Crown Castle enters amended cooperation agreement with Elliott

Crown Castle disclosed earlier that it entered into an amendment to its cooperation agreement with between Elliott Investment Management and the company. The amendment eliminates limitations on the size of the board as well as the size of each of the fiber review committee and the Chief Executive Officer search committee and provides that the board may change the size of the board or either committee. The amendment provides that Elliott will vote at the company’s 2024 annual meeting any common stock beneficially owned by it or certain of its affiliates pro rata in accordance with the vote of the other company stockholders. The amendment further provides that if the board determines in good faith after consulting with counsel that its fiduciary duties require recommending a vote “against” either or both of Jason Genrich and Sunit Patel, then, among other things, the board may change its recommendation regarding either or both of the specified directors and will have no obligation to solicit proxies with respect to any specified director whom it is no longer recommending.