Stilwell Activist Investments, L.P. Sent A Proposal Letter To The Corporate Secretary, Ms. Warren, Of If Bancorp, Inc.
$IROQ
BY EMAIL, HAND DELIVERY AND OVERNIGHT MAIL
IF Bancorp, Inc.
201 East Cherry Street
Watseka, Illinois 60970
Attn:Beth A. Warren, Corporate Secretary
Re:Submission of Proposal pursuant to Rule 14a-8 of the Securities Exchange Act of 1934, as amended, for the 2024 Annual Meeting of Stockholders of IF Bancorp, Inc.
Dear Ms. Warren:
Stilwell Activist Investments, L.P., a Delaware limited partnership (“Stilwell Activist Investments”), is submitting the proposal attached hereto as Exhibit A (the “Proposal”) pursuant to Rule 14a-8 (“Rule 14a-8”) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to be included in the proxy statement of IF Bancorp, Inc., a Maryland corporation (the “Company”), for its 2024 annual meeting of stockholders (including any postponements, adjournments, continuations or reschedulings thereof, or any other meeting held in lieu thereof, the “2024 Annual Meeting”).
As of the date hereof, Stilwell Activist Investments is the beneficial owner of 209,719 shares of the Company’s common stock, par value $0.01 per share (the “Shares”), including 100 Shares held in record name. As of the date hereof, Stilwell Activist Investments confirms that it (i) has continuously held at least $25,000 in market value of the Shares which are entitled to be voted on the Proposal, for at least one year, as evidenced by the letter from its broker Morgan Stanley, which is attached hereto as Exhibit B, and (ii) will continue to hold at least $25,000 in market value of the Shares through the date of the 2024 Annual Meeting.
Stilwell Activist Investments hereby confirms that it will be available to meet with the Company via teleconference no less than ten (10) calendar days, nor more than thirty (30) calendar days, after submission of the Proposal. Stilwell Activist Investments can be contacted at 111 Broadway, 12th Floor, New York, NY 10006, Attention: Megan Parisi, email mparisi@stilwellgroup.com and telephone (787) 985-2194. On behalf of Stilwell Activist Investments, I am available to meet with the Company to discuss the Proposal on the following dates and at the following times:
June 10, 2024 from 9 AM – 5:30 PM CDT
June 11, 2024 from 9 AM – 5:30 PM CDT
June 12, 2024 from 9 AM – 5:30 PM CDT
June 13, 2024 from 9 AM – 5:30 PM CDT
June 14, 2024 from 9 AM – 5:30 PM CDT
Should these times or dates not work for the Company, Stilwell Activist Investments is prepared to meet with the Company when it is available, and requests that the Company send dates and times it is available to meet, as necessary.
Stilwell Activist Investments’ representatives will appear in person or by proxy to present the Proposal at the 2024 Annual Meeting.
* * *
This notice is submitted in accordance with Rule 14a-8 under the Exchange Act. Stilwell Activist Investments will assume the Proposal will be included in the Company’s proxy material for the 2024 Annual Meeting unless advised otherwise in writing (with a copy to its counsel, Olshan Frome Wolosky LLP, 1325 Avenue of the Americas, New York, New York 10019, Attention: Meagan Reda, Esq., telephone (212) 451-2260, email: mreda@olshanlaw.com, facsimile (212) 451-2222).
Sincerely,
STILWELL ACTIVIST INVESTMENTS, L.P.
Source:
https://www.sec.gov/Archives/edgar/data/1113303/000092189524001335/sc13da110318025_05282024.htm