Xperi: 2nd proxy firm concludes Rubric fails to persuade change in board

Xperi announced that a second independent proxy advisory firm, Glass, Lewis recommended that Xperi stockholders vote “FOR” all of the Company’s director nominees on the BLUE proxy card ahead of the Company’s 2024 Annual Meeting of Stockholders o be held on May 24 . One of the Company’s stockholders, Rubric Capital Master Fund or Rubric, has nominated two candidates to replace half the company’s independent directors on the Xperi Board of Directors. Like Institutional Shareholder Services Glass Lewis concluded that Rubric has failed to make a persuasive case for change in the composition of the Board…Commenting on the recommendations of Glass Lewis and ISS, the Board said, “We are pleased that both leading independent proxy advisory firms, Glass Lewis and ISS, have recommended that stockholders support all of the Board’s nominees at this year’s annual meeting.” The Board continued, “like ISS, Glass Lewis did not find cause to disrupt a strategy and team that are delivering results. We encourage our stockholders to vote for the incumbents to ensure focus and execution of our existing strategy.”