Weekly Activism & Executive Moves Review (May 10)

by David Pogemiller | May 13, 2024

Activism Snapshot

The Norfolk Southern (NSC) vs Ancora battle is now over. It’s almost certainly a win for shareholders as both NSC and Ancora get min-wins as 10 NSC directors were elected and 3 Ancora directors. As is the case in many situations, from the outside it seems apparent that having additional passionate shareholders tightly aligned to and within the boardroom should be a long-term win for shareholder value. It will certainly make the boardroom a place of conflict in the near term, but shareholders will be hoping that collectively the new 13 member board will be able to deliver.

Latest Activism and Governance research from Boardroom Alpha:

CEO / CFO Moves Snapshot

It’s yet another week of Co-CEO consolidation as Boston Omaha Corp (BOC) and Brainstorm Cell Therapeutics (BCLI) both see their Co-CEO team go down to single CEOs. Both BOC and BCLI are struggling with stock prices near all-time lows. Whenever companies are paying 2x in CEO pay and shareholders aren’t being rewarded, the board should be very active in assessing both the structure (ie co-CEOs) and performance.
A number of struggling companies — among them are Emcore (EMKR), iRobot (IRBT), Methode Electronics (MEI), P3 Health Partners (PIII), and Quidelortho Corpo (QDEL) — are hoping CEO swaps will help turn things around.
Check below for all the week’s other notable CEO and CFO changes.

ACTIVISM UPDATE

LATEST COOPERATION AGREEMENTS

TARGET	1-Year TSR	ACTIVIST	SUMMARY	FILING	DATE	STOCK CHANGE	DAYS SINCE
ALIGHT INC (ALIT)	-14.9%	Starboard	Increased board from 9 to 11 Appointed Dave Guilmette and Coretha Rushing Annual meeting to be held no later than July 26, 2024	View Filing	2024-05-06	-17.4%	4
APPLIED DIGITAL CORP (APLD)	-1.5%	Oasis Management	Appointed Ella Benson, an employee of Oasis, to the Company’s Board of Directors	View Filing	2024-05-01	23.5%	9
TRIUMPH GROUP INC (TGI)	42.9%	Vision One Management Partners	Including Courtney R. Mather for election as a director at the 2024 shareholder meeting Appointed Julio C. Acero, an Investment Analyst of Vision One, as a board advisor	View Filing	2024-05-01	7.0%	9
ZUORA INC (ZUO)	35.6%	Scalar Gauge Fund	Appointed John D. Harkey, Jr. to the board	View Filing	2024-05-01	6.6%	9
LL FLOORING HOLDINGS INC (LL)	-48.0%	Live Ventures Incorporated & Isaac Capital Group	Activist withdrew nomination of 3 individuals to the board Agreed to add 1 new independent director that is agreeable to both parties and not associated to activist.	View Filing	2024-04-29	2.6%	11

LATEST 13-D FILINGS

FILED	TICKER	COMPANY	FILED BY	OWNERSHIP	1-Year TSR	SUMMARY	FILING
2024-05-09	ABUS	ARBUTUS BIOPHARMA CORP	Whitefort Capital Management, LP	6.80	12.6%	Believes the company should terminate their ATM program and explore all strategic options for the Issuer’s hepatitis B virus (HBV) portfolio.	2024-05-09 – SC 13D
2024-05-08	STKS	ONE GROUP HOSPITALITY INC	Hill Path Capital LP	8.20	-19.1%	Investment agreement enables board representation and other rights.	2024-05-08 – SC 13D
2024-05-08	VSTS	VESTIS CORP	Corvex Management LP	12.60	-39.8%	Corvex, led by Keith Meister, increased their position making them Vestis’s largest shareholder	2024-05-08 – SC 13D
2024-05-07	APLD	APPLIED DIGITAL CORP	Oasis Management Co Ltd.	5.78	-1.5%	Oasis entered into a cooperation agreement with Applied Digital. (see details above and cooperation agreement here).	2024-05-07 – SC 13D

