Dril-Quip board approves termination of stockholder rights plan
The Company's Board of Directors approved the termination of the stockholder rights plan by amending the associated rights agreement to accelerate the expiration date to the close of business on February 26, 2018, effectively terminating the plan as of that date. Stockholders are not required to take any action as a result of this expiration. In connection with the expiration of the rights plan, the Company will be taking routine actions to voluntarily deregister the related rights to purchase preferred stock under the Securities Exchange Act of 1934, as amended, and to delist the rights to purchase preferred stock from the New York Stock Exchange. These actions are administrative in nature and will have no effect on Dril-Quip's common stock, which continues to be listed on the New York Stock Exchange.