SUMMIT AGENDA

Ken Squire is the Founder and President of 13D Monitor and the Founder, Chief Investment Strategist and Portfolio Manager of the 13D Activist Fund.

13D Monitor is the premier subscription research service specializing in the analysis of activist investors' 13D filings and following the broader shareholder activist community. Squire has focused exclusively on following shareholder activism and corporate governance since 2006 and is a leading commentator in the industry. He is frequently quoted in the Wall Street Journal and other financial publications, and his weekly column The Activist Spotlight was featured in Barron's from 2007 to 2020. He is now a CNBC Contributor and The Activist Spotlight column can be read on CNBC.com.

In 2010, Squire created the annual Active-Passive Investor Summit, a forum that brings together the entire activist investor and corporate governance community and provides top activist investors a platform to present their best investment ideas.

In 2012, Squire founded the 13D Activist Fund, an event-driven mutual fund that focuses on investing in opportunities identified in 13D filings. Squire is the founder, chief investment strategist and portfolio manager. The Fund was the first of its kind, providing both individual and institutional investors diversified, liquid and low-cost access to the most compelling activist investments in this asset class. Following the success of the 13D Activist Fund, Squire launched a hedge fund for larger institutional investors. This private investment vehicle invests alongside, and with the same strategy, as the 13D Activist mutual fund.

In 2021, Squire created the AESG™ investment category, an activist investment style focused on improving ESG practices at companies.

Prior to starting 13D Monitor, Squire was a private equity investor as a principal of LSC Investors and Crown Capital Group, where he worked on analyzing, making and managing various investments in public and private companies. Prior to that, he was an associate in the Corporate and Securities Department at Weil, Gotshal & Manges LLP in their New York office. Squire holds a B.S. with a concentration in finance from New York University's Stern School of Business and a J.D. from New York University's School of Law where he was an editor of the Law Review.

Jeffrey Smith is a Managing Member, Chief Executive Officer, and Chief Investment Officer of Starboard Value LP. Mr. Smith is currently on the Board of RB Global, Inc. Formerly, Mr. Smith has served as the Chair of the Boards of Papa John’s International, Advance Auto Parts, Inc., and Darden Restaurants, Inc. Mr. Smith’s board experience includes sitting on more than fifteen public company Boards. Mr. Smith also serves on the Board of Advisors for First Generation Investors, inc., a non-profit with a mission to help first-generation investors learn about wealth generation as well as the Shaquille O’Neal Foundation, a foundation creating pathways for underserved youth to help them achieve their full potential. Mr. Smith received his Bachelor’s of Science in Economics from The Wharton School of Business at The University of Pennsylvania.

Kelly Evans is anchor of CNBC’s “The Exchange” (M-F, 1PM-2PM ET), the newsroom-based program for today’s investor, and co-anchor of CNBC’s “Power Lunch” (M-F, 2PM-3PM ET), which both broadcast from the network’s headquarters in Englewood Cliffs, NJ. She is also author of The Exchange newsletter, which includes her commentary about top market stories.

Senior Policy Advisor & Of Counsel, Sullivan & Cromwell LLP
Independent Chair, Apollo Global Management

Jay Clayton’s activities involve the intersection of business strategy, corporate governance, regulation, and market developments. As Senior Policy Advisor at Sullivan & Cromwell, he advises various organizations on proactively navigating these issues. Jay also is the Independent Chair of Apollo Global Management, a Director of American Express, an Adjunct Professor at the University of Pennsylvania, and Co-Chair of Penn’s Institute for Law and Economics. He also shares his views on current issues through broadcast and print media, including CNBC, The Wall Street Journal and the New York Times.

Jay Clayton served as the Chairman of the U.S. Securities and Exchange Commission from May 2017 to December 2020. In that capacity, he also was a member of the Financial Stability Oversight Council, the Financial Stability Board and the President’s Working Group on Financial Markets.

During Mr. Clayton’s tenure, the SEC focused on modernizing the regulation and oversight of U.S. equity (circa $50 trillion) and fixed income markets (circa $50 trillion), concentrating on the interests of long-term investors. Under his leadership, the SEC updated and improved dozens of rules and regulations, increasing efficiency, stability and investor protection. Mr. Clayton oversaw an investor-focused and impactful enforcement program, involving over 2,800 actions, resulting in $15 billion in financial remedies and over $3.5 billion returned to harmed investors.

The SEC also addressed various market developments and emerging risks, including the COVID-19 economic shock, the Brexit and LIBOR transitions, and various cybersecurity matters. Mr. Clayton testified before Congress on numerous occasions and substantially increased the scope and quality of the Commission’s public reporting of its operations and initiatives.

Prior to Mr. Clayton’s tenure at the SEC, he was a member of Sullivan & Cromwell’s management committee. He was a lead lawyer in an array of notable matters, including representing various financial institutions during the 2008 global financial crisis and the underwriters in the world’s largest initial public offering. Mr. Clayton was resident in the firm’s New York, London and Washington offices.

Mr. Clayton earned a Bachelor of Science degree in engineering from the University of Pennsylvania, a Bachelor of Arts and Master of Arts degree in economics from The University of Cambridge and a Juris Doctor degree from The University of Pennsylvania Carey Law School.

Gary D. Cohn is an American business leader, investor and the former director of the U.S. National Economic Council. He is an internationally recognized expert on the financial markets, global economy, economic policy and U.S. politics.

Mr. Cohn is Vice Chairman of IBM, working in partnership with IBM’s Executive Leadership Team on a wide range of business initiatives and external engagement, in areas including business development, public advocacy and client relationship management.

Mr. Cohn served as Assistant to the President for Economic Policy and Director of the National Economic Council from 2017-2018. As chief economic advisor to the president of the United States, Mr. Cohn managed the administration’s economic policy agenda and led the successful effort to grow the U.S. economy, create jobs and increase wages through tax and regulatory reform.

Before serving in the White House, Mr. Cohn was President and Chief Operating Officer of The Goldman Sachs Group, Inc. from 2006-2016. He joined Goldman Sachs in 1990 and held several other leadership positions including Global Co-Head of the Equities and Fixed Income, Currency and Commodities Division. He was a member of the firm’s Board of Directors and Chairman of the Firmwide Client and Business Standards Committee.

