SEC Filings

AMSURG CORP filed this Form 10-12G/A on 11/03/1997
Entire Document
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change from time to time as determined by the Board of Directors. The AmSurg
Charter provides for the classification of the Board of Directors. Under the
terms of the AmSurg Charter, the members of the Board of Directors are divided
into three classes, serving staggered three-year terms. As a result, one-third
of AmSurg's Board of Directors will be elected each year. See "MANAGEMENT OF
AMSURG." This provision could prevent a party who acquires control of a majority
of the outstanding voting stock from obtaining control of AmSurg's Board of
Directors until the second annual shareholders' meeting following the date the
acquiror obtains the controlling stock interest. This provision may have the
effect of discouraging a potential acquiror from making a tender offer or
otherwise attempting to obtain control of AmSurg, and could also increase the
likelihood that incumbent directors will retain their positions.
     The Charter provides that directors may be removed only for "cause" and
only by the affirmative vote of the holders of a majority of the voting power of
all the shares of AmSurg's capital stock then entitled to vote in the election
of directors, voting together as a single class, unless the vote of a special
voting group is otherwise required by law. "Cause" is defined in the Charter as:
(i) a felony conviction of a director or the failure of a director to contest
prosecution for a felony; (ii) conviction of a crime involving moral turpitude;
or (iii) willful and continued misconduct or gross negligence by a director in
the performance of his or her duties as a director. The Charter also provides
that in order to call a special meeting of shareholders, written demands of the
holders of at least 15% of the voting power of each class of AmSurg Common Stock
must be received. These provisions, in conjunction with the provision of the
Bylaws authorizing the Board of Directors to fill vacant directorships, may
prevent stockholders from removing incumbent directors without cause and filling
the resulting vacancies with their own nominees.
     Advance Notice for Stockholder Proposals or Making Nominations at
Meetings.  The Bylaws establish an advance notice procedure for stockholder
proposals to be brought before a meeting of stockholders of AmSurg and for
nominations by stockholders of candidates for election as directors at an annual
meeting or a special meeting at which directors are to be elected. Subject to
any other applicable requirements, only such business may be conducted at a
meeting of stockholders as has been brought before the meeting by, or at the
direction of, the Board of Directors, or by a stockholder who has given to the
Secretary of AmSurg timely written notice in proper form, of the stockholder's
intention to bring that business before the meeting. The presiding officer at
such meeting has the authority to make such determinations. Only persons who are
selected and recommended by the Board of Directors, or the committee of the
Board of Directors designated to make nominations, or who are nominated by a
shareholder who has given timely written notice, in proper form, to the
Secretary prior to a meeting at which directors are to be elected will be
eligible for election as directors of AmSurg.
     To be timely, notice of nominations or other business to be brought before
any meeting must be received by the Secretary of AmSurg not later than 120 days
in advance of the anniversary date of AmSurg's proxy statement for the previous
year's annual meeting or, in the case of special meetings, at the close of
business on the tenth day following the date on which notice of such meeting is
first given to shareholders.
     The notice of any shareholder proposal or nomination for election as
director must set forth various information required under the Bylaws. The
person submitting the notice of nomination and any person acting in concert with
such person must provide, among other things, the name and address under which
they appear on AmSurg's books (if they so appear) and the class and number of
shares of AmSurg's capital stock that are beneficially owned by them.
     Amendment of the Bylaws and Charter.  Except with respect to amendments to
the Bylaws or Charter relating to the classified structure of the Board of
Directors which are required to be approved by the affirmative vote of
two-thirds of the voting power of the shares entitled to vote in the election of
directors, the Bylaws provide that a majority of the members of the Board of
Directors who are present at any regular or special meeting or the holders of a
majority of the voting power of all shares of AmSurg's capital stock represented
at a regular or special meeting have the power to amend, alter, change, repeal,
or restate the Bylaws.
     Except as may be set forth in resolutions providing for any class or series
of preferred stock, any proposal to amend, alter, change, or repeal any
provision of the Charter requires approval by the affirmative vote of both