LATEST PROXY CONTEST FILINGS

TICKER	COMPANY	MEETING DATE	LATEST PROXY	SUMMARY	TARGET FILINGS	ACTIVIST FILINGS
AHT	ASHFORD HOSPITALITY TRUST INC	May 14	2024-05-02 – DEFC14A	Blackwell’s asking shareholders to vote against Monty J. Bennett, Amish Gupta, J. Robison Hays, III, Kamal Jafarnia, David W. Johnson, Frederick J. Kleisner, Sheri L. Pantermuehl, Davinder “Sonny” Sra and Alan L. Tallis Blackwell’s believes that Chair Monty Bennett is “largely responsible for the overall lack of accountability at Ashford Trust given the Company’s persistent underperformance” Blackwell’s is not proposing an alternative slate of directors\|Because it is “uncontested” by definition, incumbent directors that do not receive the affirmative vote of a majority of shareholders must resign according to AHT policy	ASHFORD HOSPITALITY TRUST INC Mar 29 – DEFA14A	BLACKWELLS CAPITAL LLC May 10 – DFAN14A May 09 – DFAN14A May 08 – DFAN14A May 07 – DFAN14A May 06 – DFAN14A May 03 – DFAN14A May 02 – DFAN14A May 02 – DEFC14A Apr 09 – PREC14A
BHR	BRAEMAR HOTELS & RESORTS INC	Jul 30	2024-04-11 – PREC14A	Nominating four directors: Michael Cricenti, Jennifer M. Hill, Betsy L. McCoy and Steven J. Pully Proposal to remove “overreaching” advance notice bylaw provision Proposal to urge the Board to amend the Bylaws to preclude any current or former employee, director, officer, or control person of the Corporation or Ashford (as defined in the Proxy Statement) and Ashford’s affiliates from serving as the Corporation’s chairman of the Board Proposal to require the Board to disclose all extraordinary transaction proposals made by stockholders, affiliates and third parties during the two most recently completed calendar years and the terms of those proposed transactions Proposal to require the Board to disclose all compensation paid by the Corporation to members of the Bennett family, The Dallas Express and employees, directors or agents of The Dallas Express, including Louis Darrouzet	BRAEMAR HOTELS & RESORTS INC May 06 – DEFA14A Apr 23 – DEFA14A Apr 11 – PREC14A Apr 11 – DEFA14A Apr 11 – DEFA14A Apr 02 – PREC14A Mar 28 – DEFA14A	BLACKWELLS CAPITAL LLC May 10 – DFAN14A May 09 – DFAN14A May 08 – DFAN14A May 07 – DFAN14A May 03 – DFAN14A May 03 – DFAN14A May 02 – DFAN14A Apr 15 – DFAN14A Apr 12 – DFAN14A Apr 10 – DFAN14A
CCI	CROWN CASTLE INC	May 22	2024-04-11 – DEFC14A	Crown Castle Inc. is facing a proxy battle initiated by its co-founder, Ted B. Miller, and his investment vehicle. Ted B. Miller criticized the Board’s actions, asserting that they wasted shareholder resources during a period of significant value destruction. Boots Capital called for immediate change, advocating for new independent directors and a fresh start. Miller points to Crown Castle’s board rewriting its cooperation agreement with Elliott Management as an admission that the initial process was tainted. The rewritten agreement still did not require Elliott to maintain an equity position in the company. Miller has filed a lawsuit to invalidate Crown Castle’s cooperation agreement with Elliott.	CROWN CASTLE INC May 13 – DEFA14A May 13 – DEFA14A May 07 – DEFA14A May 03 – DEFA14A May 03 – DEFA14A Apr 25 – DEFA14A Apr 24 – DEFA14A Apr 22 – DEFA14A Apr 19 – DEFA14A Apr 19 – DEFA14A	BOOTS PARALLEL 1, LP May 09 – DFAN14A May 07 – DFAN14A May 07 – DFAN14A May 06 – DFAN14A May 06 – DFAN14A May 01 – DFAN14A Apr 23 – DFAN14A Apr 22 – DFAN14A Apr 22 – DFAN14A Apr 22 – DFAN14A
EAF	GRAFTECH INTERNATIONAL LTD	May 09	2024-04-02 – DEFC14A	Undavia Group seeking to get Nilesh Undavia elected to the board Undavia Group contends the board / company have made “egregious” mistakes including: Failing to identify and appoint stable executive leadership as the Company has endured three different CEOs since 2019; Failing to create and execute a comprehensive strategy to repair customer relationships damaged by the imposition and enforcement of long-term purchase agreements on the customer base amid the peak pricing environment of 2017-2018; Mismanaging environmental risk along with the associated regulatory compliance and government relations resulting in a temporary suspension of one of the Company’s primary operating facilities in Mexico, which significantly impacted production and sales in 2023; Failing to develop a CEO succession plan, which resulted in the search for a CEO for six months, only to appoint the former CFO as the CEO in March 2024; and Rewarding directors by increasing their pay despite poor financial and share price performance.	GRAFTECH INTERNATIONAL LTD May 06 – DEFA14A Apr 29 – DEFA14A Apr 26 – DEFA14A Apr 18 – DEFA14A Apr 17 – DEFA14A Apr 02 – DEFC14A Apr 02 – DEFA14A Mar 15 – PREC14A	UNDAVIA NILESH May 06 – DFAN14A May 01 – DFAN14A Apr 30 – DFAN14A Apr 23 – DFAN14A Apr 22 – DFAN14A Apr 15 – DFAN14A Apr 03 – DFAN14A Mar 26 – PRRN14A