Mr. Cohn began his career at U.S. Steel before moving to New York to trade on the New York Commodities Exchange from 1982-1990.

Mr. Cohn invests across the cybersecurity, block chain infrastructure, regulatory technology and medical technology sectors. He serves on the corporate boards of Abyrx, Gro Intelligence, Lazurite and Sotera and is the Chairman of the Board of Pallas Advisors. Additionally, Mr. Cohn serves on the advisory board for Starling. He is a member of the Systemic Resolution Advisory Committee (SRAC) of the Federal Deposit Insurance Corporation (FDIC).

Mr. Cohn has long been dedicated to advancing healthcare and education. He is a member of the Board of Trustees of NYU Langone Health and serves as Chairman of the Advisory Board for the NYU Langone Orthopedic Hospital. He is also on the Board of Overseers of the NYU Tandon School of Engineering. In 2019 Mr. Cohn was a Visiting Fellow at the Harvard Kennedy School’s Institute of Politics.

Mr. Cohn lives in New York with his wife and three daughters. He grew up in Shaker Heights, Ohio, and received his undergraduate degree from American University in 1982.

Sebastian Alsheimer is a corporate partner in the New York office of Wilson Sonsini Goodrich & Rosati. He is a leader of the firm’s shareholder engagement and activism practice, focusing on shareholder activism, proxy contests, corporate governance, and mergers and acquisitions.

Bruce H. Goldfarb is President and Chief Executive Officer of Okapi Partners, the proxy solicitation and investor response firm. Bruce works extensively with corporations and investors focusing on investor response strategy and execution for contested election campaigns, mergers and acquisitions, corporate governance matters, investor engagement campaigns, and other extraordinary situations.

Prior to establishing Okapi Partners, Bruce was the Senior Managing Director and General Counsel of Georgeson Inc. (now a subsidiary of Computershare Limited), where he headed the Global M&A Advisory Group.

Before entering the proxy solicitation business, Bruce was a Senior Vice President of the investment management firm, Scudder, Stevens & Clark, which is now a part of DWS Group. At Scudder, he was a member of the Legal Department and served as Chairman of the Firm’s Proxy Review Committee.

Bruce practiced corporate law with Cravath, Swaine & Moore for more than six years, where he specialized in mergers and acquisitions, securities transactions and international matters.

Bruce is a current member of the Board of Visitors of the Columbia University School of Law, the Advisory Board of the Ira M. Millstein Center for Global Markets and Corporate Ownership, and the Board of Advisors of the NYU Law School Institute for Corporate Governance and Finance. He was previously a member of the Council of Institutional Investors Market Advisory Council and the Advisory Board of the Harvard Law School Program on Corporate Governance. Bruce also serves as a member of the Board of Trustees of the not-for-profit Signature Theatre Company.

One of Canada’s leading lawyers in shareholder activism and mergers and acquisitions, Patricia spearheads the activism practice of Davies Ward Phillips & Vineberg, advising both activists and issuers. As one of the country’s pre-eminent law firms, Davies has been involved in many high-profile activist campaigns in Canada, representing activists and investors including Elliott Management in relation to Suncor Energy, Turtle Creek in relation to Gildan Activewear, Riot Platforms in connection with Bitfarms Ltd., Pershing Square in connection with Canadian Pacific and Allergan/Valeant, Mantle Ridge in respect of CSX, Aramark and Dollar Tree, Legion Capital in respect of Primo Water, JANA Partners in respect of Agrium, MHR Fund Management in respect of Lions Gate, Oaktree Capital in respect of Rayonier/Tembec, and defending issuers including SunOpta Inc., TransCanada Corporation, Sherritt International, Telus Corporation, Slate Asset Management, Invest REIT, Turquoise Hill Resources, IAMGold Corporation and Aleafia Health. Patricia is a member of the Board of the Ontario Securities Commission. She is also an adjunct professor of law at Osgoode Hall Law School where she teaches advanced mergers and acquisitions.

In 2024, Patricia was awarded the Award of Excellence by Osgoode Hall Law School. She was named one of the leading female transactional lawyers in the world for 2023 by IFLR1000 and was honored as one of Canada’s Top 100 Most Powerful Women by WXN. She is recognized in Chambers Global: The World’s Leading Lawyers for Business as a Band 1 lawyer in Corporate/M&A and in the Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada in Corporate Finance and Securities; Corporate Commercial; and Mergers and Acquisitions. Patricia was named Toronto’s 2020 Lawyer of the Year in Mergers and Acquisitions Law by Best Lawyers in Canada, was honored with a Lexpert Zenith Award as one of Canada’s Leading Women Lawyers and was named among the Top 25 Most Influential Lawyers in Canada by Canadian Lawyer magazine.

Sarat graduated magna cum laude from Lehigh University in 1992 where he was a Martindale Scholar, earning a Bachelor of Science in Business and Economics. After working at Coopers & Lybrand as a certified public accountant, Sarat attended Harvard Business School where he earned a Masters in Business Administration. Sarat worked for JP Morgan in the Mergers & Acquisition/Corporate Finance area focusing on domestic and cross-border transactions until joining DCLA® in 1999. Sarat serves on Lehigh University's Executive Board of Trustees, is the President of the Martindale Society and is Chair of the University's Endowment Investment Committee. He was also President of the Lehigh University Alumni Association. Sarat serves on the Children's Hope Advisory Board, a New York-based non-profit organization that provides assistance to numerous children's programs in India and the United States. He holds the Chartered Financial Analyst® designation, is a Chartered Investment Counselor and a member of the New York Society of Security Analysts. Sarat is also a member of the Young Presidents' Organization (YPO). He appears regularly on CNBC as an on-air contributor providing market commentary and equity analysis. Sarat became a partner of the firm in 2001, a Managing Director in 2013 and a Managing Partner in 2016.

Mr. Hetrick is the Director of Research at Engaged Capital. His responsibilities include managing the research process from idea generation through to portfolio company communication as well as developing and overseeing the analyst team.

