Midwest Holding Inc. (MDWT)

[Big Casino 1518]

8-K issued RE: reverse split

https://www.sec.gov/Archives/edgar/data/355379/000155837020010687/tmb-20200810x8k.htm

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On Tuesday, July 14, 2020, Midwest Holding Inc. (the “Company”) held its 2020 Annual Meeting of Shareholders (the “Annual Meeting”). Following the receipt of stockholder approval at the Annual Meeting as described in Item 5.07 of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 14, 2020, the Company filed an Articles of Amendment of Amended and Restated Articles of Incorporation of the Company on August 10, 2020 that, among other things, changed the total number of shares that the Company is authorized to issue is twenty-two million (22,000,000) shares of Common Stock, of which twenty million (20,000,000) shares are designated as voting common stock, par value $0.001 per share (the “Voting Common Stock”) and two million (2,000,000) shares are designated as the nonvoting common stock, par value $0.001 per share (the “Nonvoting Stock”); and two million (2,000,000) shares of preferred stock, par value $0.001 per share (the “Preferred Stock”).

In addition, the number of directors shall be fixed from time to time exclusively by the Board of Directors pursuant to a resolution adopted by a majority of the whole board. The directors shall be divided into three classes, with the term of office of the first class to expire at the next annual meeting of shareholders, the term of office of the second class to expire at the annual meeting of shareholders one year thereafter and the term of office of the third class to expire at the annual meeting of shareholders two years thereafter. At each annual meeting of shareholders following such initial classification and election, directors elected to success those directors whose terms expire shall be elected for a term of office to expire at the third succeeding annual meeting of shareholders after their election.

The foregoing Articles of Amendment to the Amended and Restated Articles of Incorporation were filed with the Secretary of State of the State of Nebraska on August 5, 2020 and were accepted and effective as of August 10, 2020.

The foregoing description of the Articles of Amendment to the Amended and Restated Articles of Incorporation does not purport to be complete and is qualified in its entirety by reference to the full text of the exhibits attached hereto and incorporated by reference herein.