CEO & CFO Moves Review – November 8, 2024

Ticker: ADIL
Mkt Cap: $6.9M
1-Yr TSR: -52.9%

• Going Concern Risk Filings in the last year
• High Activist Vulnerability Risk Score (87)
• Internal Control Risk
• Listing Rule Violation: Minimum Stockholder Equity
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years

7.4 yrs
-51.6% TSR

Vinay Shah is an accomplished Chief Financial Officer with over 25 years of experience in the pharmaceutical, biopharmaceutical, and healthcare sectors, specializing in financial strategy, investor relations, and operational efficiency. Most recently, Mr. Shah served as the CFO at Virpax Pharmaceuticals, Inc. (Nasdaq: VRPX), where he focused on implementing fundraising and strategic initiatives, o…read full bio

Ticker: AFRM
Mkt Cap: $15.2B
1-Yr TSR: 120.9%

• Cyber Incident(s) within the last year
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: Multi-Class Shares
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

6.3 yrs
-20.7% TSR

Mr. O’Hare, age 43, has served as the Company’s Senior Vice President, Finance, since August 2020, where he is responsible for financial planning, investor relations, corporate development, merchant pricing, and procurement. Prior to joining the Company, Mr. O’Hare served as Chief Financial Officer of Tile, a consumer services technology company, from February 2020 to August 2020…read full bio

Ticker: AGFY
Mkt Cap: $4.6M
1-Yr TSR: -80.2%

• 13D filed in the last 6 months
• Abnormally High 8-K Filings
• Amended Filings (10-Q/A, 10-K/A) within the last year
• Going Concern Risk Filings in the last year
• Gov Risk: Chairman is not independent
• Gov Risk: No lead independent director
• High Activist Vulnerability Risk Score (88)
• Late Filings (NT 10-K / NT 10-Q) within the last year
• Non-Reliance / Restatement in last year
• SEC Correspondence in the last year
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years

5.4 yrs
-91.1% TSR

Mr. Kovler, age 46, founded Green Thumb in 2014. He has been Chairman of Green Thumb since 2014 and Chief Executive Officer of Green Thumb from 2014 through year-end 2017 and since August 2018. Mr. Kovler is frequently featured as a cannabis industry thought leader in media outlets such as Bloomberg, Barron’s, Business Insider, CNBC and Forbes. He previously served on the boards of directors…read full bio

Ticker: ALXO
Mkt Cap: $79.5M
1-Yr TSR: -83.4%

• Director Elections: < 95% average votes FOR
• High Activist Vulnerability Risk Score (95)
• Internal Control Risk
• Significant Stock Drop(s) in past 2 years
• Stock Alert: All-time low at $1.38

4.8 yrs

Shelly Pinto has served as our Senior Vice President, Finance since July 2023, as Chief Accounting Officer since May 2021 and as Vice President, Finance from May 2021 to July 2023. Prior to joining us, she was with Tizona Therapeutics, Inc. from July 2016 to April 2021, where she served most recently as Vice President of Finance and Operations from October 2020 to April 2021. Ms. Pinto was the Con…read full bio

Ticker: AMN
Mkt Cap: $1.6B
1-Yr TSR: -35.0%

• Gov Risk: Entrenched Board
• High Activist Vulnerability Risk Score (84)
• High CFO Turnover
• Significant Stock Drop(s) in past 2 years
• Stock Alert: 52-week low at $36.90

3.1 yrs
-28.2% TSR

In his role as CFO/COO, Mr. Scott, age 55, will be responsible for AMN’s finance and enterprise operating functions. Mr. Scott is returning to AMN, having previously served as the Company’s Chief Financial Officer and Chief Accounting Officer, from 2011 to 2021. Immediately prior to re-joining AMN, Mr. Scott served as Chief Financial Officer of Jack in the Box, Inc., a franchisor in th…read full bio

Ticker: APPN
Mkt Cap: $3.0B
1-Yr TSR: 8.7%

• 13D filed in the last 6 months
• Bankruptcy Alert: 1 director has a bankruptcy history (APPN)
• Gov Risk: Chairman is not independent
• Gov Risk: Entrenched Board
• Gov Risk: Multi-Class Shares
• Gov Risk: No lead independent director
• High Activist Vulnerability Risk Score (80)
• Limited external board experience
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