Prior to joining Engaged Capital, Mr. Hetrick spent over ten years with Relational Investors, a $6 billion activist equity fund which he joined following completion of his undergraduate studies. Mr. Hetrick began his career with Relational as an associate analyst when the firm had roughly $800 million in assets under management. He eventually became the firm’s senior consumer analyst overseeing over $1 billion in consumer sector investments. Prior to his work heading up the consumer research team, Mr. Hetrick was a generalist covering major investments in the technology, financial, automotive and food sectors.

From June 2017 to February 2024, Mr. Hetrick was a member of the Board of Directors of Upbound Group, formerly Rent-A-Center, Inc., a NASDAQ listed furniture and electronic rent-to-own company where he served as Chair of the Compensation Committee and a member of the Nominating and Governance Committee. Mr. Hetrick graduated summa cum laude with degrees in Economics and Finance from Pepperdine University in Malibu, CA. He is also a CFA Charterholder.

Changhwan Lee is the founder, CEO, and CIO of Align Partners, established in 2021. He also serves as a non-executive director at SM Entertainment (KOSE:041510) and a director at the Korea Corporate Governance Forum. At Align Partners, Changhwan spearheaded public shareholder campaigns at SM Entertainment and seven major publicly listed banks in Korea, including KB, Shinhan, Hana, Woori, BNK, DGB, and JB. Prior to founding Align Partners, he was part of KKR’s Private Equity team in Korea, where he contributed to significant private equity investments such as Oriental Brewery (operation and exit) and KCF Technologies (entry, operation, and exit). Earlier in his career, he worked as an analyst at Goldman Sachs' Investment Banking Division in Seoul, focusing on M&A advisory for both public and private companies in Korea. Changhwan Lee holds a Bachelor of Business Administration (Summa Cum Laude) from Seoul National University.

Mr. Ostfeld is the Managing Partner and Portfolio Manager at JANA Partners where he has nearly 20 years of experience enhancing value as an engaged shareholder. Prior to joining JANA in 2006, Mr. Ostfeld was at GSC Partners, where he served in their distressed debt private equity group and focused on acquiring companies through the restructuring process and enhancing value as an equity owner. He was previously an investment banker at Credit Suisse First Boston Corporation.

Mr. Ostfeld currently serves on the Board of Directors of Mercury Systems and TreeHouse Foods. He was previously a director at Conagra Brands, HD Supply until its sale to Home Depot, and Team Health until its sale to Blackstone Group. Mr. Ostfeld serves on the board of Columbia University’s Richman Center for Business, Law and Public Policy.

Mr. Ostfeld received a JD from Columbia Law School where he was a Senior Editor of Columbia Law Review, an MBA (Beta Gamma Sigma) from Columbia Business School and a BA (magna cum laude/Phi Beta Kappa) from Columbia University.

Prior to founding Palliser Capital in 2021, James Smith was the Head of Elliott’s Hong Kong office. James joined Elliott UK in 2001 where he focused on European investments before moving to Hong Kong and advancing to the roles of Portfolio Manager & Head of Office. Prior to joining Elliott and from 1999, James gained a variety of experience in the telecommunications sector with start-up company FirstMark Communications Europe. Prior to FirstMark, and following his graduation from Cambridge University in 1997, James held the role of Investment Analyst at Fleming Asset Management.

Lauren Taylor Wolfe is co-founder and Managing Partner of Impactive Capital, a $3 Billion active impact investing firm. Impactive Capital helps companies allocate capital effectively and ethically to drive more sustainable, profitable and valuable businesses over the long run. Prior to founding Impactive Capital, from 2007 to 2017, Lauren was a Managing Director at investment firm, Blue Harbour Group, where she led investments in the technology, consumer and business and healthcare services industries. Prior to joining Blue Harbour in 2007, Lauren was a Portfolio Manager at SIAR Capital, where she invested in small capitalization public companies and private companies.

Lauren received an M.B.A. from The Wharton School at University of Pennsylvania and a B.S. Magna Cum Laude from Cornell University. Lauren has been active on various public and private boards including, $4 Billion TEV Envestnet Inc [NYSE: ENV], $10 Billion TEV HD Supply [Nasdaq: HDS], 30% Club Steering Committee, an Angel Member of 100 Women in Finance.

Peter Feld is a Managing Member, Portfolio Manager, and Head of Research of Starboard Value LP. Mr. Feld has extensive public company board experience having served on boards through his role at Starboard Value. Prior to founding Starboard in 2011, Mr. Feld was a Managing Director and Head of Research at Ramius LLC for the funds that comprised the Value and Opportunity investment platform. Before joining Ramius in February 2005, Mr. Feld was an analyst in the Technology Investment Banking group at Banc of America Securities LLC.

Mr. Feld is a board member of the Centurion Foundation, a non-profit organization that supports the NYPD. Mr. Feld graduated from Tufts University, where he received a B.A. in Economics.

Ed Garden is the Chairman and Chief Executive Officer of Garden Investments, his family office.

Mr. Garden founded Trian Fund Management (“Trian”) in 2005 with Nelson Peltz and Peter May. He was the Chief Investment Officer of Trian until May 2023 and presently serves as a Senior Advisor. As Chief Investment Officer, he oversaw Trian’s portfolio management, idea generation and due diligence activities. Mr. Garden has extensive experience engaging with public company management teams and boards. He currently serves on the board of General Electric. He previously served on the boards of Bank of New York Mellon, Family Dollar Stores, Invesco, Janus Henderson Group, Legg Mason, Pentair, The Wendy’s Company and Triarc Companies.

Tom Horton joined Global Infrastructure Partners as a partner in April of 2019. GIP is a leading global infrastructure investor.

Mr. Horton is former Chairman and Chief Executive Officer of American Airlines. He was also Chairman of the oneworld® alliance, of which American is a founding member. Following the merger with US Airways Group he served as Chairman of American Airlines Group, until 2014. He joined Warburg Pincus as a senior advisor in 2015.

As Chairman and CEO, he led American through a successful restructuring and turnaround which culminated in the merger with US Airways, creating the world's largest airline. With American, Horton held a broad range of leadership positions, including Chief Financial Officer.

In 2002, Horton joined AT&T, where he served as Vice Chairman and CFO. In 2005, Horton led the evaluation of strategic alternatives, ultimately leading to the combination with SBC, which formed the new AT&T.

In 2006 he returned to American and was named President in 2010 and Chairman and CEO in 2011.

