Hudson Executive Capital reduced its stake after reaching agreement with eHealth
Key summary: In Mar 2021, eHealth reached agreement with Hudson Executive Capital. In May 2021, Starboard secured a board seat thro' agreementMarket Cap: $274 million | eHealth, Inc. provides a private online source of health insurance for individuals, families and small businesses.
Background:
Hudson Executive Capital
On February 19, 2021, Hudson Executive Capital disclosed a 5.8% active stake and stated that it had and may continue to have discussions with the company’s management and board to discuss the company’s business, strategies and corporate governance.
On March 11, 2021, the company announced that it had reached an agreement with Hudson Executive Capital to immediately appoint one new director and to engage in a process to mutually agree upon a second director in the next 45 days.
On March 11, 2022, Hudson Executive Capital reduced its stake to 2.8%.
Starboard
On March 11, 2021, Starboard (6.9%) delivered a letter to the company nominating a slate of four director candidates for election to the board at the 2021 AGM.
On May 12, 2021, Starboard entered into an agreement with the company and secured a board seat.
On January 7, 2022, Starboard increased its stake to 8.5%.