They must not have enough votes to de=classify the board. Probably some large shareholders looking for a bigger run-up in price before handing over their votes...just a guess!!
They need 75% of ALL shares. Probably a lot of people haven't returned their proxies. Declassifying the board gives them a better shot at getting people they want on the board.
I am sure it is something that benefited them more, which is why they put it off. Like the board cares about us bagholders.