Horton holds an MBA degree from the Cox School of Business at Southern Methodist University (SMU) and a BBA degree, magna cum laude, from Baylor University. He serves on the Board of Directors of Walmart Inc. and GE. He is lead director at both companies and previously served as presiding director for Qualcomm Inc. Horton is a commercial and multi-engine rated pilot and avid runner.

Daniel H. Burch is the Chairman, CEO and co-founder of MacKenzie Partners, Inc.; responsible for developing and implementing strategies and campaigns for clients involved in proxy contests, tender offers, mergers, financial restructuring and other complex corporate transactions. His particular focus is also on shareholder activism and corporate governance. He has led MacKenzie’s efforts on behalf of its clients in campaigns in North America and Europe for the past 30 years. Mr. Burch previously served as director of corporate development for a major NYSE listed real estate company.

He is a member of the Society for Corporate Governance and the National Investor Relations Institute.

B.S. Accounting - Lehigh University

A founding member of Joele Frank, Barrett advises Boards and management teams facing complex, high-profile events including proxy contests, mergers and acquisitions, unsolicited takeovers and special situations that threaten the Company’s reputation and their leadership’s credibility.

Over her 20 years with Joele Frank, she has counseled scores of companies navigating engagement with and front-page contests involving some of the most prominent activist investors, including Carl Icahn, D.E. Shaw, Elliott Management, JANA, Starboard, Third Point, Trian and ValueAct, among others.

A trusted M&A advisor, she develops and executes multi-stakeholder communications strategies that have influenced successful outcomes in hundreds of unsolicited, shareholder contested and negotiated M&A transactions.

She speaks frequently on subjects of proxy contests, activism, mergers and acquisitions, corporate crises and reputation management.

In recognition of her achievements, Barrett was named to PR Week’s inaugural “40 Under 40” list. She joined Joele Frank from Abernathy MacGregor Frank. Earlier she worked for Kirby McInerney & Squire and served in the office of Congressman Bob Goodlatte. She received a BA from the University of Virginia, where she also attended the University’s McIntire Institute for Business.

David A. Katz is a partner at Wachtell, Lipton, Rosen & Katz in New York City, an adjunct professor at New York University School of Law, and chair of the Board of Advisors of the NYU Law Institute for Corporate Governance and Finance. Mr. Katz is a corporate attorney focusing on mergers and acquisitions, corporate governance, shareholder activism and complex securities transactions, has been involved in many major domestic and international merger, acquisition and buyout transactions, strategic defense assignments and proxy contests, and has been involved in a number of complex public and private offerings and corporate restructurings. He frequently counsels boards of directors and board committees on corporate governance matters and crisis management.

Mr. Doyle is the Managing Partner of Nihon Global Growth Partners (NHGGP), a Japan-focused investment management firm with offices in Tokyo, Hong Kong and New York.

In 2001, Mr. Doyle co-founded CITIC Capital Partners, which has grown to become one of Asia’s largest private equity firms, managing US$9 billion in committed capital. He served as the co-Managing Partner of the firm from its inception until his retirement in 2015, and he continues to contribute as a Senior Advisor. During his tenure Mr. Doyle was instrumental in founding and managing the firm’s Japan investment strategy, which successfully completed fifteen management buyout investments in Japan starting in 2003.

Previously, Mr. Doyle was a General Partner of J.H. Whitney & Co., which he joined in 1995 and moved to China in 1999 to establish and lead J.H. Whitney’s Asia investment activities. Mr. Doyle was a Financial Analyst in the Mergers & Acquisitions Department at Morgan Stanley & Co. in New York. Mr. Doyle is a graduate of Harvard Business School and of Miami University (Ohio). Mr. Doyle speaks Mandarin Chinese (intermediate) and Japanese (beginner).

Nels Hansen is a partner in the Corporate/M&A practice group, based in Tokyo. He has helped clients complete hundreds of billions of US dollars in completed mergers and acquisitions, hostile or contested transactions, investments and joint ventures, acting primarily for technology, media and telecommunications companies, energy-related companies and private equity and venture capital funds.

In connection with M&A mandates and otherwise, he also has assisted numerous targets of activist shareholder situations in the U.S. and Japan. This experience, together with mandates on behalf of engagement and/or activist hedge funds themselves in the U.S. and Japan, helps our Tokyo team to guide Japanese and international clients in activist shareholder situations with a uniquely global perspective and understanding of both sides of the table.

His assistance of international clients with public and private company targeted M&A in the U.S., Japan and Europe, and private equity and venture capital investment in Asia, Europe and the U.S., form the core of his practice. In 2018, the FT Innovative Lawyers Asia-Pacific Awards selected Nels as a ‘Commended’ lawyer in the ‘Accessing New Capital and Markets’ category for assisting a client in a combined venture capital and project financing.

Chambers reports that “clients single out Nels Hansen for his ‘high level of legal expertise, high level of business understanding and ability to communicate in Japanese.’

Nels worked in Japan's Ministry of Economy, Trade & Industry and at the Research Institute of Economy, Trade & Industry from May 2009 to November 2010. Since 2015, Mr. Hansen has served at Keio Law School as the lecturer for the course “M&A and Strategic Alliances.”

Hirowaka Murakami is the Founding Member and Chief Investment Officer of the Yamauchi No.10 Family Office (Founding Family of Nintendo, "YFO") and Co-Chief Executive Officer of Taiyo Pacific Partners, an activist fund specializing in Japanese equity, where he also serves on the Investment Committee. Additionally, he is an Outside Director of Roland DG Corporation.

At YFO, Hirowaka oversees the design and management of the entire asset portfolio, with a mission to create value by supporting forward-thinking management teams. His investment philosophy challenges conventional norms, aiming to spark change and reignite Japan's spirit of innovation.

Hirowaka employs a multi-faceted investment strategy, targeting both Japanese public and private equities. His approach ranges from assertive activism to a “tough friend” model, fostering constructive engagement with management teams.

Hirowaka began his career at Deutsche Bank Group (Japan), where he provided strategic guidance to Japanese companies facing complex financial situations, including turnarounds and special circumstances. He later joined Goldman Sachs (Japan), advising leading Japanese corporations on growth strategies, intricate financial structuring, capital allocation, as well as anti-activism defense advisory.

