Company: SSUP
Filing Date: 2025-07-30
Form Type: PREM14A
Source: 0001140361-25-027895
Chunk: 58

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-07-30
Form: PREM14A
Chunk 58
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 | the Board (i) approved and declared advisable the Merger Agreement, the execution, delivery and performance thereof and the consummation of the Transactions, including the Merger, upon the terms and subject to the conditions set forth in the Merger Agreement; (ii) determined that the Merger is in the best interests of the Company and its stockholders; (iii) directed that the Merger Agreement be submitted to the stockholders of the Company for adoption; and (iv) resolved to recommend that the stockholders of the Company vote to adopt the Merger Agreement. |

The Board recommends that you vote (i) “ FOR” the Merger Agreement Proposal, (ii) “ FOR” the Merger-Related Compensation Proposal and (iii) “ FOR” the Adjournment Proposal. In evaluating the Merger, the Transaction Committee and the Board each consulted with the Company’s financial and legal advisors, as well as the Company’s management team, and considered a number of factors that supported their respective decisions to approve the Merger Agreement (not necessarily in order of relative importance) and the Merger, including the following:

| • | Consideration. The Transaction Committee and the Board considered the fact that the Transactions provide, in the view of both the Transaction Committee and the Board, (a) the highest consideration payable to the Company’s stockholders that was reasonably obtainable and (b) a price per Common Share that was unlikely to be achieved on a standalone basis given the Company’s financial condition and liquidity position. |

| • | Avoidance of Chapter 11. The Transaction Committee and the Board considered (i) a filing under chapter 11 of the Bankruptcy Code would likely result in no recovery to holders of Common Shares and holders of Preferred Shares and the Company’s creditors’ claims being impaired, as compared to an out-of-court transaction, which would likely result in greater value to the equityholders and creditors of the Company than a filing under chapter 11 of the Bankruptcy Code, and (ii) management’s belief that the Company would be unlikely to obtain new orders from customers in the preparation for and pendency of a bankruptcy, given the uncertainty and business disruption that can result from such a process. |

| • | Potential Interested Counterparties. The Transaction Committee and the Board considered that, from January to April 2025, at the direction of the Company, Lazard engaged with 38 potential |

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counterparties with respect to a third party sale process and that, although the