Corporate GovernanceJul 31, 2026, 04:03 PM
NN Inc. Accelerates Director Stock Vesting; Legion Waives Rights
AI Summary
NN, Inc. and Legion Partners Asset Management, LLC entered into a letter agreement on July 29, 2026. This agreement accelerates the vesting of 49,079 restricted stock shares for former director Raymond T. White, who resigned on July 20, 2026. Additionally, Legion Partners irrevocably waived their right to appoint a replacement director under the previous Cooperation Agreement, thereby terminating NN Inc.'s obligations under Section 1 of that agreement.
Key Highlights
- NN, Inc. and Legion Partners Asset Management, LLC entered into a letter agreement on July 29, 2026.
- The agreement accelerates the vesting of 49,079 shares of restricted stock for former director Raymond T. White.
- Legion Partners irrevocably waived their replacement rights for a director under the Cooperation Agreement.
- The Company's obligations under Section 1 of the Cooperation Agreement are terminated.
- The original Cooperation Agreement was dated January 16, 2026.
Price Impact
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