PENN Entertainment Confirms Receipt of Director Nominations
PENN Entertainment (Nasdaq: PENN) has confirmed receiving notice from HG Vora Capital Management nominating three director candidates for election to PENN's Board of Directors at the 2025 Annual Meeting of Shareholders. The company stated its Board and management team remain committed to creating long-term value for shareholders and will continue engaging with the investment community regarding strategy and performance.
The Board's Nominating and Corporate Governance Committee will review HG Vora's proposed nominees following standard evaluation procedures. PENN will present its formal recommendation in proxy materials to be filed with the SEC before the 2025 Annual Meeting. Goldman Sachs & Co. is serving as financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel.
PENN Entertainment (Nasdaq: PENN) ha confermato di aver ricevuto una comunicazione da HG Vora Capital Management che nomina tre candidati per il consiglio di amministrazione in occasione dell'Assemblea annuale degli azionisti del 2025. L'azienda ha dichiarato che il suo consiglio e il team di gestione rimangono impegnati a creare valore a lungo termine per gli azionisti e continueranno a interagire con la comunità degli investitori riguardo a strategie e performance.
Il Comitato per la Nomina e la Governance Aziendale del Consiglio esaminerà i candidati proposti da HG Vora seguendo le procedure di valutazione standard. PENN presenterà la sua raccomandazione formale nei documenti proxy che saranno depositati presso la SEC prima dell'Assemblea annuale del 2025. Goldman Sachs & Co. funge da consulente finanziario e Wachtell, Lipton, Rosen & Katz come consulente legale.
PENN Entertainment (Nasdaq: PENN) ha confirmado haber recibido un aviso de HG Vora Capital Management que nomina a tres candidatos a directores para la elección en la Junta Directiva de PENN en la Junta Anual de Accionistas de 2025. La compañía declaró que su Junta y el equipo de gestión siguen comprometidos a crear valor a largo plazo para los accionistas y continuarán interactuando con la comunidad inversora sobre estrategia y rendimiento.
El Comité de Nominaciones y Gobernanza Corporativa del Consejo revisará los candidatos propuestos por HG Vora siguiendo los procedimientos de evaluación estándar. PENN presentará su recomendación formal en los materiales de apoderamiento que se presentarán a la SEC antes de la Junta Anual de 2025. Goldman Sachs & Co. actúa como asesor financiero y Wachtell, Lipton, Rosen & Katz como asesor legal.
PENN Entertainment (Nasdaq: PENN)는 HG Vora Capital Management가 2025년 주주 총회에서 PENN의 이사회 후보로 세 명을 지명했다는 통지를 받았다고 확인했습니다. 회사는 이사회와 경영팀이 주주를 위한 장기 가치를 창출하는 데 전념하고 있으며, 전략 및 성과와 관련하여 투자 커뮤니티와 지속적으로 소통할 것이라고 밝혔습니다.
이사회의 후보 추천 및 기업 거버넌스 위원회는 HG Vora가 제안한 후보를 표준 평가 절차에 따라 검토할 것입니다. PENN은 2025년 주주 총회 전에 SEC에 제출할 위임장 자료에서 공식 권고를 발표할 것입니다. Goldman Sachs & Co.는 재무 고문 역할을 하고 있으며, Wachtell, Lipton, Rosen & Katz는 법률 고문으로 활동하고 있습니다.
PENN Entertainment (Nasdaq: PENN) a confirmé avoir reçu un avis de HG Vora Capital Management nommant trois candidats au conseil d'administration de PENN lors de l'Assemblée générale des actionnaires de 2025. La société a déclaré que son conseil et son équipe de direction restent engagés à créer de la valeur à long terme pour les actionnaires et continueront de dialoguer avec la communauté d'investissement sur la stratégie et la performance.
Le Comité de nomination et de gouvernance d'entreprise du conseil examinera les candidats proposés par HG Vora selon les procédures d'évaluation standard. PENN présentera sa recommandation formelle dans les documents de procuration qui seront déposés auprès de la SEC avant l'Assemblée générale de 2025. Goldman Sachs & Co. agit en tant que conseiller financier et Wachtell, Lipton, Rosen & Katz en tant que conseiller juridique.
