Executive Moves Update – September 5, 2025

Ticker: DDD
Mkt Cap: $262.9M
1-Yr TSR: 8.5%
Board Rating: D

• On August 20, 2025, Phyllis Nordstrom was appointed as interim Chief Financial Officer of 3D Systems Corporation, effective August 29, 2025.  (view source)

• CFO Tenure Was Under 2 Years: Jeffrey D Creech
• Class Action
• Director Elections: < 95% average votes FOR
• Executive Termination(s) within the last year
• Gov Risk: Average Director tenure over 10 years
• Gov Risk: Entrenched Board
• High CFO Turnover
• Late Filings (NT 10-K / NT 10-Q) within the last year
• Multiple Dismissed Ind. Accountants within the last 3 years
• SEC Investigation Related
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: ASIX
Mkt Cap: $564.8M
1-Yr TSR: -21.8%
Board Rating: C

• Dana O’Brien and Daryl Roberts were appointed as Directors of AdvanSix Inc. on September 2, 2025.  (view source)

• Bankruptcy Alert: 1 director has a bankruptcy history (ASIX)
• CFO Tenure Was Under 2 Years: Sidd Manjeshwar
• Executive Termination(s) within the last year

Ticker: AMTB
Mkt Cap: $903.9M
1-Yr TSR: 3.8%
Board Rating: C-

• Juan Esterripa is stepping down from his role as Senior Executive Vice-President and Chief Commercial Banking Officer at Amerant Bancorp Inc. effective September 3, 2025.  (view source)

• Cyber Incident(s) within the last year
• Director Elections: < 95% average votes FOR
• Gov Risk: Chairman is not independent
• High Activist Vulnerability Risk Score (97)
• Negative Say-On-Pay Vote: 82% For
• Workforce Reduction

Ticker: ABAT
Mkt Cap: $230.6M
1-Yr TSR: 134.6%
Board Rating: D

• On August 28, 2025, Sherif Marakby resigned from the Board of Directors of American Battery Technology Company, and on August 29, 2025, Lavanya Balakrishnan was appointed as a new director, effective September 16, 2025.  (view source)

• CFO Tenure Was Under 2 Years: Jesse Deutsch
• Director Elections: < 95% average votes FOR
• Going Concern Risk Filings in the last year
• High CFO Turnover
• Internal Control Risk
• Limited external board experience
• Listing Rule Violation: Minimum Bid
• Negative Say-On-Pay Vote: 71% For
• SEC Correspondence in the last year
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years

Ticker: AWHL
Mkt Cap: $2.4M
1-Yr TSR: -97.6%

• On September 2, 2025, Brian Hungerford was appointed as Chief Financial Officer and Principal Accounting Officer of Aspira Women’s Health Inc., replacing Julie Carrillo.  (view source)

• 13D filed in the last 6 months
• Abnormally High 8-K Filings
• CEO Tenure Was Under 2 Years: Michael Buhle
• Going Concern Risk Filings in the last year
• Gov Risk: No lead independent director
• High CFO Turnover
• Internal Control Risk
• Late Filings (NT 10-K / NT 10-Q) within the last year
• Negative Say-On-Pay Vote: 77% For
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years

Ticker: ATRA
Mkt Cap: $89.9M
1-Yr TSR: 41.4%
Board Rating: C-

• On September 2, 2025, Ameet Mallik, Pascal Touchon, and Maria Grazia Roncarolo, M.D. voluntarily resigned from the Board of Atara Biotherapeutics, Inc., while Gregory A. Ciongoli was appointed as Chair of the Board.  (view source)

• 13D filed in the last 6 months
• Cyber Incident(s) within the last year
• Director Elections: < 95% average votes FOR
• Executive Termination(s) within the last year
• Going Concern Risk Filings in the last year
• Gov Risk: Classified Board / Staggered Director Elections
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: AXON
Mkt Cap: $57.3B
1-Yr TSR: 105.5%
Board Rating: A-

• On August 28, 2025, Todd Morgenfeld was appointed to the Board of Directors of Axon Enterprise, Inc., effective immediately, and will also serve on the Audit Committee and Mergers and Acquisitions and Capital Structure Committee.  (view source)

• Amended Filing (10-K/A)
• Director Elections: < 95% average votes FOR
• High CFO Turnover
• Internal Control Risk
• Negative Say-On-Pay Vote: 66% For
• Significant Stock Drop(s) in past 2 years

Ticker: BANR
Mkt Cap: $2.3B
1-Yr TSR: 19.2%
Board Rating: C+

• Millicent Tracey was elected as a director of Banner Corporation and its subsidiary, effective September 1, 2025.  (view source)

• Gov Risk: Entrenched Board
• Ind. Accountant Resigned
• Overboarding
• Workforce Reduction

Ticker: BBT
Mkt Cap: $1.2B
1-Yr TSR: -1.0%
Board Rating: C-

• As of September 1, 2025, several individuals were appointed as executive officers of Beacon Financial, including Paul A. Perrault as CEO and Carl M. Carlson as CFO, among others.  (view source)

• Amended Filing (10-K/A)
• Amended Filings (10-K/A) within the last year
• High CFO Turnover
• Merger Agreement
• SEC Correspondence in the last year
• Settlement Agreement
• Workforce Reduction

Ticker: BHE
Mkt Cap: $1.4B
1-Yr TSR: -.4%
Board Rating: B

• On September 2, 2025, Benchmark Electronics announced the retirement of Jeffrey W. Benck as CEO effective March 31, 2026, and the appointment of David Moezidis as President and CEO upon Benck’s retirement.  (view source)

• Amended Filing (10-K/A)
• Amended Filings (10-K/A) within the last year
• CFO Tenure Was Under 2 Years: Arvind Kamal
• Cyber Incident(s) within the last year
• Workforce Reduction