2.6 yrs
-18.4% TSR

Mr. Lynch, age 61, has served as a director of the Company since 2022 and served as Chief Financial Officer from 2008 to 2022….read full bio

Ticker: APTV
Mkt Cap: $13.1B
1-Yr TSR: -26.5%

• Amended Filing (10-K/A)
• Amended Filings (10-K/A) within the last year
• Gov Risk: Chairman is not independent
• Gov Risk: No lead independent director
• High Activist Vulnerability Risk Score (96)
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years
• Stock Alert: 52-week low at $53.83

8.7 yrs
3.2% TSR

Mr. Laroyia, age 53, joined Aptiv from LKQ Corporation, a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles, where he most recently served as Senior Advisor, following roles as Chief Executive Officer, LKQ Europe from 2022 to 2023 and Executive Vice President and Chief Financial Officer from 2017 to 2022. Prior to serving at LKQ, Mr. Laroy…read full bio

Ticker: BL
Mkt Cap: $3.7B
1-Yr TSR: 9.8%

• 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
• Workforce Reduction

10.0 yrs

Mr. Villanova, 47, has served as the Company’s Chief Accounting Officer since March 2019. He previously served as the Company’s Controller from November 2015 to March 2019. Prior to joining the Company, Mr. Villanova spent nearly 16 years at PricewaterhouseCoopers. Mr. Villanova holds a B.A. in Accounting and Computer Applications from the University of Notre Dame and is a certified public account…read full bio

Ticker: TCPC
Mkt Cap: $745.5M
1-Yr TSR: -10.1%

• Abnormally High 8-K Filings
• Director Elections: < 95% average votes FOR
• Gov Risk: Chairman is not independent
• High Activist Vulnerability Risk Score (85)
• Immediate Resignation
• Merger Agreement
• Stock Alert: 52-week low at $7.80

3.3 yrs
-4.3% TSR

Philip Tseng 2951 28th Street, Suite 1000, Santa Monica, California 90405 Year of Birth: 1976 President N/A; 2021 to present Mr. Tseng is the President of the Company. From 2022 to present, he has also served as President of BlackRock Private Credit Fund. Mr. Tseng is also a member of BlackRock’s Global Credit Platform. Mr. Tseng is Co-Head of U.S. Private Capital and is the Investment Committee C…read full bio

Ticker: BNAI
Mkt Cap: $35.2M
1-Yr TSR: -90.8%

• 13D filed in the last 6 months
• Abnormally High 8-K Filings
• CFO Tenure Was Under 2 Years: Bill T Williams
• Going Concern Risk Filings in the last year
• Gov Risk: No lead independent director
• High Activist Vulnerability Risk Score (82)
• High CFO Turnover
• Limited external board experience
• SEC Correspondence in the last year
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years
• Stock Alert: All-time low at $0.77

.7 yrs
-91.6% TSR

Mr. Khiari, age 49, has over twenty years of experience in finance, including technology banking, during which time he worked with software companies of various sizes from startups to large, publicly-traded corporations. Prior to joining the Company, Mr. Khiari served as the Managing Director of Technology, Media and Telecommunications at Houlihan Lokey from 2021 to 2023, as the Managing Di…read full bio

Ticker: BLDR
Mkt Cap: $20.6B
1-Yr TSR: 42.1%

• Bankruptcy Alert: 1 director has a bankruptcy history (BLDR)
• CEO Tenure Was Under 2 Years: David E Rush
• Director Elections: < 95% average votes FOR
• Gov Risk: Average Director tenure over 10 years
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: Entrenched Board
• Significant Stock Drop(s) in past 2 years

2.0 yrs *interim*
70.3% TSR

Mr. Jackson was appointed as Executive Vice President and Chief Financial Officer of the Company in January 2021. He had been Senior Vice President and Chief Financial Officer of the Company since November 2016. Prior to joining the Company, Mr. Jackson was employed by Lennox International, Inc. in various roles, including most recently as Vice President and CFO of Lennox’s Refrigeration Segment….read full bio