EHAB	ENHABIT INC	TBD		AREX Capital owns 4.8% of the shares of Enhabit (EHAB) AREX Capital believes EHAB strategic review should have resulted in a sale of the company. AREX Capital believes EHAB board lacks “Health and Hospice” expertise AREX nominating 7 directors to the board: Megan Ambers, James T. Corcoran, Maxine Hochhauser, Mark W. Ohlendorf, Anna-Gene O’Neal, Dr. Gregory S. Sheff, Juan Vallarino.	ENHABIT INC	AREX CAPITAL MANAGEMENT, LP May 09 – DFAN14A
GNK	GENCO SHIPPING & TRADING LTD	May 23	2024-04-17 – DEFC14A	GK Investor / George Economou has provided notice that it is nominating 2 directors: Randee Day and Robert M. Pons George Economou: “As a significant Genco shareholder, I strongly believe in the Company’s potential to deliver improved value for shareholders. Both Randee and Robert have highly relevant backgrounds that would, in my view, be additive in the boardroom and would help address Genco’s lagging performance. I believe the entire Board would benefit from their fresh perspectives and collective knowledge of the maritime and technology sectors and experience in finance, corporate strategy and governance.”	GENCO SHIPPING & TRADING LTD May 09 – DEFA14A May 08 – DEFA14A May 03 – DEFA14A May 02 – DEFA14A Apr 30 – DEFA14A Apr 29 – DEFA14A Apr 24 – DEFA14A Apr 22 – DEFA14A Apr 18 – DEFA14A Apr 17 – DEFA14A	GK INVESTOR LLC Apr 18 – DFAN14A Apr 17 – DEFC14A Apr 15 – PRRN14A Apr 08 – PREC14A
MASI	MASIMO CORP	TBD		Politan Capital, owning ~9% of MASI, has nominated two directors to the board of Masimo Politan Capital previously won two board seats at last year’s shareholder meeting Politan has nominated William Jellison, former CFO of Stryker and Darlene Solomon, former CTO of Agilent Technologies Politan paints a picture (see their filings) of MASI being uncooperative and freezing their board members out Masimo (see their filings) refutes Politan’s claims	MASIMO CORP May 13 – DEFA14A May 09 – DEFA14A Apr 02 – DEFA14A Apr 01 – DEFA14A	POLITAN CAPITAL MANAGEMENT LP May 10 – DFAN14A Mar 25 – DFAN14A
MFIN	MEDALLION FINANCIAL CORP	Jun 11	2024-04-29 – DEFC14A	ZimCal looking to add Stephen Hodges and Judd Deppisch to the board ZimCal flags long-term underperformance with Medallion down 40% over the last 10 years and heightened near-term risk from subprime exposure ZimCal has published a site supporting its case at: https://restoretheshine.com/	MEDALLION FINANCIAL CORP May 10 – DFAN14A Apr 29 – DEFC14A Apr 18 – PREC14A	ZIMCAL ASSET MANAGEMENT, LLC May 02 – DFAN14A Apr 26 – DFAN14A Apr 26 – DEFC14A Apr 24 – DFAN14A Apr 12 – DFAN14A Apr 11 – DFAN14A Apr 10 – PREC14A
MRC	MRC GLOBAL INC	TBD	2024-03-19 – PREC14A	Nominating two directors to the board: Brad Favreau and Daniel Silvers Engine Capital believes that MRC is significantly underperforming, especially relative to DNOW Inc. Engine Capital believes that MRC’s inability to settle it’s ongoing dispute with Cornell Capital is preventing MRC from optimizing capital structure Engine Capital believes that MRC’s M&A strategy is flawed and that CEO Rob Saltiel does not have a successful track record in acquisitions or integrations	MRC GLOBAL INC Apr 02 – DEFA14A Mar 19 – DEFA14A	ENGINE CAPITAL, L.P. Mar 19 – PREC14A Mar 19 – DFAN14A
NVAX	NOVAVAX INC	TBD	2024-05-06 – PREC14A	Shah Capital Management intends to vote against Novavax directors Richard H. Douglas, Margaret G. McGlynn, and David Mott Shah Capital Management believes that Novavax is undervalued and continues to suffer from poor profitability, despite the substantial value to be unlocked in the Company’s Matrix-M adjuvant platform and non-mRNA protein vaccine portfolio. Shah Capital Management met with management and the board multiple times over the course of 2023 and 2024, but believes Novavax has been unresponsive to their suggestions.	NOVAVAX INC Apr 29 – DEFA14A	SHAH CAPITAL MANAGEMENT May 08 – DFAN14A May 07 – DFAN14A May 06 – PREC14A May 06 – DFAN14A