Jim Chenard is a Managing Director and Heads Equity Solutions Globally, as well as Americas Equity Capital Markets at Nomura Securities International, Inc.

During his career, Jim has originated, structured, and executed a variety of equity and equity-linked financing, recapitalization, and hedging transactions for US and global issuers and investors. Additionally, he has structured and executed some of the largest structured equity stakesbuilding transactions disclosed in the US market.

Prior to joining Nomura in 2011, Jim spent approximately 4 years as an attorney at Davis Polk & Wardwell LLP where he specialized in structured transactions across asset classes, equity-linked capital markets, and corporate restructurings.

Jim has a BS in Computer Science and Psychology from Rensselaer Polytechnic Institute and a JD from Columbia Law School.

20 years of experience at Korean private equity industry

• Between 2011 and 2019, Sanghyun was the Head of Korea at the Carlyle Group, where he led large buyout transactions.
• Prior, he worked at Affinity Equity Partners as Managing Director and the most senior member of Korean office. At GIC, Sanghyun oversaw sourcing and executing private equity deals in Korea.
• Sanghyun started his career at McKinsey & Company (Seoul / Tokyo), in 1997.
• Over the past 20 years, Sanghyun observed how the top management of Korean companies make decisions, good and bad. He recruited top Korean executives to portfolio companies with stock incentives.
• Sanghyun closely worked with Board of Directors of portfolio companies, personally searching members with the right skill sets.
• BA from the Seoul National University and MBA from Harvard Business School

Liad Meidar is Founder and Managing Partner of Gatemore Capital Management where he serves as portfolio manager of the turnaround and activist strategy.

In 2015, Liad started Gatemore’s turnaround and activist strategy, taking highly concentrated positions in listed small- and mid-caps across the consumer, industrial, media, and technology sectors, and engaging with management, boards of directors and fellow shareholders to achieve significant recoveries in shareholder value. In 2018, Gatemore launched a co-mingled fund to house the strategy, the Gatemore Special Opportunities Fund, for which Liad serves as the portfolio manager.

Liad has extensive experience as a board member of companies undergoing turnarounds, including: a publicly traded semiconductor wafer foundry based in California; a privately held global machine tool builder with dual headquarters in the US and Germany; and most recently with Gatemore portfolio company DX (Group) plc, an AIM-listed leading provider of delivery solutions, including parcel freight, secure, courier, and logistics in the UK.

Liad is currently a board member of three Gatemore portfolio companies: GSE Worldwide, Inc., a fully integrated talent management and sports agency where he is Chairman; Factorial, Inc., developer of a breakthrough solid-state battery technology; and Third Point Investors Limited, an LSE-listed investment company.

In addition, Liad serves on the Dean’s Advisory Council at Princeton University. He received an AB in economics from Princeton University.

Mike Tomkins serves as a senior portfolio manager with Elliott Investment Management, a multi-strategy hedge fund. Mr. Tomkins joined Elliott in 2014 and leads the North American Energy team which targets public and private investments across the capital structure. Mr. Tomkins received a B.A. cum laude in Economics from Northwestern University in Evanston, Illinois, a J.D. cum laude from Harvard Law School and an M.B.A. from Harvard Business School in Cambridge, Massachusetts.

Shane is a leader of the firm's Critical Situations & Shareholder Activism group. His national practice focuses on complex securities litigation, proxy contest litigation, shareholder disputes, M&A litigation, corporate governance, regulatory and enforcement matters, and disputes involving wealth, capital markets and crypto businesses. He also has significant experience in securities class actions and recently co-led one of the few common issues class actions to proceed to trial. Many of his files have a cross-border component.

Shane also assists clients with their most complex and sensitive problems by conducting internal investigations into potential violations of securities law, anti-corruption and bribery legislation, fraud, regulatory breaches, and #metoo and BIPOC allegations.

While Shane is resolution-oriented, he's not afraid of advocating for his clients in a contested hearing. He has litigated across Canada in high stakes disputes for clients who are Canadian and international public companies, directors, officers, investment fund and portfolio managers, and registrants.

Shane is currently an Adjunct Professor at the University of Western Ontario Law School in Corporate Crime, Crisis & Culture and an Adjunct Moot Advisor of the University of Toronto Law School's Corporate Securities Competitive Program. He was an adjunct professor of Advanced Securities and a member of the teaching team for the Lawyer As Negotiator course at Osgoode Hall Law School. He has spoken at The Directors College, Osgoode Professional Development, The Advocates’ Society, The Law Society of Ontario and the Association of Corporate Counsel (Canada) on topics relating to corporate governance, shareholder disputes and securities litigation.

Since 2022, Shane has been a director of the Osgoode Hall Law School Alumni Association. As a member of McCarthy Tétrault’s National Pro Bono Committee, Shane used to manage the firm’s award-winning Unaccompanied Minors Project. This unique pro bono initiative helps minors navigate the refugee process. He also volunteers as a Designated Representative for the Unaccompanied Minors Project and as a mentor with the Osgoode Hall Mentorship Program.

Bilal Sayyed represents clients before the Federal Trade Commission (FTC) and Department of Justice (DOJ) in significant merger, civil and criminal antitrust matters. A significant portion of his practice involves representing investment funds on antitrust and Hart-Scott-Rodino (HSR) Act compliance matters; he has also provided expert witness services related to HSR compliance. Bilal also counsels clients before the FTC in consumer protection and privacy investigations. He maintains an active amicus and appellate brief writing practice in antitrust litigation and antitrust merger matters.

