PENN Entertainment Inc. is experiencing shareholder activism ahead of its upcoming Annual Meeting of Shareholders scheduled for June 17, 2025. The company has announced that leading independent proxy advisory firm Glass Lewis has recommended shareholders vote in favor of PENN's director nominees, Johnny Hartnett and Carlos Ruisanchez, using the company's WHITE proxy card. The recommendation follows an extensive review of the nominees proposed by HG Vora, a shareholder group, and highlights the qualifications and refreshed nature of PENN's Board. The report also notes the regulatory constraints of the gaming industry, which affected HG Vora's nomination process. With two board seats available, Glass Lewis supports the election of Hartnett and Ruisanchez, while a third nominee, William Clifford, is deemed ineligible due to recent board decisions. PENN emphasizes its commitment to shareholder interests and regulatory compliance, noting that 75% of its directors will have joined the board since 2019 after the meeting.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.