SBOW	SILVERBOW RESOURCES INC	May 21	2024-04-10 – DEFC14A	SilverBow Resources has rejected multiple offers, over the past two years, by Kimmeridge Energy Management — the latest offer valued SBW at $2.1 billion SilverBow believes the offer substantially undervalues the company Kimmeridge holds a 12.9% stake in SilverBow, along with Riposte Capital, the second-largest shareholder Kimmeridge is also attempting to get 3 directors onto the board SilverBow has rejected the three nominees citing concerns over their independence and representation of all shareholders’ interests	SILVERBOW RESOURCES INC May 09 – DEFA14A May 06 – DEFA14A May 03 – DEFA14A May 02 – DEFA14A May 01 – DEFA14A May 01 – DEFA14A Apr 29 – DEFA14A Apr 22 – DEFA14A Apr 10 – DEFA14A Apr 09 – DEFC14A	KIMMERIDGE ENERGY MANAGEMENT COMPANY, LLC May 09 – DFAN14A May 07 – DFAN14A May 02 – DFAN14A Apr 29 – DFAN14A Apr 29 – DFAN14A Apr 29 – DFAN14A Apr 16 – DFAN14A Apr 11 – DFAN14A Apr 11 – DFAN14A Apr 10 – DEFC14A
SPRU	SPRUCE POWER HOLDING CORP	TBD	2024-04-17 – PREC14A	Clayton Partners, JSCC Family Trust, and Jason Stankowski are contesting the proxy Clayton is nominating Jason Stankowski and Clara Nagy McBane to the board Clayton believes the company is not being managed to the benefit of its shareholders — believes “Spruce is, at worst, a break-even business and has significant opportunities for positive cash flow generation going forward” Clayton disagrees with the company not buying back any stock despite trading at a 25% discount to the estimated value of the stock	SPRUCE POWER HOLDING CORP	CLAYTON PARTNERS LLC Apr 18 – DFAN14A Apr 17 – PREC14A
WSR	WHITESTONE REIT	May 14	2024-04-05 – DEFC14A	Erez nominating two directors: Bruce Schanzer and Catherine Clark Letter to Whitestone REIT and WSR response to Erez	WHITESTONE REIT May 10 – DEFA14A May 07 – DEFA14A May 06 – DEFA14A May 02 – DEFA14A Apr 29 – DEFA14A Apr 24 – DEFA14A Apr 24 – DEFA14A Apr 05 – DEFA14A Apr 04 – DEFC14A	EREZ REIT OPPORTUNITIES LP May 09 – DFAN14A May 08 – DFAN14A May 06 – DFAN14A Apr 30 – DFAN14A Apr 30 – DFAN14A Apr 26 – DFAN14A Apr 23 – DFAN14A Apr 22 – DFAN14A Apr 22 – DFAN14A Apr 09 – DFAN14A
WT	WISDOMTREE INC	Jun 12	2024-05-03 – DEFC14A	ETFS Capital owns approximately 10% of Wisdom Tree (WT) and believes “immediate action to unlock significant value for all stockholders and halt further value destruction.” Puts a focus on WT’s strategy of transitioning to a decentralized finance (DeFi) business and believes that it resulted in poor management of the core, profitable ETF business. Believes the company’s true value lies in its ETF business, which suffers from poor profitability despite record assets under management. Believes its attempts to be collaborative have been met with ” a public and bafflingly hostile response.” Seeking	WISDOMTREE INC May 06 – DEFA14A Apr 30 – DEFA14A Apr 29 – DEFC14A Apr 29 – DEFA14A Apr 29 – DEFA14A Apr 19 – PREC14A	ETFS CAPITAL LIMITED May 06 – DFAN14A May 03 – DFAN14A May 03 – DEFC14A Apr 30 – PRRN14A Apr 18 – DFAN14A Apr 17 – PREC14A
XPER	XPERI INC	May 24	2024-04-17 – DEFC14A	Rubric Capital opposes 2 of the 5 directors up for re-election: Deborah S. Conrad and Thomas A. Lacey Rubric filed their first 13 D on January 23, 2024 Rubric sent XPER board a letter on January 22, 2024 nominating their directors Xperi began trading as a separate company on Oct 1, 2022 after spinning out of Xperi Holding (no named Adeia Inc) Xperi is down nearly 30% since the spin-off Xperi has an elevated Boadroom Alpha Activist Vulnerability Score and C- average board rating CEO Kirchner was paid $9.9M in 2022 despite the significant shareholder losses Xperi powers the next generation of smart devices, automobiles and entertainment experiences of all kinds	XPERI INC May 07 – DEFA14A May 02 – DEFA14A Apr 30 – DEFA14A Apr 17 – DEFC14A Apr 17 – DEFA14A Mar 25 – PREC14A	RUBRIC CAPITAL MANAGEMENT LP May 08 – DFAN14A May 03 – DFAN14A May 01 – DFAN14A Apr 30 – DFAN14A Apr 29 – DFAN14A Apr 17 – DFAN14A Apr 17 – DEFC14A Apr 02 – PRRN14A Mar 26 – PRRN14A

