Key Summary: Rubric Capital nominated Board candidates to Xperi Inc. At the AGM held on May 24, 2024, directors nominated by Rubric Capital were not elected by the shareholders. On June 11, 2024, Rubric Capital (9.2%) expressed deep concern over the company’s ongoing poor stock performanceMarket Cap: $352 million | Xperi Inc. provides software and services in the United States.
On January 22, 2024, Rubric Capital (7.6%) delivered a letter to the company nominating Deborah S. Conrad and Thomas A. Lacey for election to the Board at the 2024 AGM. Source
On March 8, 2024, Rubric Capital filed proxy materials seeking support for its nominees. Source
On April 2, 2024, Rubric Capital filed proxy materials seeking support for its nominees.
On April 17, 2024, Rubric Capital filed proxy materials seeking support for its nominees.
On April 29, 2024, Rubric Capital issued an Investor Presentation titled “Accountability, Alignment, and Action at Xperi”.
On May 1, 2024, Rubric Capital responded to Xperi Inc.'s investor presentation, criticizing the board's disregard for shareholders. They highlighted flaws in Xperi's performance metrics, share repurchase program, and dilution portrayal. Rubric emphasized discrepancies in executive compensation and investment disclosures, accusing Xperi of misleading investors. They asserted their nominees' commitment to shareholder value and urge support for them to restore accountability to Xperi's board. Source
At the AGM held on May 24, 2024, directors nominated by Rubric Capital were not elected by the shareholders.
On June 11, 2024, Rubric Capital (9.2%) expressed deep concerns over the company’s ongoing poor stock performance. They intended to continue monitoring the company’s performance and did not hesitate to take any action that they believed was necessary to protect the best interests of stockholders. Source
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