Company: CFBK
Filing Date: 2025-01-21
Form Type: S-3/A
Source: 0001193125-25-009427
Chunk: 21

Company: CF BANKSHARES INC.
Filing Date: 2025-01-21
Form: S-3/A
Chunk 21
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, classification and nominations of directors (Article Sixth), amendment of the Bylaws
(Article Seventh), approval of certain business combinations (Article Eighth), director and officer indemnification (Article Tenth) and amendment of our Certificate of Incorporation (Article Twelfth). Article VIII of the Bylaws specifies that the
Bylaws may be amended only by a majority of the members of the Board of Directors or by the affirmative vote of stockholders holding at least 80% of the outstanding shares of our voting stock.

Advance Notice Required to Nominate Candidates for Director or to Make a Proposal

Article Sixth of our Certificate of Incorporation incorporates by reference Article I, Section 6 of the Bylaws, as it pertains to
stockholder nominations for director. As noted above, a stockholder who intends to nominate a candidate for election to the Board of Directors must give us at least 90-days’ advance notice. Article I,
Section 6 of the Bylaws also requires a stockholder to give 90-days’ prior notice with respect to any new business to be brought before an annual meeting of stockholders; the stockholder also must
provide certain information to us concerning the nature of the new business, the stockholder and the stockholder’s interest in the business matter. Similarly, a stockholder wishing to nominate any person for election as a director must provide
us with

certain information concerning the nominee and the proposing stockholder. In addition, at any special meeting of the stockholders,
only such business shall be conducted as shall have been brought before the meeting by or at the direction of the Board of Directors.

Federal law provides that no person or company, directly or indirectly or acting in concert with one or more persons, or through one or more
subsidiaries, or through one or more transactions, may acquire control of a national banking association at any time without the prior approval of the OCC. Federal law also provides that no person or company, directly or indirectly or acting in
concert with one or more persons, or through one or more subsidiaries, or through one or more transactions, may acquire control of a bank holding company at any time without the prior approval of the FRB. In addition, any company that acquires
control of us becomes a bank holding company subject to registration, examination and regulation as a bank holding company. Control in this context means ownership of, control of, or holding proxies representing more than 25% of the voting shares of
a national bank or the power to control in any manner the election of