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Michael Porcelain nominated director candidates to Comtech Telecommunications Corp (CMTL)

Key Summary: On September 13, 2024, Michael Porcelain nominated a slate of eight director candidates, including himself, for election to the Board at the 2024 annual meeting of stockholders. On September 8, 2021, Outerbridge Capital nominated three independent candidates for the Comtech Board to enhance shareholder value. Following a $100 million investment on October 18, Outerbridge secured a cooperation agreement on December 16, aligning on board appointments and strategies.

Market Cap: $128 million| Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions in the United States and internationally.


Michael Porcelain

  • On September 13, 2024, Michael Porcelain delivered a letter to the company nominating a slate of eight highly director candidates, including Mr. Porcelain, Keith Hall, Michael Hildebrandt, Fred Kornberg, Robert Schassler, Dr. Sanyogita Shamsunder, Oleg Timoshenko, and Jay Whitehurst for election to the Board at the 2024 annual meeting of stockholders. Source

  • On September 20, 2024, Michael Porcelain filed proxy materials seeking support for his nominees. He urged the Board to implement his recommendations, including transparent disclosures on leadership changes, a thorough CEO search, evaluation of strategic initiatives, and optimization of capital structure and financing. Additionally, he advocated for a strategic review of the 911 Public Safety business to maximize shareholder value, as well as improved operational efficiency and innovation. Source

Outerbridge Capital Management

On September 8, 2021, Outerbridge Capital Management, holding a 4.6% stake in Comtech, nominated three independent candidates for the Board at the 2021 AGM, aiming to enhance shareholder value through their strategic expertise in Comtech's core markets. On October 6, 2021, Outerbridge expressed concerns over leadership confidence and long-term underperformance, urging shareholder support for its nominees. Following a $100 million investment from White Hat Capital Partners LP and Magnetar Capital on October 18, 2021, Outerbridge advocated for a strategic review to maximize shareholder value. Outerbridge filed proxy materials on October 15 and continued engagement with Comtech, culminating in a cooperation agreement on December 16, 2021, aligning on board appointments and shareholder representation strategies.

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