Prior to joining Cadwalader, Bilal was the Director of the FTC’s Office of Policy Planning (OPP) (2018-2021). In that role, he provided legal and policy advice to the Chairman and Commissioners on antitrust and consumer protection matters and worked closely with the senior and career leadership of the FTC’s Bureaus of Competition, Consumer Protection, and Economics. Under his leadership, OPP initiated and led the Commission’s Hearings on Competition and Consumer Protection in the 21st Century, and, as a follow-up, initiated and led the Commission’s post-hearing policy and enforcement projects, including the drafting and release of the first joint Department of Justice and Federal Trade Commission Vertical Merger Guidelines and the drafting of the Federal Trade Commission’s Commentary on Vertical Merger Enforcement. He also initiated and led a first-of-its-kind inquiry into the acquisition activity of Alphabet/Google, Amazon, Apple, Facebook/Meta and Microsoft, for purposes of considering revisions to FTC policy and enforcement efforts with respect to transactions not subject to the reporting and waiting period requirements of the HSR Act. Bilal previously served as an Attorney Advisor to FTC Chairman Timothy J. Muris from 2001 to 2004. In that role, Bilal advised the Chairman on matters involving a wide spectrum of industries, including chemical and mining, petroleum and natural gas, health care and pharmaceutical, defense and transportation, gaming, various consumer products and retail operations, and professional associations and standard-setting organizations.

Bilal has taught antitrust and competition law at the George Mason University School of Law since 2011. Prior to his government service, he was recognized by The Best Lawyers in America, Chambers, Legal 500, and Super Lawyers.

Bilal received his B.A. from Case Western Reserve University, and a J.D. from George Mason University School of Law. He is admitted to practice in the District of Columbia and the State of New York, as well as before the U.S. District Courts for the District of Colorado and the District of Columbia, the U.S. Court of Appeals for the District of Columbia Circuit, the Fifth Circuit, the Ninth Circuit, and the U.S. Supreme Court.

Bilal is the host of Rethinking Antitrust, a podcast published by TechFreedom that examines the economics, institutions, law, legislation, and policy goals of antitrust enforcement

Advises in the securities law, regulatory and compliance and shareholder activism areas.

Adriana counsels clients on a broad range of issues, including in the regulatory areas of Sections 13 and 16, Rule 144, insider trading, Regulation SHO order marking and Regulation M/Rule 105.

She also represents clients in private investments in public and private companies, including private investments in public equity (PIPEs), registered direct offerings, convertible 144A offerings, special-purpose acquisition companies (SPACs) and Regulation S offerings.

David Faber, an award-winning journalist and New York Times best-selling author, is a co-anchor of CNBC's "Squawk on the Street" (M-F, 9AM-11AM ET) and an anchor and co-producer of CNBC's acclaimed original documentaries and long-form programming. During the day, Faber breaks news and provides in-depth analysis on a range of business topics during the "Faber Report." In his more than two decades with CNBC, Faber has broken many big financial stories, including Disney's deal to buy most of Twenty-First Century Fox's assets, the massive fraud at WorldCom and Rupert Murdoch's unsolicited bid for Dow Jones. Faber has reported 10 documentaries for CNBC for which he has received Loeb, Emmy, Peabody and duPont awards. His book "The Faber Report" was published by Little, Brown in spring 2002; his second book, "And Then the Roof Caved In," was published in the summer of 2009 by John Wiley. He holds a bachelor's degree in English from Tufts University.

Greg Brown is chairman and chief executive officer of Motorola Solutions. Brown is in his 17th year as CEO of Motorola and Motorola Solutions. Under Brown's tenure at Motorola Solutions, he is credited for the reinvention of Motorola, transforming this former iconic American company into a leader of public safety and enterprise security. Brown has led the company through challenging financial circumstances, the agitation of investor activists and an environment of constant change and uncertainty.

Under Brown’s leadership, he has made over 40 acquisitions and the company has achieved total shareholder return of 1400%. Motorola Solutions has been named number one in its category on Fortune’s Most Admired list, named as one of America’s Best Employers for Diversity and one of the World’s Top Companies for Women by Forbes, as one of the World’s Best Companies by Time Magazine, named to Newsweek’s Most Trustworthy Companies, named to Investor’s Business Daily’s 100 Best ESG Companies, and is considered one of the World’s Most Innovative Companies by Fast Company.

Brown was Chairman & CEO of Micromuse. He also served as the Chairman of the Federal Reserve Bank of Chicago, Chairman of the Rutgers University Board of Governors and Midwest Chairman of the Navy Seal Foundation. He currently serves on the board of the 9-11 Memorial and Museum, as Co-Chair of The Prium and is also a member of the Council on Foreign Relations. Brown is also a member of the Pro Football Hall of Fame Advisory Board.

Brown was named as one of the top CEOs in America by Barrons in 2023. He has also received the Eisenhower Award from Business Executives for National Security. Brown has served two American presidents as part of President Obama's Management Advisory Board and President George W. Bush's National Security Telecommunications Advisory Committee.

Brown earned a bachelor's degree in economics and an honorary doctorate in humane letters from Rutgers University.

David (Dave) Deno was named Chief Executive Officer of Bloomin’ Brands and a member of the Board of Directors in March 2019 after serving as the company’s Chief Financial and Administrative Officer.

As CEO, he is responsible for developing and executing the company's long-term objectives, growth strategies, and initiatives for its portfolio of casual and fine-dining brands, which include Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, Fleming's Prime Steakhouse & Wine Bar, and Aussie Grill by Outback.
Previously, Dave was responsible for the company’s business analytics and global strategy, as well as all areas of financial planning and reporting for Bloomin’ Brands, including accounting services, corporate tax, treasury, and investor relations. His scope of responsibility also included global supply chain, development, and productivity.

He joined the company in 2012 from Best Buy, where he served as President of Asia and Chief Financial Officer for Best Buy International. His hospitality industry career has included more than 15 years in senior level operations and financial positions at PepsiCo/YUM Brands and eight years at Burger King.

In May of 2024, the company announced that Dave would be retiring after 12 years with the company, including the last five years as CEO and a member of the Board of Directors.

Dave earned an MBA from the University of Michigan and a bachelor’s degree in economics and political science from Macalester College.

Widely acknowledged nationally as preeminent in the shareholder activism arena, Andrew Freedman represents many of the most active and prominent activist investors and investment funds, as well as newly launched activist investment firms. A co-founder of Olshan's Shareholder Activism Practice, he now leads Olshan’s top-ranked global Shareholder Activism Group.

Leading activist hedge funds and investors choose Andy to guide them in their shareholder activism campaigns, proxy fights, 13D filings, hostile takeovers, corporate governance matters, and engagements with public company management and boards of directors. Private equity firms also seek his counsel regarding “toehold” stakes, PIPEs, M&A strategies, and transaction negotiations, including offer letters, diligence, NDAs, and regulatory issues.