CEO & CFO MOVES

COMPANY	MARKET CAP / TSR	ROLE	LEAVING	JOINING	JOINER BIOGRAPHY
180 LIFE SCIENCES CORP (ATNF)	Mkt Cap: $1.7M 1-Yr TSR: -90.1%	CEO	James N Woody 3.5 yrs ; -88.2% TSR	Blair Jordan	BLAIR JORDAN – CLASS II DIRECTOR Mr. Jordan is an experienced senior executive and corporate director with experience in both private and public companies across a variety of sectors. Mr. Jordan currently serves as Co-Founder and Chief Executive Officer of HighMont Advisors Inc., a Vancouver-based, globally focused strategy and finance consulting company, specializing in helping clients facing cor…read full bio
ACELYRIN INC (SLRN)	Mkt Cap: $480.0M 1-Yr TSR: -79.7%	CEO	Shao-Lee Lin 3.8 yrs ; -78.1% TSR	Mina Kim	Ms. Kim, age 50, had served as the Company’s Chief Legal and Administrative Officer since November 2022. From January 2020 to September 2022, she served as Chief Legal Officer and Head of Corporate Development at Zymergen, Inc., a biotechnology company. Previously, she also served as the Senior Vice President of Corporate Strategy and General Counsel of Atara Biotherapeutics, Inc., a ph…read full bio
ALIGHT INC (ALIT)	Mkt Cap: $4.3B 1-Yr TSR: -14.9%	CFO	Katie J.Rooney 2.8 yrs ; -4.2% TSR	Jeremy J. Heaton	Mr. Heaton has served as the Company’s Operating Chief Financial Officer since August 2023, and served as Executive Vice President, Finance from May 2020 through August 2023. Prior to joining Alight, Mr. Heaton spent over 20 years at General Electric in global financial management with a focus in corporate finance, strategic planning, and mergers and acquisitions. From July 2018 to May 2020,…read full bio
ANIKA THERAPEUTICS INC (ANIK)	Mkt Cap: $374.6M 1-Yr TSR: -2.8%	CFO	Michael L Levitz 3.8 yrs ; -8.3% TSR	Stephen D Griffin	Steve Griffin brings more than 15 years of experience in senior finance leadership roles and a proven track record of value creation at both large- and small-cap companies. Steve most recently served as Senior Vice President and Chief Financial Officer at VSE Corporation (NASDAQ: VSEC), where he helped orchestrate and execute a strategic transformation of a 60 year-old company through organic grow…read full bio
ATLAS ENERGY SOLUTIONS INC (AESI)	Mkt Cap: $2.5B 1-Yr TSR: 37.5%	CFO	John Turner 7.1 yrs ; 33.8% TSR	Blake McCarthy	Mr. McCarthy, age 39, is a seasoned executive with more than 15 years of experience serving in various oil and gas finance, investing and public company roles. Prior to joining the Company, Mr. McCarthy has spent seven years serving in various operational and financial roles at NOV, Inc., most recently as President of NOV Grant Prideco and Vice President of Corporate Development and Investor Relat…read full bio
BANCFIRST CORP (BANF)	Mkt Cap: $3.0B 1-Yr TSR: 28.7%	CFO	Kevin Lawrence 9.1 yrs ; 14.7% TSR	Hannah Andrus	Before joining BancFirst Corporation, Ms. Andrus was employed by Ernst & Young LLP where she was an Assurance Senior Manager. Ms. Andrus holds a Master of Science in Accounting and a Bachelor of Business Administration from Southern Methodist University and is a Certified Public Accountant….read full bio
BEACON ROOFING SUPPLY INC (BECN)	Mkt Cap: $5.9B 1-Yr TSR: 54.7%	CFO	Carmelo Carrubba .3 yrs *interim;	Prithvi Gandhi	Mr. Gandhi has served as the Vice President of Finance and Chief Financial Officer of TAMKO Building Products LLC, a national building products manufacturer and supplier, since August 2022. Mr. Gandhi previously served as the Chief Financial Officer of Fast Radius, Inc. (previously NASDAQ: FSRD), a cloud manufacturing and digital supply chain company, from August 2021 to July 2022. Prior to joinin…read full bio
BOSTON OMAHA CORP (BOC)	Mkt Cap: $486.3M 1-Yr TSR: -23.0%	CEO	Alex B Rozek 9.3 yrs	Consolidates to single CEO	Consolidates to single CEO
BRAINSTORM CELL THERAPEUTICS INC (BCLI)	Mkt Cap: $31.9M 1-Yr TSR: -84.1%	CEO	Stacy Lindborg 1.3 yrs ; -57.4% TSR	Consolidates to single CEO	Consolidates to single CEO
BRIXMOR PROPERTY GROUP INC (BRX)	Mkt Cap: $6.7B 1-Yr TSR: 10.5%	CEO	Brian T Finnegan .1 yrs *interim;	James M Taylor Jr	James M. Taylor Jr Age 55 Director since 2016 Mr. Taylor has served as our Chief Executive Officer and President since May 2016 and as a director since June 2016. Mr. Taylor has more than 25 years of experience in the commercial real estate industry. From 2012 until joining Brixmor, he was Executive Vice President – Chief Financial Officer and Treasurer for Federal Realty Investment Trust, a r…read full bio
