Ford Motor Company announced that its Board of Directors has approved amendments to its corporate By-Laws and key executive retirement plans. The changes include modernizing stockholder meeting rules, removing the director retirement age, and closing the Select Retirement Plan (SRP) to new retirees starting in 2026.
Key Details
- Retirement Plan Updates: The Select Retirement Plan (SRP) will be closed to new retirees effective January 2, 2026. Both the SRP and the Benefit Equalization Plan (BEP) were amended and restated, with changes effective January 1, 2026.
- By-Law Amendments: Effective immediately as of December 11, 2025, the company's By-Laws were amended to remove the director retirement age provision.
- Corporate Governance Modernization: Other By-Law updates include clarifying procedures for virtual stockholder meetings and modernizing advance notice provisions to align with new SEC universal proxy card rules.