Andy has represented investors in hundreds of high-stakes, high-profile shareholder activism campaigns in the U.S., Canada, Europe, and Asia, helping clients replace more than 1,000 directors on public company boards and strengthening corporate governance and accountability in the process. An out-of-the-box strategic thinker, Andy finds solutions.

Andy has achieved landmark, precedent-setting proxy contest victories, including Browning West's historic win in a recent proxy contest to replace the entire board at Canadian clothing maker Gildan Activewear, where Browning West's eight nominees were installed, and its former CEO and founder, Glenn Chamandy, was reinstated. He also represented first-time activist, Irenic Capital, earlier this year in its successful proxy campaign at Barnes Group Inc., a global provider of highly engineered products, differentiated industrial technologies, and innovative solutions. Additionally, Andy represented Hestia Capital in its proxy campaign at Pitney Bowes Inc., marking the first-ever control slate proxy contest to go to a vote under the SEC's new universal proxy card voting regime. He has delivered similarly successful results for activist investors such as Starboard Value LP, Elliott Investment Management, and Ancora Advisors.

Andy's skill in assessing the prospects for change and devising proxy campaign strategies gives clients a competitive edge regardless of campaign constraints. He is regularly praised as a tenacious adversary, a master strategist, and sophisticated in managing the myriad technical details of campaigns. A tactician of the highest order and aggressive in delivering results, Andy's talent and reputation lend credibility and power to campaigns, ultimately resulting in highly successful outcomes.

Andy is recognized as the #1 lawyer in Shareholder Activism, having been ranked by Chambers USA since 2017 and achieving a prestigious Band 1 ranking in 2024. The Legal 500 United States also ranks him as a Tier 1 Leading Lawyer in M&A/Corporate and Commercial: Shareholder Activism – Advice to Shareholders. In 2022, Business

Cristiano Guerra is the Head of ISS’ Special Situations Research team, which covers contested economic proposals and fights for corporate control. He previously led the US Research team, and prior to that the Latin America Research team, for ISS. In all these roles, he has actively engaged with issuers, shareholders, and other stakeholders regarding investor concerns, disclosure issues and specific governance topics relevant to institutional shareholders. Prior to joining ISS in 2009, he ran the global analyst team for TranSecur, a Washington D.C.-based private intelligence firm providing consulting services to multinational companies.

Jason McCandless heads the M&A and Contested Proxy team responsible for global M&A and activism research coverage as well as all special situation issuer and shareholder engagements. He has held this position since 2016 and joined the team in 2003. Jason holds a bachelor’s degree in economics from the University of California, Davis and a master’s degree in business from Santa Clara University.

Patrick Gadson’s principal areas of practice are private equity, mergers and acquisitions and shareholder activism. Patrick is Co-Head of V&E’s Shareholder Activism practice, which advises public companies in competitive proxy solicitations, strategic investor relations, and corporate governance. He also counsels senior management, boards of directors, investment managers and both private equity and strategic investors in a wide variety of complex business transactions, corporate governance matters, strategic investor relations and other special situations. His experience includes advising clients in connection with shareholder activism related investments, hostile takeovers, public and private M&A transactions, strategic minority investments and corporate capital investments.

Jonathan Salzberger is a Managing Director of Innisfree M&A Incorporated. Mr. Salzberger advises companies and investors on shareholder engagement, corporate governance, executive compensation, activism and proxy solicitation, with an emphasis on merger solicitations and proxy contests.

Recent representative situations he has worked on include: Tesla in connection with its shareholder ratification of Elon Musk’s compensation and approval of its reincorporation to Texas; Starbucks in its proxy contest against Strategic Organizing Center; Wyndham Hotels & Resorts in its successful defense against Choice Hotels; WisdomTree in its two proxy contests against ETFS Capital; Seagen in its acquisition by Pfizer; Marathon Oil in its acquisition by ConocoPhillips; and Emerson Electric in its successful bid for National Instruments.

Mr. Salzberger also participates in several investor- and corporate governance-focused organizations, including as a former member of the Council of Institutional Investors’ (CII) Markets Advisory Council, and has spoken on numerous panels, including at the Society for Corporate Governance National Conference.

Prior to joining Innisfree, Mr. Salzberger was an M&A attorney with Sullivan & Cromwell LLP.

Mr. Salzberger earned B.A. degrees in Economics and History, summa cum laude, from New York University, and a J.D. from the New York University School of Law, where he was the Editor-in-Chief of the NYU Journal of Law and Business.

Lex serves as CEO of Edelman Smithfield, a financial communications boutique within Edelman that specializes in activism defense, M&A and capital markets transactions, restructuring, and IR as well as communications support for the investment community. Lex personally focuses on advising Boards and management teams on strategic communications programs during high pressure and transformational situations.

During a two-decade career in the industry, Lex has advised on some of the most high-profile corporate transactions, proxy fights, IPOs and crisis situations. Lex has provided counsel to companies across industries through all stages of activism defense involving the full range of activist investors including Elliott Management, Starboard, Ichan Associates, JANA, Third Point, Trian, ValueAct, Engaged, Engine, D.E. Shaw, Barington, and Pershing Square, among others. Lex has a particular passion for helping companies ensure their plan is best positioned to create shareholder value, and helping companies communicate that plan in a compelling manner.

Leveraging Edelman’s breadth of services, Lex has led hundreds of transaction assignments that deploy fully integrated communications campaigns to win support from all stakeholders. He has also advised dozens of Boards on positioning strategy for CEO transitions, crisis situations, independent investigations, and other issues that impact investor trust.

Lex is a frequent speaker and author on reputation strategy, IR best practices and governance trends. Prior to joining Edelman Smithfield, Lex was a Managing Director at Abernathy MacGregor. Lex has an MBA from Harvard Business School and an AB from Harvard College.

