Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
As disclosed below, at the reconvened 2020 Annual Meeting of Stockholders of Black Creek Industrial REIT IV Inc. (the “Company”), held on August 4, 2020 (the “2020 Annual Meeting”), the stockholders of the Company, by a majority of all votes entitled to be cast at the 2020 Annual Meeting, approved the adoption of an amendment to the Company’s charter (the “Amendment”). The Amendment was proposed in order to conform certain provisions to the wording used in the standards set forth in the Statement of Policy Regarding Real Estate Investment Trusts promulgated by the North American Securities Administrators Association (the “NASAA Guidelines”). The Amendment revised Section 12.2 of Article XII of the Charter, which sets forth the voting rights of stockholders. The Amendment removed language that securities administrator in one state believes could be used to dilute common stockholder voting rights, in the event that the Company has classes or series of stock in the future with special voting rights. As the Company does not have any classes or series of stock with special voting rights, such as preferred stock, the Company does not expect the Amendment to have a meaningful impact on the Company or its stockholders. The Amendment was filed with the Maryland State Department of Assessments and Taxation and became effective on August 4, 2020. The foregoing description of the Amendment is qualified in its entirety by reference to the Amendment, a copy of which is attached to this Current Report on Form 8-K as Exhibit 3.1 and is incorporated herein by reference.
Item 5.07. Submission of Matters to a Vote of Security Holders.
Proposal No. 3. As disclosed above, on August 4, 2020, the Company reconvened the 2020 Annual Meeting to consider the proposal to approve the Amendment, which requires the affirmative vote of at least a majority of the Company's outstanding shares of common stock entitled to vote thereon in order to pass. Sufficient votes in favor were received to pass the proposal, as set forth below.
With respect to Proposal No. 3, the Company received no broker non-votes. Broker non-votes are counted as present for purposes of determining a quorum. A broker non-vote occurs when a broker holding shares of the Company’s common stock for a beneficial owner is present at the meeting, in person or by proxy, and entitled to vote, but does not vote on a particular proposal because the broker does not have discretionary voting power with respect to that item and has not received voting instructions from the beneficial owner. A broker non-vote is not an indication of how the beneficial owner would have voted; it simply means that the beneficial owner did not instruct the broker as to how to vote his or her shares.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