Ticker: BSX
Mkt Cap: $159.0B
1-Yr TSR: 30.9%
Board Rating: A-

• Jeffrey B. Mirviss is retiring from his role as Executive Vice President and President, Peripheral Interventions effective December 1, 2025, but will remain as a senior advisor until February 27, 2026.  (view source)

• Gov Risk: Chairman is not independent
• Section 220 Disclosure
• Settlement Agreement
• Workforce Reduction

Ticker: BRDG
Mkt Cap: $1.2B
1-Yr TSR: 19.1%
Board Rating: C-

• Several directors resigned from the board of the Company in connection with the completion of the Corporate Merger.  (view source)

• 13D filed in the last 6 months
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: Multi-Class Shares
• Gov Risk: No lead independent director
• Merger Agreement
• Significant Stock Drop(s) in past 2 years

Ticker: BHF
Mkt Cap: $2.5B
1-Yr TSR: -2.8%
Board Rating: C-

• Brighthouse Financial, Inc. appointed Myles J. Lambert as Executive Vice President and Chief Operating Officer, and Melissa Pavlovich as Chief Accounting Officer, both effective August 30, 2025.  (view source)

• Bankruptcy Alert: 1 director has a bankruptcy history (BHF)
• Cyber Incident(s) within the last year
• High Activist Vulnerability Risk Score (99)

Ticker: BKD
Mkt Cap: $1.8B
1-Yr TSR: 9.8%
Board Rating: C+

• H. Todd Kaestner is exiting his role as Executive Vice President – Corporate Development and President – CCRCs effective September 30, 2025, as part of Brookdale Senior Living Inc.’s organizational restructuring.  (view source)

• Abnormally High 8-K Filings
• Amended Filing (10-K/A)
• Contested Proxy (BKD)
• Director Elections: < 95% average votes FOR
• Executive Termination(s) within the last year
• Gov Risk: Classified Board / Staggered Director Elections
• Proxy Fight in the last 2 years
• Settlement Agreement

Ticker: CPB
Mkt Cap: $9.7B
1-Yr TSR: -34.2%
Board Rating: D

• On September 2, 2025, Stanley Polomski announced his transition to a new role, and Kelly L. Palumbo was appointed to a senior position, both effective September 22, 2025.  (view source)

• High Activist Vulnerability Risk Score (91)

Ticker: CARR
Mkt Cap: $54.1B
1-Yr TSR: -6.9%
Board Rating: A-

• On September 3, 2025, Carrier Global Corporation appointed Beril Yildiz as Vice President, Controller and Chief Accounting Officer, while Patrick Goris will cease serving as interim Controller on her Commencement Date and continue as CFO.  (view source)

• 13D filed in the last 6 months
• Negative Say-On-Pay Vote: 85% For
• SEC Correspondence in the last year
• Settlement Agreement

Ticker: BNC
Mkt Cap: $14.4M
1-Yr TSR: 152.1%
Board Rating: C-

• On August 29, 2025, Alexander Monje resigned as a director of the Company, and Russell Read was appointed as a director to fill the vacancy.  (view source)

• 13D filed in the last 6 months
• Director Elections: < 95% average votes FOR
• Gov Risk: Chairman is not independent
• Gov Risk: No lead independent director
• Internal Control Risk
• Limited external board experience
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years

Ticker: CC
Mkt Cap: $2.3B
1-Yr TSR: -14.9%
Board Rating: D

• Mary Cranston has been appointed as Chair of the Board, Alister Cowan as Lead Independent Director, and Dawn Farrell is exiting her role as CEO to join the Canadian government.  (view source)

• Abnormally High 8-K Filings
• High Activist Vulnerability Risk Score (86)
• Internal Control Risk
• SEC No Action letter(s) in the last 2 years
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: COKE
Mkt Cap: $10.4B
1-Yr TSR: -11.1%
Board Rating: A-

• Robert G. Chambless is transitioning to the role of Executive Vice President, Senior Advisor to the Chairman and CEO effective January 1, 2026, and plans to retire in 2027.  (view source)

• Gov Risk: Average Director tenure over 10 years
• Gov Risk: Chairman is not independent
• Gov Risk: Entrenched Board

Ticker: COLB
Mkt Cap: $5.6B
1-Yr TSR: 16.5%
Board Rating: C-

• Three former directors of Pacific Premier were appointed as directors of Columbia effective at the time of the merger.  (view source)

• Abnormally High 8-K Filings
• Bankruptcy Alert: 1 director has a bankruptcy history (COLB)
• Cyber Incident(s) within the last year
• Gov Risk: Chairman is not independent
• High Activist Vulnerability Risk Score (89)
• Hot Seat Risk Score – CEO: Elevated (62)
• Merger Agreement
• SEC Correspondence in the last year
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: CBSH
Mkt Cap: $8.2B
1-Yr TSR: 4.0%
Board Rating: C+

• Mr. Jonathan M. Kemper retired from the Board of Directors effective August 31, 2025.  (view source)

• Director Elections: < 95% average votes FOR
• Gov Risk: Average Director tenure over 10 years
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: Entrenched Board
• Limited external board experience
• Merger Agreement
• Settlement Agreement

Ticker: CRMD
Mkt Cap: $955.5M
1-Yr TSR: 123.0%
Board Rating: B

• Susan Blum, Elizabeth Hurlburt, and Matthew David have been appointed as the Company’s Chief Financial Officer, Chief Operating Officer, and Chief Business Officer, respectively, effective as of the Closing Date.  (view source)

• Bankruptcy Alert: 1 director has a bankruptcy history (CRMD)
• Director Elections: < 95% average votes FOR
• Ind. Accountant Resigned
• Merger Agreement
• Negative Say-On-Pay Vote: 87% For
• Negative Say-On-Pay Vote: 88% For
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years