Ticker: BLDR
Mkt Cap: $20.6B
1-Yr TSR: 42.1%

• Bankruptcy Alert: 1 director has a bankruptcy history (BLDR)
• CEO Tenure Was Under 2 Years: David E Rush
• Director Elections: < 95% average votes FOR
• Gov Risk: Average Director tenure over 10 years
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: Entrenched Board
• Significant Stock Drop(s) in past 2 years

8.0 yrs
42.2% TSR

Mr. Jackson was appointed as Executive Vice President and Chief Financial Officer of the Company in January 2021. He had been Senior Vice President and Chief Financial Officer of the Company since November 2016. Prior to joining the Company, Mr. Jackson was employed by Lennox International, Inc. in various roles, including most recently as Vice President and CFO of Lennox’s Refrigeration Seg…read full bio

Ticker: CTRI
Mkt Cap: $1.9B
1-Yr TSR: %

• CEO Tenure Was Under 2 Years: Paul J Caudill
• CEO Tenure Was Under 2 Years: William Fehrman
• Overboarding
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years

.4 yrs *interim*

Mr. Brown, age 55, served as chief executive officer of EnerMech, a global energy and infrastructure services company, from January 2020 to April 2024. Prior to joining EnerMech, he held the roles of President of Oil & Gas and Corporate Development Officer with SNC Lavalin (now AtkinsRéalis) from 2014 to 2019. From 2011 to 2014, Mr. Brown was the Chief Executive Officer a…read full bio

Ticker: COLL
Mkt Cap: $1.1B
1-Yr TSR: 60.1%

• Bankruptcy Alert: 1 director has a bankruptcy history (COLL)
• CEO Tenure Was Under 2 Years: Michael Thomas Heffernan
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: Entrenched Board
• Gov Risk: More than one Director over 75
• Immediate Resignation
• Merger Agreement
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years

.5 yrs *interim*

Mr. Karnani, age 50, previously served as Executive Vice President and President, Global Commercial Operations and Medical Affairs at Amgen Inc. (“Amgen”), a global biotechnology company. Mr. Karnani joined Amgen in October 2023 through Amgen’s acquisition of Horizon Therapeutics plc (“Horizon”). Mr. Karnani joined Horizon in 2014, holding numerous…read full bio

Ticker: DH
Mkt Cap: $676.2M
1-Yr TSR: -41.6%

• CEO Tenure Was Under 2 Years: Jason Ronald Krantz
• CEO Tenure Was Under 2 Years: Robert W Musslewhite
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: No lead independent director
• High Activist Vulnerability Risk Score (100)
• Internal Control Risk
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

4.3 yrs

Ticker: XRAY
Mkt Cap: $3.5B
1-Yr TSR: -37.9%

• Bankruptcy Alert: 1 director has a bankruptcy history (XRAY)
• Class Action
• High Activist Vulnerability Risk Score (96)
• SEC Investigation Related
• Significant Stock Drop(s) in past 2 years
• Stock Alert: 52-week low at $17.26
• Workforce Reduction

2.2 yrs
-15.0% TSR

Ticker: DLTR
Mkt Cap: $13.7B
1-Yr TSR: -45.4%

• Bankruptcy Alert: 1 director has a bankruptcy history (DLTR)
• CEO Tenure Was Under 2 Years: Richard W Dreiling
• Gov Risk: Chairman is not independent
• High Activist Vulnerability Risk Score (100)
• Significant Stock Drop(s) in past 2 years
• Stock Alert: 52-week low at $62.41

1.8 yrs
-33.1% TSR

Mr. Creedon, age 48, has served as Chief Operating Officer of the Company since October 2022. Prior to joining the Company, Mr. Creedon held several executive leadership roles with Advance Auto Parts, Inc., including Executive Vice President of U.S. Stores (March 2021 to October 2022), President, U.S. Stores (March 2020 to March 2021), and President, North Division (February 2017 to March 202…read full bio

Ticker: ENS
Mkt Cap: $3.8B
1-Yr TSR: 10.4%

• Bankruptcy Alert: 1 director has a bankruptcy history (ENS)
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: No lead independent director
• Negative Say-On-Pay Vote: 50% For
• Workforce Reduction

