For the past several years, we have opposed the reelection of directors to signal our concerns with respect to the Company’s decision to not implement majority-approved shareholder proposals. Since 2020, we’ve disclosed these concerns along with our vote intentions ahead of the company’s annual meetings through our NB Votes initiative. This year, in response to shareholder feedback, management is putting forth proposals at its annual meeting to (i) amend its charter and bylaws to declassify the board over a three-year period, (ii) adopt simple majority vote requirements, and (iii) provide shareholders the right to call special meetings at a threshold of 20% of outstanding shares. For these reasons, we intend to vote for these proposals to signal our support for the company’s responsiveness to shareholder feedback through these positive governance improvements. Read more about our vote rationale at NB Votes.