Ticker: CSW
Mkt Cap: $4.5B
1-Yr TSR: -15.8%
Board Rating: B+

• On August 26, 2025, Fang Wang was promoted to Vice President and Chief Accounting Officer, while James Perry ceased to serve as the principal accounting officer but remains CFO.  (view source)

• Gov Risk: Chairman is not independent
• Merger Agreement

Ticker: DE
Mkt Cap: $128.4B
1-Yr TSR: 22.9%
Board Rating: A-

• Cory Reed has been elected as President, Lifecycle Solutions, Supply Management, and Customer Success, effective November 3, 2025, transitioning from his current role as President, Worldwide Ag & Turf Division.  (view source)

• Gov Risk: Chairman is not independent
• High CFO Turnover
• Negative Say-On-Pay Vote: 89% For
• SEC No Action letter(s) in the last 2 years
• Workforce Reduction

Ticker: DOCU
Mkt Cap: $15.4B
1-Yr TSR: 32.8%
Board Rating: C-

• Mike Rosenbaum was appointed as a director of DocuSign, effective September 3, 2025, and James Beer was appointed as Board Chair.  (view source)

• Director Elections: < 95% average votes FOR
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: No lead independent director
• High Activist Vulnerability Risk Score (82)
• High CFO Turnover
• Immediate Resignation
• Negative Say-On-Pay Vote: 56% For
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: EPC
Mkt Cap: $1.1B
1-Yr TSR: -40.2%
Board Rating: C-

• On August 29, 2025, Daniel J. Sullivan, the Chief Operating Officer of Edgewell Personal Care Company, announced his resignation effective October 1, 2025.  (view source)

• Amended Filing (10-K/A)
• Significant Stock Drop(s) in past 2 years

Ticker: ECOR
Mkt Cap: $37.3M
1-Yr TSR: -18.6%
Board Rating: B-

• On September 2, 2025, Elena Bonfiglioli was appointed as a new Class II director on the Board, and Thomas J. Errico, M.D. was appointed chairman of the Board, succeeding F. Peter Cuneo who retired.  (view source)

• 13D filed in the last 6 months
• Director Elections: < 95% average votes FOR
• Going Concern Risk Filings in the last year
• Gov Risk: Classified Board / Staggered Director Elections
• Internal Control Risk
• Merger Agreement
• Negative Say-On-Pay Vote: 82% For
• Negative Say-On-Pay Vote: 87% For
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: EU
Mkt Cap: $434.1M
1-Yr TSR: -28.9%
Board Rating: C+

• Stacy Nieuwoudt is resigning from her position as a member of the Board of Directors of enCore Energy Corp, effective August 29, 2025.  (view source)

• Abnormally High 8-K Filings
• CFO Tenure Was Under 2 Years: Shona Wilson
• Director Elections: < 95% average votes FOR
• Gov Risk: Entrenched Board
• Internal Control Risk
• Limited external board experience
• SEC Correspondence in the last year
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years

Ticker: EPAM
Mkt Cap: $9.4B
1-Yr TSR: -16.2%
Board Rating: C+

• On August 27, 2025, EPAM Systems, Inc. appointed Balazs Fejes as CEO and President, and Arkadiy Dobkin transitioned to Executive Chairman while remaining Chair of the Board.  (view source)

• Director Elections: < 95% average votes FOR
• Gov Risk: Average Director tenure over 10 years
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• High Activist Vulnerability Risk Score (79)
• Limited external board experience
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: EVRG
Mkt Cap: $16.5B
1-Yr TSR: 23.7%
Board Rating: C+

• On August 28, 2025, Mr. Charles Caisley was elected as Executive Vice President, Utility Operations and Chief Customer Officer of Evergy, effective October 1, 2025, transitioning from his previous role as Executive Vice President, Public Affairs and Chief Customer Officer.  (view source)

• Bankruptcy Alert: 1 director has a bankruptcy history (EVRG)
• Gov Risk: Chairman is not independent
• High CFO Turnover
• SEC No Action letter(s) in the last 2 years
• Settlement Agreement

Ticker: FIBK
Mkt Cap: $3.4B
1-Yr TSR: 16.2%
Board Rating: C-

• On August 29, 2025, Renu Agrawal was appointed as a Class III director on the Board of First Interstate BancSystem, Inc.  (view source)

• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: Entrenched Board
• Gov Risk: Multi-Class Shares
• High Activist Vulnerability Risk Score (96)
• Pledging
• Rule 10b5-1 Entered

Ticker: FWRD
Mkt Cap: $935.5M
1-Yr TSR: -9.3%
Board Rating: C-

• Michael B. Hodge resigned from the Board of Directors of Forward Air Corporation, effective August 29, 2025.  (view source)

• 13D filed in the last 6 months
• Amended Filing (10-K/A)
• Bankruptcy Alert: 1 director has a bankruptcy history (FWRD)
• Cyber Incident(s) within the last year
• High Activist Vulnerability Risk Score (81)
• High CFO Turnover
• Internal Control Risk
• Late Filings (NT 10-K / NT 10-Q) within the last year
• Limited external board experience
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years

Ticker: GUTS
Mkt Cap: $45.3M
1-Yr TSR: -73.4%
Board Rating: D

• On August 29, 2025, Fractyl Health, Inc. appointed Christopher Thompson, M.D. and Ian Sheffield as directors, while Amy W. Schulman resigned from her director position.  (view source)

• Director Elections: < 95% average votes FOR
• Going Concern Risk Filings in the last year
• Gov Risk: Classified Board / Staggered Director Elections
• Limited external board experience
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years
• Stock Alert: All-time low at $0.90
• Workforce Reduction

Ticker: FRSH
Mkt Cap: $3.8B
1-Yr TSR: 12.6%
Board Rating: C-

• Rathna Girish Mathrubootham will retire from his roles as Executive Chairman and Class III Director effective December 1, 2025, and Roxanne Austin will become Chairperson of the Board on the same date.  (view source)