CINCINNATI FINANCIAL CORP (CINF)	Mkt Cap: $18.5B 1-Yr TSR: 14.8%	CEO	Steven J Johnston 13.0 yrs ; 14.0% TSR	Stephen M Spray	Stephen M. Spray Age: 57 Director since 2024 President Committees: Executive U.S. Insurance Subsidiary Director Mr. Spray serves as president of Cincinnati Financial Corporation and its U.S.-based subsidiaries. He holds executive oversight of property casualty sales and marketing, admitted and nonadmitted commercial and personal lines underwriting, human resources, corporate communications and lif…read full bio
CROCS INC (CROX)	Mkt Cap: $8.5B 1-Yr TSR: 19.7%	CFO	Anne Mehlman 5.8 yrs ; 40.4% TSR	Susan L Healy	Ms. Healy, age 58, served as Chief Financial Officer of IAA, Inc., a global marketplace for automotive buyers and sellers, from September 2021 until March 2023. From September 2016 to January 2021, Ms. Healy served as the Senior Vice President, Finance for Ulta Beauty, a beauty retailer….read full bio
CURIOSITYSTREAM INC (CURI)	Mkt Cap: $64.3M 1-Yr TSR: 23.6%	CFO	Peter Westley 2.0 yrs ; -31.1% TSR	Phillip Brady Hayden	P. Brady Hayden, 51, will be named Chief Financial Officer effective May 31, 2024. Mr. Hayden joined the Company as Controller on June 12, 2023. Prior to joining the Company, Mr. Hayden was Vice President of Finance and Chief Accounting Officer at Cyren Ltd. Prior to that, he led financial reporting teams at the U.S. Postal Service and Spok Holdings, Inc. …read full bio
EMCORE CORP (EMKR)	Mkt Cap: $8.6M 1-Yr TSR: -88.9%	CEO	Jeffrey Rittichier 9.3 yrs ; -24.9% TSR	Matthew Vargas (interim)	Mr. Vargas will also continue to serve in his current role as the Company’s VP, Sales, while serving as the interim Chief Executive Officer. Mr. Vargas, age 38, has served as the Company’s VP, Sales, since December 2022, after serving as the Company’s Sales Director from August 2022 until December 2022. Prior to joining the Company, Mr. Vargas served as the TACNAV Busin…read full bio
GENPREX INC (GNPX)	Mkt Cap: $4.6M 1-Yr TSR: -92.4%	CEO	John Rodney Varner 11.8 yrs ; -50.8% TSR	Ryan M Confer (interim)	Mr. Confer, age 42, has served as Genprex’s CFO since September 2016. From December 2013 through September 2016, he served as Genprex’s Chief Operating and Financial Officer, and from June 2011 to December 2013 as Genprex’s Business Manager. Mr. Confer has served the Company in a variety of strategic, operations, and finance capacities since its inception in 2009 both as a c…read full bio
INSTACART (MAPLEBEAR INC) (CART)	Mkt Cap: $9.6B 1-Yr TSR: %	CFO	Nick Giovanni 3.3 yrs ; 19.1% TSR	Emily Reuter	Ms. Reuter, age 40, has served as the Company’s Vice President, Finance since January 2024. From May 2014 to November 2020 and May 2021 to November 2023, Ms. Reuter served in a number of roles at Uber Technologies, Inc., a technology-based mobility provider, including most recently in finance leadership roles as Vice President, Head of Corporate Finance from February 2023 to November 2023 an…read full bio
IROBOT CORP (IRBT)	Mkt Cap: $327.8M 1-Yr TSR: -70.1%	CEO	Glen Daniel Weinstein .3 yrs *interim;	Gary S. Cohen	Gary Cohen, age 63, has more than 25 years of executive leadership and turnaround experience. Most recently, Mr. Cohen served as CEO and a member of the board directors at Qualitor Automotive from 2015 – 2022. Prior to Qualitor Automotive, Mr. Cohen served as CEO at Timex from 2010 – 2013, where he led an $800 million multi-brand business and global team of 5,000 employees. E…read full bio
LENDWAY INC (LDWY)	Mkt Cap: $9.8M 1-Yr TSR: -19.8%	CFO	Zackery Weber 2.4 yrs ; -31.5% TSR	Elizabeth E. McShane	Ms. McShane, age 46, most recently served as Vice President and Corporate Controller at Regis Corporation since October 2021. Previously, she served as Associate Vice President Consolidations, Technical Accounting and Reporting from 2018 to October 2021. She started her professional career at Arthur Anderson, built a foundation in public accounting with over nine years of service in audit at KPMG …read full bio
