Independent
Tenure on this board
6.9 yrs
7 nominees · 3 ballot items.
Elect seven directors; advisory approval of executive compensation (Say-on-Pay); ratify Grant Thornton LLP as independent auditor for 2026.
Elect seven directors to the Board, each to hold office until the 2027 Annual Meeting.
Non-binding, advisory vote to approve the compensation of named executive officers as disclosed in the proxy statement.
The proposal asks shareholders to cast a non-binding advisory vote to approve the compensation of the Company’s named executive officers as disclosed in the proxy statement. Management seeks endorsement to validate its compensation practices given the Company’s external management structure where the CEO is seconded from the Manager and the CFO’s compensation is approved by the Compensation Committee. The Board recommends a vote FOR, noting the Compensation Committee’s oversight, clawback policy analysis, and alignment with the Company’s governance framework. Shareholder approval, though non-binding, is considered in future compensation deliberations. The vote is routine for public companies under Section 14A, but context includes recent governance enhancements and restatement-related oversight following the Lugano matters, which may influence shareholder sentiment.
Ratify Grant Thornton LLP as independent auditor for the fiscal year ending December 31, 2026.
| # | Owner | % of shares | Shares | Value |
|---|---|---|---|---|
| 1 | AMERICAN CENTURY COMPANIES INC | 6.68% | 5,025,800 | $40M |
| 2 | Allspring Global Investments Holdings, LLC | 5.73% | 4,313,841 | $35M |
| 3 | ADW Capital Management, LLC | 4.98% | 3,750,000 | $29M |
| 4 | MANGROVE PARTNERS IM, LLC | 4.90% | 3,684,800 | $29M |
| 5 | Western Standard LLC | 4.17% | 3,137,156 | $25M |
| 6 | D. E. Shaw Co., Inc.Activist | 4.03% | 3,030,532 | $24M |
| 7 | SG Capital Management LLC | 3.71% | 2,789,256 | $22M |
| 8 | BlackRock, Inc. | 2.97% | 2,236,120 | $18M |
| 9 | VANGUARD CAPITAL MANAGEMENT LLC | 2.92% | 2,196,923 | $17M |
| 10 | Divisadero Street Capital Management, LP | 2.57% | 1,930,254 | $15M |
The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon.
This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.
None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by Boardroom Alpha that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.
No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.