Pulte amends rights agreement; shareholders to vote on plan in 2010

By Lisa Kerner

Charlotte, N.C., Sept. 24 - Pulte Homes, Inc. said it entered into a second amendment to the section 382 rights agreement between Pulte and Computershare Trust Co., NA revising the expiration date of the rights.

The plan, dated March 5, 2009 and amended April 7, will expire on June 1, 2010 if not approved by Pulte shareholders at the 2010 annual meeting.

According to a Pulte news release, the final expiration date was changed to June 1, 2013 from March 16, 2019.

"Pulte's board of directors is submitting the rights plan for shareholder approval in response to shareholder concerns expressed at our 2009 annual meeting," Pulte chairman, president and chief executive officer Richard J. Dugas Jr. said in the release.

"The board remains on track to address the other recommendations put forth by the board's nominating and governance committee regarding declassification of the board in time for action at the 2010 annual meeting."

Pulte is a Bloomfield Hills, Mich., homebuilder.

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