METHODE ELECTRONICS INC (MEI)	Mkt Cap: $407.7M 1-Yr TSR: -71.0%	CEO	Avinash Avula .3 yrs	Kevin J Nystrom (interim)	Mr. Nystrom, age 64, has been a Partner and Managing Director at AlixPartners LLP since 1999. Mr. Nystrom’s assignments through AlixPartners have included being Interim Chief Executive Officer for iAero Group Holdings, an airline, from March 2022 to April 2024, Chief Restructuring Officer at Blackhawk Mining, a coal mining company, from April 2019 to November 2019 and Chief Restructuring Off…read full bio
MONTANA TECHNOLOGIES CORP (AIRJ)	Mkt Cap: $681.8M 1-Yr TSR: 24.5%	CFO	Jeff Gutke .2 yrs	Stephen S Pang	Jeff Gutke previously served as Chief Financial Officer at Montana Technologies LLC since 2021. In 2021, Mr. Gutke founded Doxey Capital LLC, a private investment and advisory services firm. Prior to founding Doxey Capital LLC, Mr. Gutke served as Managing Director of Talara Capital Management and was a member of the firm’s investment committee from February 2017 to January 2021. Prior to jo…read full bio
MSA SAFETY INC (MSA)	Mkt Cap: $7.5B 1-Yr TSR: 41.8%	CEO	Nishan J Vartanian 6.0 yrs ; 15.2% TSR	Steven C Blanco	Steven C. Blanco Qualifications: Mr. Blanco has served in several executive roles for the Company for the past 12 years. As the Company’s President and Chief Operating Officer (and incoming Chief Executive Officer, effective May 2024), and given his prior roles with MSA, Mr. Blanco brings broad experience to the Board concerning the Company’s business and markets across the world. He has strong ex…read full bio
NEXTDOOR HOLDINGS INC (KIND)	Mkt Cap: $921.1M 1-Yr TSR: 15.1%	CEO	Sarah Friar 2.5 yrs ; -45.5% TSR	Nirav N Tolia	Nirav Tolia DIRECTOR Mr. Tolia has served as the Executive Chair since March 2024, and will serve as the Chief Executive Officer, President and Chairperson of the Board of Directors, effective as of the Transition Date. Mr. Tolia is a co-founder of Nextdoor, Inc. and previously served as its Chief Executive Officer from September 2010 to December 2018. Before his tenure at Nextdoor, Inc., Mr. Toli…read full bio
OLAPLEX HOLDINGS INC (OLPX)	Mkt Cap: $1.1B 1-Yr TSR: -58.7%	CFO	Eric Tiziani 2.7 yrs ; -65.5% TSR	Paul Kosturos (interim)	Mr. Kosturos is a Managing Director at Alvarez & Marsal, where he has specialized in interim CFO assignments since 2009, and has worked in a variety of industries, including retail, consumer goods, restaurants, manufacturing, software solutions and telecommunications….read full bio
OSI SYSTEMS INC (OSIS)	Mkt Cap: $2.3B 1-Yr TSR: 14.6%	CEO	Deepak Chopra 37.6 yrs ; 9.5% TSR	TBD	Leaving at end of year. Search for successor underway.
P3 HEALTH PARTNERS INC (PIII)	Mkt Cap: $231.4M 1-Yr TSR: -62.1%	CEO	Sherif Abdou 2.4 yrs	Aric Coffman	Prior to joining the Company, Dr. Coffman, age 51, most recently, from December 2021 until April 2024, served as Chief Executive Officer and as a director of Honest Medical Group, a physician led value-based care enablement organization. Prior to the Honest Medical Group, Dr. Coffman served in various roles at DaVita Medical Group, one of the nation’s leading independent medical groups,…read full bio
PATHFINDER BANCORP INC (PBHC)	Mkt Cap: $76.9M 1-Yr TSR: -2.8%	CFO	Walter Rusnak 5.4 yrs ; -.8% TSR	Justin K Bigham	Mr. Bigham was formerly the Executive Vice President and Chief Community Banking Officer of Financial Institutions, Inc. and Five Star Bank from February 2021 until December 2023. He also served as Chief Financial Officer of Financial Institutions, Inc. and Five Star Bank from April 2019 until February 2021. Prior to his time at Five Star Bank, Mr. Bigham served as Director of Financial Plann…read full bio
QUAKER CHEMICAL CORP (KWR)	Mkt Cap: $3.4B 1-Yr TSR: -10.0%	CFO	Shane Hostetter 3.2 yrs ; -7.1% TSR	Tom Coler	Mr. Coler is currently Executive Vice President and Chief Financial Officer at Savage Corporation (“Savage”), a privately held global provider of supply chain infrastructure and solutions, a position he has held since October 2022. Prior to joining Savage, Mr. Coler served as Vice President, Finance for the Health, Hygiene & Consumables business unit from 2019-2022 and Vice Preside…read full bio
QUIDELORTHO CORP (QDEL)	Mkt Cap: $2.9B 1-Yr TSR: -50.6%	CEO	Michael S Iskra .3 yrs *interim;	Brian J Blaser	Mr. Blaser (age 59) most recently served as Executive Vice President, Diagnostic Products of Abbott Laboratories (NYSE: ABT), a global medical device company, from 2012 to June 2019, where he oversaw the company’s global diagnostics organization, including its core laboratory, point of care, rapid diagnostics and molecular diagnostics businesses. Prior to that role, Mr. Blaser served in vari…read full bio