• 13D filed in the last 6 months
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: Multi-Class Shares
• High Activist Vulnerability Risk Score (81)
• Hot Seat Risk Score – CEO: Elevated (63)
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: GBFH
Mkt Cap: $548.6M
1-Yr TSR: %

• T. Ryan Sullivan is exiting as President and CEO, while Ed Nigro is entering as CEO of GBank Financial Holdings Inc. and its subsidiary, effective September 3, 2025.  (view source)

• 13D filed in the last 6 months
• CEO Tenure Was Under 2 Years: Terrance Ryan Sullivan
• Director Elections: < 95% average votes FOR
• Gov Risk: More than one Director over 75
• SEC Correspondence in the last year

Ticker: GPC
Mkt Cap: $19.6B
1-Yr TSR: 3.3%
Board Rating: C-

• On September 4, 2025, Matthew A. Carey and Court D. Carruthers were appointed as independent directors to the Board, while John R. Holder and Robin C. Loudermilk, Jr. retired from their director positions, effective immediately.  (view source)

• Cooperation Agreement
• Cooperation Agreement in the last 2 years
• Gov Risk: Chairman is not independent
• High Activist Vulnerability Risk Score (92)
• Hot Seat Risk Score – CEO: Elevated (66)
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years

Ticker: GTLB
Mkt Cap: $7.2B
1-Yr TSR: -20.0%
Board Rating: C

• Brian Robins is resigning from his role as Chief Financial Officer effective September 19, 2025.  (view source)

• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: Multi-Class Shares
• Internal Control Risk
• Late Filings (NT 10-K / NT 10-Q) within the last year
• Negative Say-On-Pay Vote: 83% For
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years

Ticker: GMS
Mkt Cap: $4.2B
1-Yr TSR: 31.3%
Board Rating: A-

• As of the Effective Time of the Merger on September 4, 2025, all directors of GMS Inc. resigned, and three new directors were appointed.  (view source)

• Amended Filing (10-K/A)
• Amended Filings (10-K/A) within the last year
• Merger Agreement
• Workforce Reduction

Ticker: GHM
Mkt Cap: $539.7M
1-Yr TSR: 68.0%
Board Rating: B+

• Mauro Gregorio has been appointed to the Board of Directors of Graham Corporation, effective September 1, 2025.  (view source)

• Bankruptcy Alert: 1 director has a bankruptcy history (GHM)
• Gov Risk: Classified Board / Staggered Director Elections
• Significant Stock Drop(s) in past 2 years

Ticker: GNLN
Mkt Cap: $4.6M
1-Yr TSR: -99.9%
Board Rating: D

• On August 29, 2025, Lana Reeve exited as CFO, and Vanessa Guzman-Clark was appointed as the new CFO.  (view source)

• Abnormally High 8-K Filings
• Director Elections: < 95% average votes FOR
• Going Concern Risk Filings in the last year
• High Activist Vulnerability Risk Score (100)
• Hot Seat Risk Score – CEO: High (81)
• Internal Control Risk
• Listing Rule Violation: Minimum Bid
• Multiple Dismissed Ind. Accountants within the last 3 years
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: HRBR
Mkt Cap: $70.0M
1-Yr TSR: 842.9%

• Liam Mackay resigned as CFO of Air Wisconsin, effective September 5, 2025, and Gregg Garvey was appointed as the new CFO effective September 1, 2025.  (view source)

• Internal Control Risk
• Late Filings (NT 10-K / NT 10-Q) within the last year
• Workforce Reduction

Ticker: HSON
Mkt Cap: $27.2M
1-Yr TSR: -43.3%
Board Rating: C+

• On September 2, 2025, Hudson Global, Inc. appointed three individuals to new roles: Hannah Bible as Chief Compliance Officer and Corporate Secretary, Matthew K. Diamond as Chief Accounting Officer, and Shawn Miles as Executive Vice President – Finance.  (view source)

• 13D filed in the last 6 months
• Bankruptcy Alert: 1 director has a bankruptcy history (HSON)
• Director Elections: < 95% average votes FOR
• Gov Risk: No lead independent director
• Limited external board experience
• Merger Agreement
• Negative Say-On-Pay Vote: 81% For
• SEC Correspondence in the last year

Ticker: HUN
Mkt Cap: $1.9B
1-Yr TSR: -46.4%
Board Rating: D

• David M. Stryker is transitioning to a new role as Executive Vice President, Strategic Initiatives, while Julia Wright is entering as Executive Vice President, General Counsel and Secretary, both effective October 13, 2025.  (view source)

• Gov Risk: Chairman is not independent
• High Activist Vulnerability Risk Score (93)
• SEC Correspondence in the last year
• SEC No Action letter(s) in the last 2 years
• Workforce Reduction

Ticker: IQV
Mkt Cap: $31.3B
1-Yr TSR: -26.0%
Board Rating: C+

• Michael J. Fedock will succeed Ronald E. Bruehlman as CFO effective February 28, 2026, while Bruehlman transitions to Senior Advisor to the CEO on the same date.  (view source)

• Bankruptcy Alert: 1 director has a bankruptcy history (IQV)
• Gov Risk: Classified Board / Staggered Director Elections
• Negative Say-On-Pay Vote: 82% For

Ticker: IRMD
Mkt Cap: $917.6M
1-Yr TSR: 56.8%
Board Rating: B+

• Anthony Vuoto retired from his position as a director and Joe Kiani was appointed as a director to fill the vacancy.  (view source)

• Amended Filing (10-K/A)
• Amended Filings (10-K/A) within the last year
• Director Elections: < 95% average votes FOR
• Gov Risk: Average Director tenure over 10 years
• Gov Risk: Chairman is not independent
• Gov Risk: No lead independent director
• Stock Alert: All-time high at $73.85