Scott is the managing partner and portfolio manager of Sachem Head Capital Management, a value-oriented investment management firm based in New York. Prior to starting Sachem Head in 2012, he spent nine years at Pershing Square Capital Management, which he joined at its inception in 2003. Prior to Pershing Square, Scott earned an M.B.A. from Harvard Business School in 2003 and was a vice president at American Industrial Partners, private equity firm, from 1999 to 2001. Scott was also a business analyst at McKinsey & Company from 1996 to 1999. Scott graduated from Stanford University with an A.B. in Public Policy in 1996. He currently serves on the Supervisory Board of Delivery Hero SE, a leading global food delivery company, and was formerly on the boards of Olin Corporation, Elanco Animal Health, Autodesk and US Foods Holdings Corp. He currently serves on the board of directors of the Henry Street Settlement and is also a member of the Robin Hood Leadership Council. He lives in New York with his wife and three children.

Keith Meister is Managing Partner and Chief Investment Officer of Corvex Management LP, which he founded in December 2010.

Prior to founding Corvex, Mr. Meister served as Chief Executive Officer and then Principal Executive Officer and Vice Chairman of the Board of Icahn Enterprises from August 2003 to August 2010. From their launch in November 2004 to August 2010, Mr. Meister also served as Senior Managing Director of the General Partners of Icahn Partners LP and affiliated funds. Prior to joining the Icahn Organization, Mr. Meister served as Co‐President of J Net Ventures from January 2000 through September 2001. Prior to launching J Net Ventures, Mr. Meister worked at NorthStar Capital and Lazard Freres.

Mr. Meister currently serves on the board of directors for MGM Resorts, Bet MGM, and GeneDX. He has previously served as a director on numerous other public boards including Yum! Brands, Inc., The Williams Companies, The ADT Corporation, Ralcorp Holdings, and Motorola/Motorola Mobility, among others. He is also Chairman of the board of directors for Harlem Children’s Zone and a member of the board of trustees for the American Museum of Natural History.

Mr. Meister received an A.B. in government, cum laude, from Harvard College in 1995.

Chris Young joined Jefferies in 2018 as a Managing Director and Global Head of the Contested Situations Advisory Team. He is responsible for takeover defense, contested M&A transactions, shareholder activism and corporate governance matters.

Prior to joining Jefferies, Mr. Young was a Managing Director and Head of the Takeover Defense Practice at Credit Suisse. Mr. Young joined Credit Suisse in June 2010 from Institutional Shareholder Services (ISS) where he was Director of M&A and Proxy Fight Research. Prior to ISS, Mr. Young was an investment banker at Bear Stearns, an M&A lawyer at Sullivan & Cromwell and a derivatives trader at Sumitomo Bank, all in New York.

At ISS, Mr. Young advised institutional investors on hundreds of contested M&A transactions and shareholder activist campaigns, including hedge fund-led proxy fights for board seats at Heinz, CSX Corp., Target Corp., Motorola, Yahoo, H&R Block, Atos Origin, Tui, and Biogen, as well as hostile bids including Exelon for NRG, Agrium for CF Industries, CF Industries for Terra Industries, BASF for Engelhard, and contested M&A transactions including the aborted Cablevision buyout, Lilly-ICOS, Caremark-CVS-Express Scripts, the Clear Channel and TXU buyouts, Biomet, Lear, and Genentech.

Mr. Young received a BS in foreign service from Georgetown University's School of Foreign Service and a JD, magna cum laude, from Boston University School of Law. He is also a CFA charter holder.

Glenn Booraem is a principal at Vanguard and leads the firm’s Investment Stewardship Research & Policy efforts within the Office of the General Counsel. Glenn joined Vanguard in 1989 and has served in senior leadership roles supporting the Vanguard-advised funds’ investment stewardship activities for more than 20 years. He has previously served as the controller and treasurer for each of the Vanguard funds. In addition to engaging with the Vanguard-advised funds’ portfolio companies and serving as a frequent speaker on corporate governance matters, Glenn has also represented Vanguard and its investors through governance working groups convened by, among others, the New York Stock Exchange, the Conference Board, and the National Association of Corporate Directors (NACD).

Glenn currently serves as the Industry Chair of the Raj & Kamla Gupta Governance Institute at Drexel University’s LeBow College of Business, a member of the Advisory Board to the Ira M. Millstein Center for Global Markets and Corporate Ownership at Columbia Law School, a member of the board of the Philadelphia Chapter of the NACD, and a member of the Vickie & Jack Farber Institute of Neuroscience Campaign Committee at Jefferson Health.

He is a graduate of Temple University and the Advanced Management Program at Harvard Business School.

Vincent DeAugustino is the lead portfolio manager for the Mid-Cap Value Equity Strategy in the U.S. Equity Division. Prior to this, he was an associate portfolio manager for the Mid-Cap Value Equity Strategy. Before that, he was an investment analyst on the financial services team covering banks, specialty finance and diversified financial companies. He is also a member of the Investment Advisory Committees of the Financial Services Equity, US Large-Cap Value Equity, and US Value Equity Strategies. Vincent is a vice president of T. Rowe Price Group, Inc.

His investment experience began in 2009, when he covered property and casualty insurance companies at Keefe, Bruyette & Woods and Stifel Nicolaus prior to their merger.

Vincent earned a master's degree in finance from Loyola University Maryland and a bachelor's degree in business administration, with a minor in economics, from McDaniel College. He also has earned the Chartered Financial Analyst® designation.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

Adam Katz is a co-founder and Chief Investment Officer of Irenic Capital Management. Previously, Mr. Katz was an Associate Portfolio Manager at Elliott Management where he focused on special situations including public equity activism, private equity, and distressed credit. Adam has extensive experience with multiple $1 billion+ public equity activist engagements. He holds an MBA from Harvard Business School, where he was a Baker Scholar, and a JD from Harvard Law School. He also received an AB in Government from Harvard University, where he graduated Magna Cum Laude with High Honors in Field.

Mr. Förberg is a Founding Partner of Cevian Capital and is based in Zurich. Mr. Förberg currently serves as a board director of ABB Ltd. He has served on the boards of 14 listed companies in multiple industries and countries. Prior to founding Cevian in 2002, Mr. Förberg was a senior member of the management team (and ultimately Chief Investment Officer) of Custos AB, an industrial investment holding company listed on the Stockholm Stock Exchange. From 1990 to 1997, Mr. Förberg was Investment Manager and partner at Nordic Capital, a leading Nordic private equity firm. Mr. Förberg holds a degree in Economics and Business Administration from the Stockholm School of Economics, including studies at the University of Michigan.