8.1 yrs

As a seasoned executive, Mr. O’Connell has led global teams and spearheaded transformational initiatives across EnerSys, consistently demonstrating the ability to drive change and deliver growth and profitability. Navigating unprecedented events, such as the COVID-19 pandemic, macroeconomic volatility, and shifting secular growth trends, Mr. O’Connell has been a steady, resilient, and…read full bio

Ticker: EHAB
Mkt Cap: $398.2M
1-Yr TSR: -7.4%

• Amended Filings (10-K/A) within the last year
• Contested Proxy (EHAB)
• Director Elections: < 95% average votes FOR
• High Activist Vulnerability Risk Score (80)
• Proxy Fight in the last 2 years
• SEC Correspondence in the last year
• Section 220 Disclosure
• Significant Stock Drop(s) in past 2 years
• Stock Alert: All-time low at $6.89

2.4 yrs
-33.7% TSR

Mr. Solomon brings to Enhabit over 20 years of corporate strategy and finance experience, including eight years as CFO in the home health and hospice space and other industries. Mr. Solomon previously served as CFO of AccentCare, where he was responsible for financial planning, accounting, tax, treasury, revenue cycle, corporate development and internal audit—functions he will oversee at Enh…read full bio

Ticker: EXPE
Mkt Cap: $22.7B
1-Yr TSR: 47.5%

• Director Elections: < 95% average votes FOR
• Gov Risk: Chairman is not independent
• Gov Risk: Entrenched Board
• Gov Risk: Multi-Class Shares
• Gov Risk: No lead independent director
• High Activist Vulnerability Risk Score (84)
• High CFO Turnover
• Overboarding
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

2.4 yrs
19.0% TSR

Ticker: FTHM
Mkt Cap: $50.0M
1-Yr TSR: -32.4%

• 13D filed in the last 6 months
• Amended Filing (10-K/A)
• Amended Filings (10-K/A) within the last year
• Gov Risk: Chairman is not independent
• Gov Risk: No lead independent director
• High Activist Vulnerability Risk Score (84)
• Limited external board experience
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years

12.8 yrs

Joanne Zach, age 59, has been serving as our Senior Vice President of Finance since February 2021. Prior to this, from November 2020 to January 2021, Ms. Zach served as an independent financial consultant to Catalyst CR. From April 2019 to October 2020, Ms. Zach served as an independent contractor and then as the Senior Vice President of Finance at the North Carolina Museum of Art Foundation. From…read full bio

Ticker: FA
Mkt Cap: $2.7B
1-Yr TSR: 40.5%

• Director Elections: < 95% average votes FOR
• Gov Risk: Classified Board / Staggered Director Elections
• Merger Agreement
• SEC Correspondence in the last year

3.4 yrs
.9% TSR

Mr. Marks joined the Company in 2016 and has served as Chief Accounting Officer since February 2022. Mr. Marks previously served as Senior Vice President, Accounting and Controller, and various other accounting leadership functions. Before joining the Company, Mr. Marks held accounting and financial reporting roles at Serta Simmons Bedding, LLC. Mr. Marks began his career in public accounting at P…read full bio

Ticker: FREY
Mkt Cap: $330.2M
1-Yr TSR: -32.7%

• 13D filed in the last 6 months
• CEO Tenure Was Under 2 Years: Birger Steen
• CEO Tenure Was Under 2 Years: Tom Einar Jensen
• Cooperation Agreement
• Executive Termination(s) within the last year
• High Activist Vulnerability Risk Score (93)
• Limited external board experience
• Negative Say-On-Pay Vote: 73% For
• Workforce Reduction

.4 yrs
-46.4% TSR

Mr. Barcelo, 54, has served as a director of FREYR since the consummation of the business combination in 2021. He is also the founder and CEO of Alussa Energy LLC. Prior to founding Alussa Energy in 2019, he was a Director of Research and Portfolio Manager at Moore Capital Management from 2008 to 2011 and an Equity Research Analyst with Lehman Brothers from 1998 to 2004, Bank of America from 2004…read full bio

Ticker: THRM
Mkt Cap: $1.4B
1-Yr TSR: -3.3%

• CFO Tenure Was Under 2 Years: Phillip Eyler
• Negative Say-On-Pay Vote: 85% For

