GrafTech announces cooperation agreement with stockholder Nilesh Undavia

GrafTech (EAF) announced that it has entered into a cooperation agreement with one of the company’s largest stockholders, Nilesh Undavia, who owns approximately 6.7% of the company’s outstanding common stock. Pursuant to the Cooperation Agreement, GrafTech has appointed Sachin Shivaram to the Board of Directors of the company, effective immediately. Additionally, GrafTech and Undavia will work together to identify a mutually agreed upon independent candidate to nominate for election to the Board at the 2025 annual meeting of stockholders of the company, although if the parties are unable to find a mutually agreeable candidate in time for inclusion on the ballot of the 2025 Annual Meeting, they will continue to work together to find a mutually agreeable candidate to be appointed as a director on the Board. In connection with the appointment of Shivaram, Undavia has agreed to customary standstill provisions and voting commitments during the term of the Cooperation Agreement.