Proxy Contest and Related Costs |
12 Months Ended |
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Dec. 31, 2020 | |
| Other Income and Expenses [Abstract] | |
| Proxy Contest and Related Costs | Proxy Contest and Related Costs During the six months ended June 30, 2020, the Company engaged in a proxy contest with Privet Fund Management, LLC ("Privet") and UPG Enterprises, LLC ("UPG"), which parties acted as a group during the proxy contest. At the Company’s Annual Meeting of Shareholders held on June 30, 2020 (the “Annual Meeting”), the Company’s independent shareholders voted the Company’s proxy card, resulting in five (of eight) incumbent Board members being re-elected to the Board of Directors. Due to cumulative voting, a unique voting method permitted by the Company’s Certificate of Incorporation, Privet and UPG were able to cumulate their group-owned shares to elect three (of eight) new directors at the Annual Meeting.
During the year ended December 31, 2020, total costs incurred by the Company relating to the proxy contest were $3.1 million.
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- References No definition available.
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- Definition The entire disclosure for other operating income and other operating expense items. No definition available.
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