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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.03Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
Effective March 25, 2021, the Board of Directors (the “Board”) of eXp World Holdings, Inc. (the “Company”), amended Section 1.10 (the “Bylaws Amendment”) of the Company’s Amended and Restated Bylaws (the “Bylaws”) to update and clarify the ability of stockholders to take action by written consent. As a result of the Bylaws Amendment, stockholders may take action by written consent so long as the Company is a “controlled company” under the rules of the Nasdaq Stock Market. Prior to the amendment, the Bylaws had provided that stockholder action by written consent could be taken only if Glenn Sanford and Penny Sanford, the Company’s largest stockholders, held in the aggregate a majority in voting power of all shares entitled to vote in the election of directors. The Bylaws Amendment has had no practical effect on the ability of stockholders to take action by written consent, because Glenn and Penny Sanford have held a majority in voting power, and the Company has been a “controlled company” under Nasdaq rules, continuously since the effective date of the Bylaws Amendment.
The foregoing summary of the Bylaws Amendment is qualified in its entirety by reference to the full text of the Bylaws Amendment, which is attached hereto as Exhibit 3.2 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Description | |
3.2 | Amendment to Amended and Restated Bylaws of eXp World Holdings, Inc. | |
104 | Cover Page Interactive Data File (embedded within the inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| eXp World Holdings, Inc. |
| (Registrant) |
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Date: December 3, 2021 | /s/ James Bramble |
| James Bramble |
| General Counsel |