7.0 yrs
2.9% TSR

Mr. Presley, age 55, has over 30 years of domestic and international experience in leadership positions within the automotive industry, is an engineer by training and is a holder of multiple patents in the automotive industry. Mr. Presley has deep automotive general management, engineering and manufacturing expertise. From January 2019 to November 2024, he served at Aptiv PLC (NYSE: APTV…read full bio

Ticker: THRM
Mkt Cap: $1.4B
1-Yr TSR: -3.3%

• CFO Tenure Was Under 2 Years: Phillip Eyler
• Negative Say-On-Pay Vote: 85% For

.3 yrs *interim*

Ticker: GAIN
Mkt Cap: $506.3M
1-Yr TSR: 14.7%

• 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
• Gov Risk: More than one Director over 75
• High CFO Turnover
• Overboarding
• Pledging
• SEC Correspondence in the last year

2.9 yrs
7.2% TSR

Mr. Ritchie, age 35, served as the Company’s Accounting Manager from November 2018 until July 2020, the Company’s Controller from July 2020 until July 2022 and as the Company’s Controller and Director of Financial Reporting since July 2022. Prior to joining the Company, Mr. Ritchie worked for Ernst & Young from 2011 until 2018 as a Manager in the Financial Serv…read full bio

Ticker: HL
Mkt Cap: $3.8B
1-Yr TSR: 48.1%

• CEO Tenure Was Under 2 Years: Catherine J Boggs
• Director Elections: < 95% average votes FOR
• Gov Risk: Classified Board / Staggered Director Elections
• Immediate Resignation
• Limited external board experience
• Negative Say-On-Pay Vote: 69% For
• Settlement Agreement

.5 yrs *interim*
28.3% TSR

Mr. Krcmarov is a geologist and experienced international mining executive who has held mine site, regional and corporate leadership roles in his 35-year career in the natural resources industry. Mr. Krcmarov most recently served as a technical advisor to Barrick Gold Corporation (“Barrick”), and previously served as part of the executive leadership team with that company for 13 years,…read full bio

Ticker: ISPO
Mkt Cap: $66.3M
1-Yr TSR: -19.6%

• 13D filed in the last 6 months
• Abnormally High 8-K Filings
• CFO Tenure Was Under 2 Years: Robert Kaiden
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: No lead independent director
• High Activist Vulnerability Risk Score (84)
• High CFO Turnover
• Limited external board experience
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

1.7 yrs
-65.1% TSR

Mr. Arthur, age 37, joined the Company in February 2023 as Vice President of FP&A and Treasury and has served as Senior Vice President of Finance since December 2023, overseeing Corporate Finance, FP&A and Treasury. Prior to joining the Company, Mr. Arthur served as Vice President of Finance & Strategy at CSC Generation from June 2022 to January 2023. From July 2015 to May 2022, Mr. Ar…read full bio

Ticker: IRBT
Mkt Cap: $211.3M
1-Yr TSR: -78.1%

• CEO Tenure Was Under 2 Years: Glen Daniel Weinstein
• Class Action
• Executive Termination(s) within the last year
• Gov Risk: Classified Board / Staggered Director Elections
• High Activist Vulnerability Risk Score (82)
• Immediate Resignation
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

4.6 yrs
-32.0% TSR

Ms. Wong, age 48, has been the Company’s principal accounting officer since May 2020, and the Company’s VP, Finance since July 2017. Prior to joining iRobot, Ms. Wong served in a number of positions at Nuance Communications, including VP and Controller, Accounting and Reporting from January 2016 through July 2017, and VP, Corporate and North America Accounting from March 2014 to Decemb…read full bio

Ticker: KPTI
Mkt Cap: $110.5M
1-Yr TSR: 10.4%

• Director Elections: < 95% average votes FOR
• Going Concern Risk Filings in the last year
• Gov Risk: Classified Board / Staggered Director Elections
• Internal Control Risk
• Listing Rule Violation: Minimum Bid
• Negative Say-On-Pay Vote: 82% For
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

5.8 yrs
-33.6% TSR

Ticker: TUSK
Mkt Cap: $182.4M
1-Yr TSR: -9.1%

• Gov Risk: Chairman is not independent
• Gov Risk: No lead independent director
• SEC Correspondence in the last year
• SEC Investigation Related
• Settlement Agreement
• Significant Stock Drop(s) in past 2 years

