Updated CNC Scholarship Policy
Effective 4/9/2023 – At a recently scheduled Chitina Native Corporation Board Meeting, the scholarship policy was updated and amended in an effort to get more participation across the company from our shareholders, both original and newly formed Class L shareholders are included. The Board removed wording around descendants and included those individuals within the policy to encourage those descendants to become Class L shareholders. The board also streamlined the requirements for submittal and elected to shorten the awards process. This update is in alignment with the Board of Directors effort to increase benefits to our shareholders.
New Chitina Native Corporation Shareholder Settlement Trust
In the CNC presidents letter, a notice of annual meeting, you will also see the introduction of a Shareholder Resolution 2023-01 “Resolution of the Shareholders of Chitina Native Corporation to establish a Settlement Trust.” In an effort for your corporation to maximize and pursue providing benefits to its shareholders the CNC Board of Directors has chosen to create a new Shareholder Settlement Trust. Although CNC currently has a trust, our current trust will not allow CNC to provide some benefits in a tax-furthering way - potentially including scholarships, health, cultural education, and burial assistance. A copy of the Trust Agreement for the new Trust will be included on this page and included in your proxy packet, along with other proxy materials. In order to establish a new shareholder trust, an affirmative vote of shares that represents a majority of the shares present or represented by proxy at the annual meeting.
Every vote counts and is important! Please reach out to shareholder relations with any questions or email info@chitinacorp.com.