Company: NGVT
Filing Date: 2025-03-19
Form Type: PRER14A
Source: 0001308179-25-000166
Chunk: 11

Company: Ingevity Corp
Filing Date: 2025-03-19
Form: PRER14A
Chunk 11
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 a new, mutually agreed candidate to the Board whose profile better fits the present needs of the Company and the Board. On February 14, 2025, Ms. Blackwell contacted Mr. Mather by email to request a call to continue the discussions regarding Vision One’s interest in the Company and the Vision One Nominees. On February 14, 2025, Vision One filed a Form 13F with the SEC disclosing its holding of 410,648 Ingevity shares, which represented approximately 1.134% of the total outstanding shares of the Company as of December 31, 2024. On February 18, 2025, the Company reported its financial results for the fourth quarter and full year 2024, in which it beat certain consensus projections and announced, among other things, a record year in Performance Materials for both sales and EBITDA, with margins surpassing 50%, and significant savings as part of our Performance Chemicals repositioning actions. On the earnings call the following day, Mr. Fernandez-Moreno emphasized that the Company had been taking proactive steps to improve performance and enhance stockholder value, and that the Company and the Board remained focused on maximizing value for the Company’s stockholders. On February 19, 2025, representatives of the Company’s Investor Relations Team spoke with Vision One as part of its customary post-earnings call stockholder engagement. On February 20, 2025, Ms. Blackwell and Mr. Hoechner spoke with Mr. Mather by phone to inform them that the Board did not nominate the Vision One Nominees. In an effort to advance a constructive resolution with Vision One and deepen our engagement and dialogue, the Board extended an invitation to Vision One to share its perspectives on the Company directly with the Board in two weeks’ time. The Board also offered to work with Vision One to identify a mutually agreeable candidate to join the Board whose profile, skills and experience were better positioned to help the Company execute on its strategic plan and be most beneficial to the Company at this stage of its growth. Mr. Mather rejected the proposals outright without any further discussion or engagement and indicated that Vision One would be proceeding with a proxy contest. On February 25, 2025, Vision One publicly disclosed its engagement with the Company by filing proxy soliciting material with the SEC in the form of a presentation that disclosed its four director nominees and outlined its views and criticisms of the Company, and to which presentation it attached the November 26