Ticker: KALA
Mkt Cap: $102.0M
1-Yr TSR: 141.4%
Board Rating: D

• On August 29, 2025, Todd Bazemore was appointed as CEO of KALA BIO, Inc., transitioned from Chief Operating Officer, and elected as a Class II director.  (view source)

• Going Concern Risk Filings in the last year
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• Immediate Resignation
• Overboarding
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: KGS
Mkt Cap: $3.2B
1-Yr TSR: 47.9%
Board Rating: A-

• Nirav Shah resigned from the Board of Directors of Kodiak Gas Services, Inc. on August 27, 2025, and William L. Bullock, Jr. was appointed to the Board effective September 2, 2025.  (view source)

• Amended Filing (10-K/A)
• Amended Filings (10-K/A) within the last year
• Director Elections: < 95% average votes FOR

Ticker: KHC
Mkt Cap: $31.9B
1-Yr TSR: -21.1%
Board Rating: C-

• On September 2, 2025, Carlos Abrams-Rivera will transition to CEO of North American Grocery Co., and Miguel Patricio will transition to Executive Chair of the Board.  (view source)

• High Activist Vulnerability Risk Score (95)
• SEC No Action letter(s) in the last 2 years
• Workforce Reduction

Ticker: DNUT
Mkt Cap: $582.1M
1-Yr TSR: -70.1%
Board Rating: D

• On August 28, 2025, Joseph J. Esposito was appointed as Chief Accounting Officer, effective September 15, 2025, while Kelly McBride resigned from the same position, effective September 12, 2025.  (view source)

• 13D filed in the last 6 months
• Abnormally High 8-K Filings
• Cyber Incident(s) within the last year
• Gov Risk: Chairman is not independent
• High Activist Vulnerability Risk Score (95)
• High CFO Turnover
• Hot Seat Risk Score – CEO: Elevated (75)
• Internal Control Risk
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years

Ticker: KYMR
Mkt Cap: $3.0B
1-Yr TSR: -8.6%
Board Rating: C+

• Ellen Chiniara is retiring as Chief Legal Officer, effective September 3, 2025, and Brian R. Adams will succeed her in the same role.  (view source)

• 13D filed in the last 6 months
• Director Elections: < 95% average votes FOR
• Gov Risk: Classified Board / Staggered Director Elections
• Internal Control Risk
• SEC Correspondence in the last year

Ticker: LAZ
Mkt Cap: $6.4B
1-Yr TSR: 22.6%
Board Rating: B-

• Dmitry Shevelenko was elected to join the Board of Directors of Lazard, Inc., effective September 2, 2025.  (view source)

• Director Elections: < 95% average votes FOR
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: No lead independent director
• Negative Say-On-Pay Vote: 67% For

Ticker: LIVN
Mkt Cap: $3.2B
1-Yr TSR: 18.5%
Board Rating: C-

• On September 3, 2025, Donald Zurbay was appointed to the Board of Directors of LivaNova PLC and as a member of the Audit and Compliance Committee, effective September 4, 2025.  (view source)

• Cyber Incident(s) within the last year
• Going Concern Risk Filings in the last year
• High Activist Vulnerability Risk Score (91)
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: LGVN
Mkt Cap: $11.4M
1-Yr TSR: -65.5%
Board Rating: C-

• On August 27, 2025, Wa’el Hashad stepped down as CEO and Board member, Than Powell was appointed interim CEO effective September 4, 2025, and Dr. Joshua Hare was appointed Executive Chairman of the Board.  (view source)

• Bankruptcy Alert: 1 director has a bankruptcy history (LGVN)
• Going Concern Risk Filings in the last year
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: No lead independent director
• Ind. Accountant Resigned
• Limited external board experience
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years

Ticker: MAZE
Mkt Cap: $659.5M
1-Yr TSR: %

• On September 2, 2025, Misbah Tahir was appointed as the Chief Financial Officer of Maze Therapeutics, Inc.  (view source)

• Overboarding
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years

Ticker: MCHB
Mkt Cap: $256.2M
1-Yr TSR: -17.3%
Board Rating: C-

• On September 2, 2025, several executive appointments and resignations occurred at Mechanics Bank, including the appointment of C.J. Johnson as CEO and Nathan Duda as CFO, while Mark Mason, John Michel, and William Endresen resigned from their respective positions.  (view source)

• Abnormally High 8-K Filings
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: No new Directors in last 5 years
• Limited external board experience
• Merger Agreement
• Pledging
• SEC Correspondence in the last year
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years

Ticker: MAX
Mkt Cap: $814.0M
1-Yr TSR: -30.7%
Board Rating: C-

• Anthony Broglio resigned from the Board of Directors of MediaAlpha, Inc. effective September 4, 2025, due to Insignia no longer owning shares in the company.  (view source)

• 13D filed in the last 6 months
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: MGM
Mkt Cap: $10.1B
1-Yr TSR: 1.1%
Board Rating: C

• Corey Sanders is transitioning from Chief Operating Officer to Senior Advisor to the Chief Executive Officer at MGM Resorts International.  (view source)

• Bankruptcy Alert: 1 director has a bankruptcy history (MGM)
• Cyber Incident(s) within the last year
• Gov Risk: Classified Board / Staggered Director Elections

Ticker: MVIS
Mkt Cap: $331.1M
1-Yr TSR: 23.0%
Board Rating: C-

• On September 2, 2025, Sumit Sharma resigned from the Board, Glen W. DeVos was appointed as President and CEO, and Simon Biddiscombe was appointed as Executive Vice Chair.  (view source)

• Director Elections: < 95% average votes FOR
• High Activist Vulnerability Risk Score (80)
• Immediate Resignation
• Ind. Accountant Resigned
• Negative Say-On-Pay Vote: 80% For
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: MYE
Mkt Cap: $625.5M
1-Yr TSR: 19.2%
Board Rating: B-

