Scopia Capital Management Engages with Harmonic (HLIT) to Enhance Stockholder Value

Key Summary: In April 2021, Scopia Capital Management gained two board director appointments and agreed to support company nominees at the 2021 AGM. By August, Daniel Whalen joined the board. The agreement expired in March 2023. In September 2023 and April 2024, Scopia expressed intent to communicate with the board for shareholder value enhancement.

Market Cap: $1 billion | Harmonic Inc., together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide.

On April 26, 2024, Scopia Capital Management (5.4%) stated that it has engaged, and intends to continue to engage, in communications with the Board and management team regarding opportunities to enhance stockholder value. Source

Past

• In April 2021, Scopia Capital Management (9.6%) signed a cooperation agreement with the company, gaining the right to appoint two board directors. Scopia agreed to support the company's nominees at the 2021 AGM. By August, Daniel Whalen was elected to the board under this agreement. The Agreement expired as of March 20, 2023 and is no longer in effect.

• On September 21, 2023, Scopia Capital Management (5.1%) stated that it has engaged, and intends to continue to engage, in communications with the Board and management team regarding opportunities to enhance stockholder value. Source