Southwest Airlines Co. has announced amendments to its bylaws following changes to the Texas Business Organizations Code. Effective May 16, 2025, these amendments set a minimum ownership threshold of 3% of the company's common stock for shareholders to pursue derivative proceedings. Additionally, the bylaws designate the United States District Court for the Northern District of Texas or the Texas Business Court in Dallas County as the exclusive forum for certain internal claims, unless the company consents to a different venue. Shareholders also waive the right to a jury trial for internal entity claims and other related legal actions.
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