• Samantha Rutty has been appointed as Executive Vice President and Chief Financial Officer of Myers Industries, Inc., effective September 22, 2025, while Daniel Hoehn will continue as Interim CFO until that date and then transition to Vice President and Corporate Controller.  (view source)

• Bankruptcy Alert: 1 director has a bankruptcy history (MYE)
• CEO Tenure Was Under 2 Years: Dave Basque
• CFO Tenure Was Under 2 Years: Grant E. Fitz
• Director Elections: < 95% average votes FOR
• Gov Risk: More than one Director over 75
• High CFO Turnover
• Significant Stock Drop(s) in past 2 years

Ticker: NTRS
Mkt Cap: $24.8B
1-Yr TSR: 49.2%
Board Rating: C

• Michael Hunstad has replaced Daniel E. Gamba as President – Asset Management at Northern Trust Corporation, effective September 3, 2025.  (view source)

• Director Elections: < 95% average votes FOR
• Gov Risk: Average Director tenure over 10 years
• Gov Risk: Chairman is not independent
• Gov Risk: Entrenched Board
• SEC Correspondence in the last year

Ticker: NUTX
Mkt Cap: $478.0M
1-Yr TSR: 270.3%
Board Rating: C

• On September 2, 2025, Michael L. Reed was appointed as the Lead Independent Director of Nutex Health, Inc.’s Board of Directors.  (view source)

• Amended Filings (10-K/A) within the last year
• Cyber Incident(s) within the last year
• Director Elections: < 95% average votes FOR
• Failed to File Annual/Quarterly Report
• Gov Risk: Chairman is not independent
• Gov Risk: No lead independent director
• Ind. Accountant Dismissed
• Late Filings (NT 10-K / NT 10-Q) within the last year
• Limited external board experience
• SEC Correspondence in the last year
• Short Report: Blue Orca
• Significant Stock Drop(s) in past 2 years

Ticker: PPBI
Mkt Cap: $2.4B
1-Yr TSR: 1.4%
Board Rating: D

• Three directors from Pacific Premier were appointed to serve as directors of Columbia following the merger.  (view source)

• Gov Risk: Chairman is not independent
• Gov Risk: Entrenched Board
• Gov Risk: More than one Director over 75
• High Activist Vulnerability Risk Score (95)
• Merger Agreement
• SEC Correspondence in the last year

Ticker: PALI
Mkt Cap: $5.8M
1-Yr TSR: -82.5%
Board Rating: D

• J.D. Finley and Ryker Willie have entered into amended employment agreements, continuing in their respective roles as CEO/CFO and Senior VP of Finance.  (view source)

• Going Concern Risk Filings in the last year
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: No lead independent director
• High Activist Vulnerability Risk Score (95)
• Internal Control Risk
• Limited external board experience
• Listing Rule Violation: Minimum Bid
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: PH
Mkt Cap: $95.9B
1-Yr TSR: 32.2%
Board Rating: A-

• On September 1, 2025, Beth A. Wozniak was elected as a Director of Parker-Hannifin Corporation and appointed to two committees.  (view source)

• Gov Risk: No lead independent director
• Negative Say-On-Pay Vote: 88% For
• Stock Alert: All-time high at $768.10

Ticker: CATX
Mkt Cap: $262.9M
1-Yr TSR: -76.4%
Board Rating: B-

• Maya Martinez-Davis has been appointed as a member of the Board of Directors and the Compensation and Nominations Committees, effective September 3, 2025.  (view source)
• Joel Sendek has been appointed as Chief Financial Officer of Perspective Therapeutics, effective September 4, 2025, succeeding Juan Graham who is exiting the role.  (view source)

• Abnormally High 8-K Filings
• Amended Filing (10-K/A)
• Amended Filings (10-K/A) within the last year
• CFO Tenure Was Under 2 Years: Juan Graham
• Director Elections: < 95% average votes FOR
• Gov Risk: Chairman is not independent
• Gov Risk: No lead independent director
• High CFO Turnover
• Negative Say-On-Pay Vote: 73% For
• Significant Stock Drop(s) in past 2 years

Ticker: PLL
Mkt Cap: $159.1M
1-Yr TSR: -13.0%
Board Rating: D

• Several directors and officers resigned in connection with the Merger, and Lucas Dow became the sole director and the President and CEO of the Company.  (view source)

• Abnormally High 8-K Filings
• Gov Risk: Classified Board / Staggered Director Elections
• High Activist Vulnerability Risk Score (91)
• Limited external board experience
• Merger Agreement
• Negative Say-On-Pay Vote: 87% For
• SEC Correspondence in the last year
• SEC Investigation Related
• Workforce Reduction

Ticker: QCOM
Mkt Cap: $172.3B
1-Yr TSR: -.7%
Board Rating: B-

• On September 2, 2025, Dr. Jeremy (Zico) Kolter was elected to the Board of Directors of QUALCOMM Incorporated and appointed to its Governance Committee.  (view source)

• Bankruptcy Alert: 1 director has a bankruptcy history (QCOM)
• Gov Risk: No lead independent director
• High Activist Vulnerability Risk Score (77)
• Negative Say-On-Pay Vote: 89% For

Ticker: RXT
Mkt Cap: $311.2M
1-Yr TSR: -42.0%
Board Rating: C-

• Gajen Kandiah has been appointed as CEO of Rackspace Technology, effective September 3, 2025, succeeding Amar Maletira, who will transition to Vice Chairman of the Board until September 30, 2025, before stepping down from the Board.  (view source)

• Cyber Incident(s) within the last year
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• High Activist Vulnerability Risk Score (77)
• High CFO Turnover
• Immediate Resignation
• Ind. Accountant Dismissed
• Late Filings (NT 10-K / NT 10-Q) within the last year
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: RGEN
Mkt Cap: $6.8B
1-Yr TSR: -16.5%
Board Rating: C-