8.5 yrs
-13.4% TSR

Mr. Lancaster, age 67, has over 20 years of experience in the energy industry. Mr. Lancaster currently serves as the Vice President of Corporate Development of Mammoth. Mr. Lancaster also served as interim President of Cobra Acquisitions LLC, Higher Power Electrical LLC and 5 Star Electric LLC, Mammoth’s infrastructure subsidiaries, from June 2019 to November 2019. Prior to these positions,…read full bio

Ticker: NGS
Mkt Cap: $283.7M
1-Yr TSR: 64.9%

• CEO Tenure Was Under 2 Years: Stephen Charles Taylor
• CFO Tenure Was Under 2 Years: John Bittner
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: No lead independent director
• High CFO Turnover
• Negative Say-On-Pay Vote: 57% For

.3 yrs *interim*

Since June 2023, Mr. Eckert has been employed at Alamo Group Inc., a public company traded on the NYSE which manufactures equipment used in the industrial, vegetation, and agricultural markets; he currently serves as Chief Accounting Officer, Vice President, and Corporate Controller. Prior to joining Alamo Group, from 2020 to 2023, Mr. Eckert served as Vice President, Finance for AMETEK Inc.’s Ele…read full bio

Ticker: NWSA
Mkt Cap: $16.6B
1-Yr TSR: 37.1%

• Abnormally High 8-K Filings
• Contested Proxy (NWSA)
• Gov Risk: Average Director tenure over 10 years
• Gov Risk: Chairman is not independent
• Gov Risk: Multi-Class Shares
• Gov Risk: No new Directors in last 5 years
• Proxy Fight in the last 2 years
• Settlement Agreement
• Stock Alert: All-time high at $29.16
• Workforce Reduction

7.8 yrs
11.4% TSR

Ms. Chandrashekar, 52, has nearly 30 years of experience in international finance and investor relations, and has most recently served as Chief Financial Officer of Diageo plc, a global beverage alcohol company, from 2021 to September 2024, after serving as Global Head of Investor Relations from 2020 to 2021 and Chief Financial Officer, Diageo North America from 2018 to 2021. She has also held sen…read full bio

Ticker: OSS
Mkt Cap: $50.3M
1-Yr TSR: 10.2%

• Director Elections: < 95% average votes FOR
• Significant Stock Drop(s) in past 2 years

7.2 yrs
-9.7% TSR

Mr. Gabel, 36 years of age, brings over 14 years of accounting, financial, and strategic leadership experience within the defense industry to OSS. Most recently, from February 2023 to November 2024, Mr. Gabel served as Senior Director of Finance and Chief Financial Officer, Defense System Division of Cobham Advanced Electronic Solutions, a division of Honeywell that provides advanced electronic so…read full bio

Ticker: OPEN
Mkt Cap: $1.3B
1-Yr TSR: -9.7%

• CFO Tenure Was Under 2 Years: Christina Schwartz
• Director Elections: < 95% average votes FOR
• Gov Risk: Classified Board / Staggered Director Elections
• High Activist Vulnerability Risk Score (100)
• High CFO Turnover
• SEC Correspondence in the last year
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

1.9 yrs
-2.9% TSR

Mr. Freiha, age 53, has served as the Vice President, Finance, Capital Allocation and Planning at Alphabet Inc. (previously Google Inc.), a global technology company, since February 2023 and served as Vice President of Finance, Commerce, Payments and NBU at Alphabet Inc. from July 2021 to February 2023. Previously, he served as a Vice President in various capacities at eBay Inc., an e-co…read full bio

Ticker: PDM
Mkt Cap: $1.3B
1-Yr TSR: 84.0%

• Limited external board experience

17.6 yrs
2.4% TSR

Ms. Rexroad served as the Chief Financial Officer of STORE Capital LLC from 2021 to 2022. Prior to her role at STORE Capital LLC, Mr. Rexroad spent ten years at BlackRock Global Real Asset Securities where, from 2017 to 2021, she served as Global Head of Business Development. She also previously served as Co-Global Chief Investment Officer and Chair of the Investment Committee,…read full bio