PENN Entertainment (Nasdaq: PENN) hat bestätigt, dass es eine Mitteilung von HG Vora Capital Management erhalten hat, die drei Kandidaten für die Wahl in den Vorstand von PENN bei der Jahreshauptversammlung der Aktionäre 2025 nominiert. Das Unternehmen erklärte, dass sein Vorstand und das Management-Team sich nach wie vor verpflichtet fühlen, langfristigen Wert für die Aktionäre zu schaffen, und weiterhin mit der Investmentgemeinschaft über Strategie und Leistung kommunizieren werden.
Das Nominierungs- und Corporate Governance-Komitee des Vorstands wird die von HG Vora vorgeschlagenen Kandidaten gemäß den üblichen Bewertungsverfahren überprüfen. PENN wird seine formelle Empfehlung in den für die SEC einzureichenden Stimmrechtsunterlagen vor der Jahreshauptversammlung 2025 präsentieren. Goldman Sachs & Co. dient als Finanzberater und Wachtell, Lipton, Rosen & Katz als Rechtsbeistand.
- None.
- Potential proxy contest with activist investor HG Vora Capital Management
- Board facing external pressure for changes in corporate governance
No Shareholder Action Required at This Time
The PENN Board and management team are committed to creating long-term value for all shareholders and will continue to take actions to achieve that objective. We regularly solicit feedback and engage with the investment community about our strategy, performance and business priorities. The Board’s Nominating and Corporate Governance Committee will carefully review HG Vora’s proposed director nominees, in line with PENN’s normal evaluation procedures, and present its formal recommendation regarding the election of directors in the Company’s proxy materials, which will be filed with the
The 2025 Annual Meeting has not yet been scheduled, and PENN shareholders are not required to take any action at this time.
Goldman Sachs & Co. LLC is serving as PENN’s financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal counsel.
About PENN Entertainment
PENN Entertainment, Inc., together with its subsidiaries (“PENN,” or the “Company”), is North America’s leading provider of integrated entertainment, sports content, and casino gaming experiences. PENN operates in 28 jurisdictions throughout
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “expects,” “believes,” “estimates,” “projects,” “intends,” “plans,” “goal,” “seeks,” “may,” “will,” “should,” “look forward to,” or “anticipates” or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results, or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in the Company’s filings with the
Important Additional Information Regarding Proxy Solicitation
PENN intends to file a proxy statement and WHITE proxy card with the SEC in connection with the solicitation of proxies for the Company’s 2025 Annual Meeting of shareholders (the “Proxy Statement” and such meeting, the “2025 Annual Meeting”). The Company, its directors and certain of its executive officers will be deemed participants in the solicitation of proxies from shareholders in respect of the 2025 Annual Meeting. Information regarding the names of the Company’s directors and executive officers and their respective interests in the Company by security holdings or otherwise is set forth in the Company’s proxy statement for the 2024 Annual Meeting of shareholders, filed with the SEC on April 23, 2024 (the “2024 Proxy Statement”), which is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/0000921738/000114036124021379/ny20018854x1_def14a.htm, including under the headings “Proposal 1: Election of Class I Directors,” “Corporate Governance Matters,” “Director Compensation,” “Security Ownership of Certain Beneficial Owners and Management,” “Executive Compensation,” “Compensation Tables and Arrangements” and “Pay Versus Performance.” To the extent holdings of such participants in the Company’s securities have changed since the amounts described in the 2024 Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC, by David A. Handler on May 8, 2024, by Felicia Hendrix on May 8, 2024, by Anuj Dhanda on May 8, 2024, by David A. Handler on May 31, 2024, by Jay A. Snowden on September 3, 2024, by Anuj Dhanda on September 9, 2024, by David A. Handler on September 12, 2024, by Barbara Shattuck Kohn on January 7, 2025, by Christopher Rogers on January 7, 2025, by David A. Handler on January 7, 2025, by Anuj Dhanda on January 7, 2025, by Marla Kaplowitz on January 7, 2025, by Felicia Hendrix on January 7, 2025, by Ronald J.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250129519635/en/
Investors:
Joseph N. Jaffoni, Richard Land
JCIR
212-835-8500 or penn@jcir.com
Media:
Matt Sherman / Aura Reinhard / Sophie Throsby / Maeve Barbour
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
Source: PENN Entertainment, Inc.
FAQ
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