• Repligen Corporation appointed Violetta Hughes as Chief Accounting Officer, effective September 1, 2025, replacing Jason K. Garland who remains as CFO.  (view source)

• Amended Filing (10-K/A)
• Amended Filing (10-Q/A)
• Amended Filings (10-Q/A, 10-K/A) within the last year
• Cyber Incident(s) within the last year
• Gov Risk: Chairman is not independent
• High Activist Vulnerability Risk Score (88)
• Internal Control Risk
• Late Filings (NT 10-K / NT 10-Q) within the last year
• Workforce Reduction

Ticker: ROST
Mkt Cap: $50.0B
1-Yr TSR: 1.8%
Board Rating: B

• Adam Orvos is retiring as CFO effective September 30, 2025, and William Sheehan is appointed as the new CFO effective October 1, 2025.  (view source)

• Bankruptcy Alert: 1 director has a bankruptcy history (ROST)
• Bankruptcy Alert: Current CEO has bankruptcy history (ROST)
• Gov Risk: Average Director tenure over 10 years
• Gov Risk: Entrenched Board
• Gov Risk: More than one Director over 75
• High CFO Turnover
• Negative Say-On-Pay Vote: 85% For
• SEC No Action letter(s) in the last 2 years

Ticker: SANA
Mkt Cap: $708.7M
1-Yr TSR: -45.8%
Board Rating: D

• Bernard J. Cassidy is retiring as Executive Vice President, General Counsel, and Corporate Secretary effective October 20, 2025, and Aaron M. Grossman is entering as Executive Vice President, Chief Legal Officer on the same date.  (view source)

• Cyber Incident(s) within the last year
• Director Elections: < 95% average votes FOR
• Going Concern Risk Filings in the last year
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: SMTI
Mkt Cap: $303.0M
1-Yr TSR: -1.6%
Board Rating: B

• Seth D. Yon has been appointed as President and CEO, while Ronald T. Nixon is resigning as CEO but will remain as Executive Chairman.  (view source)

• CEO Tenure Was Under 2 Years: Ronald T Nixon
• Gov Risk: Chairman is not independent
• Gov Risk: No lead independent director
• Limited external board experience

Ticker: SEM
Mkt Cap: $1.6B
1-Yr TSR: -30.8%
Board Rating: B

• Select Medical Holdings Corporation announced several leadership changes effective September 1, 2025, including the appointment of Thomas P. Mullin as CEO, John A. Saich as sole President, and David S. Chernow transitioning to Vice Chairman of the Board.  (view source)

• Cyber Incident(s) within the last year
• Gov Risk: Average Director tenure over 10 years
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: Entrenched Board
• SEC No Action letter(s) in the last 2 years
• Significant Stock Drop(s) in past 2 years

Ticker: SENS
Mkt Cap: $365.0M
1-Yr TSR: 20.8%
Board Rating: D

• Brian Hansen has been appointed as the Chief Commercial Officer of the Company, effective January 1, 2026.  (view source)

• Cooperation Agreement
• Director Elections: < 95% average votes FOR
• Going Concern Risk Filings in the last year
• Gov Risk: Classified Board / Staggered Director Elections
• Limited external board experience
• Negative Say-On-Pay Vote: 89% For
• SEC Correspondence in the last year
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: SPNT
Mkt Cap: $2.2B
1-Yr TSR: 29.5%
Board Rating: A-

• Martin Hudson has been appointed as a Class III director of SiriusPoint Ltd., effective September 1, 2025.  (view source)

• Gov Risk: Classified Board / Staggered Director Elections
• High CFO Turnover
• Limited external board experience

Ticker: SNAP
Mkt Cap: $12.0B
1-Yr TSR: -19.3%
Board Rating: C-

• Michael O’Sullivan, General Counsel and Secretary, is exiting Snap Inc. effective December 31, 2025.  (view source)

• Gov Risk: Multi-Class Shares
• High Activist Vulnerability Risk Score (85)
• Internal Control Risk
• Significant Stock Drop(s) in past 2 years
• Stock Alert: 52-week low at $6.99
• Workforce Reduction

Ticker: SNOW
Mkt Cap: $74.0B
1-Yr TSR: 100.3%
Board Rating: C-

• Brian Robins has been appointed as Chief Financial Officer of Snowflake Inc., effective September 22, 2025, succeeding Michael P. Scarpelli, who will remain until that date and then transition to a consulting role.  (view source)

• Cyber Incident(s) within the last year
• Director Elections: < 95% average votes FOR
• Failed Say-On-Pay Vote: 30% For
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• Significant Stock Drop(s) in past 2 years

Ticker: SLSN
Mkt Cap: $248.8M
1-Yr TSR: %

• On September 3, 2025, Kevin Cureton was appointed CEO and President, Jess Jankowski transitioned to Board Advisor, and Laura Riffner was appointed CFO at Solésence, Inc.  (view source)

• 13D filed in the last 6 months
• Gov Risk: Average Director tenure over 10 years
• Gov Risk: Entrenched Board
• Limited external board experience
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years

Ticker: SPB
Mkt Cap: $1.4B
1-Yr TSR: -38.1%
Board Rating: C

• On September 3, 2025, Jeremy W. Smeltser exited as Executive Vice President and Chief Financial Officer, while Faisal Qadir entered as the new Executive Vice President and Chief Financial Officer.  (view source)

• Amended Filing (10-K/A)
• Amended Filings (10-K/A) within the last year
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• SEC Correspondence in the last year

Ticker: CXM
Mkt Cap: $2.0B
1-Yr TSR: -8.8%
Board Rating: C

• On September 3, 2025, Manish Sarin will exit as CFO on September 19, 2025, while Rory Read will transition to interim CFO on the same date, and Scott Millard will enter as Chief Revenue Officer on September 22, 2025.  (view source)

