of the Company (the “ Bylaws”), that became immediately effective, which, among other things: (i) added to the Bylaws certain procedural, informational and other requirements to be satisfied in connection with any advance notice relating to director nominations and the presentation of business at shareholder meetings; (ii) adjusted the notice window for shareholders to propose business or nominate directors to be considered at annual meetings to not less than 90 and not more than 120 days before the anniversary of the prior year’s meeting, except in limited circumstances; (iii) updated provisions related to director nominations by shareholders in light of the “universal proxy” rules set forth in Rule 14a-19 under the Securities Exchange Act of 1934, as amended (the “ Exchange Act”); (iv) updated and clarified provisions regarding the date, time, place and notice of meetings of shareholders and the Board’s ability to adjourn, postpone or reschedule meetings of the shareholders whether or not a quorum is present; (v) added a forum selection provision which provides that the sole and exclusive forum for certain legal state actions involving the Company will be a federal or state court located within the Commonwealth of Virginia, unless the Company consents in writing and (vi) updated provisions relating to the calling of special meetings of the Board; (vii) updated the description of the executive officer positions of the Company, including permitting the chairman of the Company to be a non-executive chairman and making the chairman of the board and chief executive officer roles separate positions; and (viii) incorporated other ministerial, clarifying and conforming changes, including changes to align with the language used in certain provisions of the Virginia Stock Corporation Act, as amended.

The foregoing summary is qualified in its entirety by reference to the full text of the Amended and Restated By-laws, a copy of which is filed as Exhibit 3.1 hereto and incorporated in this Item 5.03 by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

  Exhibit      Description                                                   
 ─────────────────────────────────────────────────────────────────────────────
      3.1      Amended and Restated Bylaws of Tootsie Roll Industries, Inc.  
     99.1      Press Release                                                 
      104      Cover Page Interactive Data