Ticker: QTWO
Mkt Cap: $6.2B
1-Yr TSR: 196.9%

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

4.0 yrs
-3.0% TSR

Mr. Price has served as Q2’s Executive Vice President, Strategy & Emerging Businesses since June 2023. Mr. Price served as Q2’s Executive Vice President, Emerging Businesses, Corporate and Business Development from September 2020 until June 2023. Mr. Price served as Q2’s Senior Vice President, Emerging Businesses, Corporate and Business Development from October 2019 until Sep…read full bio

Ticker: SIG
Mkt Cap: $4.3B
1-Yr TSR: 36.7%

• 13D filed in the last 6 months
• Bankruptcy Alert: 1 director has a bankruptcy history (SIG)
• Gov Risk: Chairman is not independent
• Gov Risk: No lead independent director
• Workforce Reduction

7.3 yrs
8.8% TSR

Mr. Symancyk, age 52, brings over 30 years of retail industry experience. Since June 2018, Mr. Symancyk has served as President and Chief Executive Officer and as a director of PetSmart, Inc., a leading specialty pet retailer. Prior to PetSmart, Mr. Symancyk served as President and Chief Executive Officer of Academy Sports + Outdoors, a sporting goods retailer, and held many leadership roles at Me…read full bio

Ticker: SOND
Mkt Cap: $31.4M
1-Yr TSR: -71.8%

• CFO Tenure Was Under 2 Years: Dominique Bourgault
• Cyber Incident(s) within the last year
• Going Concern Risk Filings in the last year
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• High CFO Turnover
• Internal Control Risk
• Late Filings (NT 10-K / NT 10-Q) within the last year
• Non-Reliance / Restatement in last year
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

1.8 yrs
-70.3% TSR

Ticker: CXM
Mkt Cap: $2.0B
1-Yr TSR: -47.2%

• CEO Tenure Was Under 2 Years: Trac Pham
• Class Action
• Gov Risk: Chairman is not independent
• Gov Risk: Multi-Class Shares
• High Activist Vulnerability Risk Score (91)
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

3.4 yrs
-26.5% TSR

Rory Read, age 62, most recently served as the Chief Executive Officer of Vonage Holdings Corp. from July 2020 to March 2024. He also served as Senior Vice President at Ericsson from July 2022 to March 2024, having joined the company as part of Ericsson’s acquisition of Vonage. Prior to that, Mr. Read served in various roles at Dell Technologies, Inc. from April 2015 to June 2020, inclu…read full bio

Ticker: CXM
Mkt Cap: $2.0B
1-Yr TSR: -47.2%

• CEO Tenure Was Under 2 Years: Trac Pham
• Class Action
• Gov Risk: Chairman is not independent
• Gov Risk: Multi-Class Shares
• High Activist Vulnerability Risk Score (91)
• Significant Stock Drop(s) in past 2 years
• Workforce Reduction

.4 yrs
-39.9% TSR

Rory Read, age 62, most recently served as the Chief Executive Officer of Vonage Holdings Corp. from July 2020 to March 2024. He also served as Senior Vice President at Ericsson from July 2022 to March 2024, having joined the company as part of Ericsson’s acquisition of Vonage. Prior to that, Mr. Read served in various roles at Dell Technologies, Inc. from April 2015 to June 2020, inclu…read full bio

Ticker: VRCA
Mkt Cap: $32.1M
1-Yr TSR: -81.0%

• Class Action
• Director Elections: < 95% average votes FOR
• Going Concern Risk Filings in the last year
• Gov Risk: Chairman is not independent
• Gov Risk: Classified Board / Staggered Director Elections
• Gov Risk: No lead independent director
• Immediate Resignation
• Overboarding
• Significant Stock Drop(s) in past 2 years
• Stock Alert: All-time low at $0.70
• Workforce Reduction

6.9 yrs
-33.8% TSR

Dr. Rieger, age 49, has served as Executive Vice President of PBM Capital Group, LLC (“PBM Capital”) since March 2014. He began providing services to PBM Capital as a consultant as of the Effective Date. Dr. Rieger also served as a member of the Board from 2015 to 2018. Prior to joining PBM Capital, Dr. Rieger served as Corporate Senior Vice President and President of the Hum…read full bio