• Bankruptcy Alert: 2 directors have bankruptcy histories (CXM)
• CEO Tenure Was Under 2 Years: Trac Pham
• Gov Risk: Chairman is not independent
• Gov Risk: Multi-Class Shares
• High Activist Vulnerability Risk Score (87)
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: SPT
Mkt Cap: $874.0M
1-Yr TSR: -48.9%
Board Rating: C-

• Mike Wolff is resigning from his role as Chief Revenue Officer effective September 30, 2025, to pursue an opportunity at one of the Company’s strategic partners.  (view source)

• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: SYBT
Mkt Cap: $2.4B
1-Yr TSR: 38.5%
Board Rating: B+

• On September 3, 2025, Michael W. Woods was appointed as Senior Vice President and Principal Accounting Officer, while T. Clay Stinnett transitioned from Principal Accounting Officer to remain as Executive Vice President and Chief Financial Officer.  (view source)

• Gov Risk: Chairman is not independent
• Limited external board experience
• SEC Correspondence in the last year

Ticker: SG
Mkt Cap: $1.0B
1-Yr TSR: -70.7%
Board Rating: D

• On September 4, 2025, Sweetgreen, Inc. announced the retirement of Mitch Reback as CFO and the appointment of Jamie McConnell as the new CFO.  (view source)

• Bankruptcy Alert: 1 director has a bankruptcy history (SG)
• Executive Termination(s) within the last year
• Gov Risk: Chairman is not independent
• Gov Risk: Multi-Class Shares
• Hot Seat Risk Score – CEO: High (83)
• Pledging
• Significant Stock Drop(s) in past 2 years
• Stock Alert: 52-week low at $8.74
• Workforce Reduction

Ticker: TE
Mkt Cap: $288.5M
1-Yr TSR: 60.9%
Board Rating: C-

• Jaime Eduardo Gualy has been appointed as Chief Operating Officer of T1 Energy Holding Inc., effective August 15, 2025, transitioning from his previous role as Executive Vice President of Corporate Development.  (view source)

• 13D filed in the last 6 months
• Abnormally High 8-K Filings
• Amended Filing (10-Q/A)
• Bankruptcy Alert: 1 director has a bankruptcy history (TE)
• Cooperation Agreement in the last 2 years
• Executive Termination(s) within the last year
• High Activist Vulnerability Risk Score (80)
• Internal Control Risk
• Late Filings (NT 10-K / NT 10-Q) within the last year
• Limited external board experience
• Negative Say-On-Pay Vote: 85% For
• Significant Stock Drop(s) in past 2 years

Ticker: TNFA
Mkt Cap: $6.4M
1-Yr TSR: -97.8%
Board Rating: D

• On September 1, 2025, Joshua Silverman was appointed Executive Chairman, Bruce Bernstein was appointed to the Board, and Jude Uzonwanne and Mitchell Glass resigned from their respective positions.  (view source)

• Cyber Incident(s) within the last year
• Going Concern Risk Filings in the last year
• Gov Risk: No lead independent director
• High Activist Vulnerability Risk Score (94)
• Ind. Accountant Resigned
• Late Filings (NT 10-K / NT 10-Q) within the last year
• Listing Rule Violation: Minimum Bid
• Overboarding
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years
• Stock Alert: All-time low at $3.48
• Workforce Reduction

Ticker: UDR
Mkt Cap: $12.9B
1-Yr TSR: -9.2%
Board Rating: C+

• Joseph D. Fisher is resigning as President and Chief Investment Officer, effective September 2, 2025, and Thomas W. Toomey is appointed as President.  (view source)

• Gov Risk: Average Director tenure over 10 years
• Gov Risk: Chairman is not independent
• Gov Risk: Entrenched Board
• Gov Risk: More than one Director over 75
• Pledging

Ticker: UGRO
Mkt Cap: $6.5M
1-Yr TSR: -63.0%
Board Rating: UN

• On August 26, 2025, Lewis O. Wilks resigned from the Board of Directors, and on August 29, 2025, Bradley J. Nattrass voluntarily reduced his salary as CEO and Chairperson of the Board.  (view source)

• Amended Filing (10-Q/A)
• Amended Filings (10-Q/A, 10-K/A) within the last year
• Failed to File Annual/Quarterly Report
• Going Concern Risk Filings in the last year
• Gov Risk: Chairman is not independent
• High Activist Vulnerability Risk Score (81)
• Late Filings (NT 10-K / NT 10-Q) within the last year
• Multiple Dismissed Ind. Accountants within the last 3 years
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: VXRT
Mkt Cap: $73.0M
1-Yr TSR: -51.4%

• Michael J. Finney, Ph.D. is retiring from the board of directors of Vaxart, Inc., including as Chair of the Board, effective September 30, 2025.  (view source)

• Abnormally High 8-K Filings
• CEO Tenure Was Under 2 Years: Steven Lo
• CFO Tenure Was Under 2 Years: Jeroen Grasman
• Director Elections: < 95% average votes FOR
• Failed Say-On-Pay Vote: 32% For
• Going Concern Risk Filings in the last year
• High CFO Turnover
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

Ticker: WTM
Mkt Cap: $4.6B
1-Yr TSR: -1.7%
Board Rating: C+

• Manning Rountree will retire as CEO and Board member on December 31, 2025, transitioning to Senior Advisor; Liam Caffrey will succeed him as CEO and join the Board; Michael Papamichael will become CFO; and Giles Harrison will become President, all effective January 1, 2026.  (view source)

• Cyber Incident(s) within the last year
• Director Elections: < 95% average votes FOR
• Gov Risk: Classified Board / Staggered Director Elections
• High Activist Vulnerability Risk Score (88)
• Settlement Agreement
• Workforce Reduction