Company: JBI
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001140361-25-015724
Chunk: 86

Company: Janus International Group, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 86
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ended and Restated Certificate of Incorporation, in the form attached hereto as Annex A(the “Third Amended and Restated Certificate”), which would effect the Declassification Amendment. If approved by shareholders, the proposed Declassification Amendment would amend Article VI of our Certificate to provide that our classified board structure will be phased out beginning at next year’s annual meeting of shareholders (the “2026 Annual Meeting”), when each Class II director will stand for election for a two-year term. At the 2027 annual meeting of shareholders (the “2027 Annual Meeting”), each of the Class III directors will stand for election for a one-year term. Finally, at the 2028 annual meeting of shareholders (the “2028 Annual Meeting”) and at all annual meetings of shareholders thereafter, all directors will stand for election for a one-year term and until such director’s successor is duly elected and qualified or until such director’s earlier death, resignation or removal from office. The phasing-in of annual elections of directors over this period is designed so that the term of any director previously elected by the shareholders for such term will not be shortened, and to ensure a smooth transition to a system of annual elections of all directors. The Declassification Amendment also provides that any director elected to fill any vacancy on the Board, or any newly created director positions resulting from an increase in the number of directors, before the 2028 Annual Meeting would serve the remainder of the term for the class to which they are elected. Under Delaware law, directors of companies that have a classified board may be removed only for cause, unless the certificate of incorporation provides otherwise, while directors of companies that do not have a classified board may be removed with or without cause. Article VI of our Certificate currently provides that a director may be removed from office only for cause and upon the affirmative vote of the holders of at least 66 2/3% of the total voting power of the then outstanding shares of stock of the Company entitled to vote generally in the election of directors. The proposed Declassification Amendment will amend such provision to provide that, beginning with the 2028 Annual Meeting (that is, the first annual meeting of shareholders at which the Board will no longer be classified), a director may be removed from office with or without cause. In addition, the proposed Supermajority Elimination Amendments described in Proposal 5 would, among other things, amend Article VI such that the removal of directors would require the affirmative vote of the holders of at least a majority of the total voting