SAGIMET BIOSCIENCES INC (SGMT)	Mkt Cap: $145.8M 1-Yr TSR: %	CFO	Joseph Oriti .3 yrs *interim;	Thierry Chauche	Mr. Chauche, age 48, has over 20 years of financial and operational leadership experience in finance and healthcare companies. He previously served as the Chief Financial Officer of Provention Bio, Inc. (“Provention”). from December 2021 until it was acquired by Sanofi AG in April 2023. Prior to Provention Mr. Chauche served as the Vice President and Head of Strategic Financial …read full bio
SAVERS VALUE VILLAGE INC (SVV)	Mkt Cap: $2.8B 1-Yr TSR: %	CFO	Jay Stasz 1.5 yrs	Michael W Maher	Mr. Maher, age 50, is a seasoned finance leader, bringing to the Company over 25 years of experience in the retail and consumer sectors. Most recently, Mr. Maher served as Interim Chief Financial Officer at Nordstrom, Inc. from December 2022 to May 2023. Mr. Maher spent over 13 years in various senior finance roles at Nordstrom, including Senior Vice President, Finance and Vice President, Finance …read full bio
STOKE THERAPEUTICS INC (STOK)	Mkt Cap: $626.0M 1-Yr TSR: -.2%	CFO	Stephen J Tulipano 5.2 yrs ; -15.2% TSR	Thomas Leggett	Before joining the Company, Mr. Leggett served as the Chief Financial Officer at Affinia Therapeutics, Inc., a biotechnology company, from December 2021 to April 2024. Mr. Leggett also served as the Chief Financial Officer of Black Diamond Therapeutics, Inc., a biotechnology company, from September 2019 to December 2021. Prior to that, Mr. Leggett served as Chief Financial Officer a…read full bio
THOUGHTWORKS HOLDING INC (TWKS)	Mkt Cap: $959.1M 1-Yr TSR: -61.2%	CEO	Guo Xiao 2.8 yrs ; -60.7% TSR	Mike Sutcliff	Mr. Sutcliff, 61, has served as the Chief Executive Officer and Co-Founder of Mobeus Industries, Inc., a technology company developing spatial computing and artificial intelligence products, since February 2021. He will transition to become Non-Executive Chairman of such company no later than June 17, 2024. He also currently serves, since April 2021, as Executive Chairman of HeadVantage Corporatio…read full bio
VSE CORP (VSEC)	Mkt Cap: $1.3B 1-Yr TSR: 69.0%	CFO	Stephen D Griffin 3.5 yrs ; 31.0% TSR	Tarang Sharma (interim)	Mr. Sharma, age 38, presently serves as Vice President, Controller and Corporate Development of the Company, which position he has held since January 2024. He previously served as the Company’s Vice President, Corporate Treasurer from 2021 to 2024 and Assistant Corporate Controller from 2015 to 2021. Prior to his roles with the Company, Mr. Sharma served as a Manager at PricewaterhouseCooper…read full bio
WOLVERINE WORLD WIDE INC (WWW)	Mkt Cap: $1.1B 1-Yr TSR: -10.9%	CFO	Michael D Stornant 8.9 yrs ; -9.6% TSR	Taryn Miller	Most recently, Ms. Miller, 52, served as Vice President, Corporate and Commercial Finance of Corteva Agriscience from October 2022 until October 2023. Ms. Miller previously served as Chief Financial Officer, Global Business Units, Enterprise FP&A, and Investor Relations of Kimberly-Clark Corporation from April 2017 until October 2022. From September 1997 until April 2017, Ms. Miller served in …read full bio

Recent Analysis

Daily SPAC Update – September 18, 2024

Yhn Acquisition $60M IPO. PTWO + SBC Medical Group Deal Closes as SBC. OAKU Extension Vote Set.

Daily SPAC Update – September 17, 2024

PLMI DeSPACs to VEEA. CHEB and SHPO SPAC Deals Announced. OAKU Sets Extension Vote. Prospect Energy Holdings Pulls SPAC IPO. AOGO Delists. Zalatoris II Redemption Update. NBST Trust Update.

Daily SPAC Update – September 16, 2024

Alpha Star Acquisition + OU XData Group SPAC Deal. GATE Extension Approved. FIAC Deal Approved. NNAG Liquidation. NBST Extension Vote Set. BAYA and ROSS Extension Votes.

Daily SPAC Update – September 13, 2024

FIAC + DevvStream Deal Vote. NOVV Deal Approved. PORT + Angel Studios Deal. NNAG Liquidation. FVN $50M IPO.

Daily SPAC Update – September 12, 2024

AVHI Deal Approved. PORT + Angel Studios Deal. NOVV + Real Messenger Deal Vote. HCVI and NVAC Set Extension Votes. NNAG to Liquidate on Sept 13.

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