Company: NGVT
Filing Date: 2025-03-20
Form Type: DEFA14A
Source: 0001140361-25-009731
Chunk: 4

Company: Ingevity Corp
Filing Date: 2025-03-20
Form: DEFA14A
Chunk 4
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 with them to identify a director with the expertise necessary to oversee our business and strategy and to most effectively serve our stockholders. We also invited Vision One to present to our Board. Vision One rejected our offers to present to the Board and insisted we appoint its candidates to the Board or face a proxy fight, and ultimately launched their campaign. Following our appointment of Mr. Li, we again reached out to Vision One to reiterate our settlement proposal. Mr. Mather insisted instead that the only acceptable solution was the appointment of one of the Vision One insiders. The Board concluded that such an appointment would not be in the best interests of all Ingevity stockholders. 6 Vision One has since reduced its slate to two nominees, Julio Acero, age 34, who works for Mr. Mather at Vision One as an investment analyst and director, and F. David Segal, age 55, who was previously a vice president at International Paper and portfolio manager at Franklin Mutual. Neither candidate has served as a public company director or a senior executive of a publicly-traded company and neither has experience in the specialty chemicals industry. The Board also determined through interviews and its established director nominee review process, that both Mr. Acero and Mr. Segal do not have meaningful operating, capital allocation or portfolio management experience in public company senior roles that would supplement the skills of the current Board.

2From appointment on Jan 1, 2015 to Jul 5, 2022, the last trading day prior to the close of sale to Entegris 3From Fiscal Year 2014 to Q2 Fiscal Year 2022 LTM 4Premium at announcement over CMC Materials closing stock price as of Dec 14, 2021, day before announcement of Entegris acquisition 5Permission to use quotes neither sought nor obtained 6Additional details regarding Ingevity’s engagement with Vision One is described in a previous letter to Ingevity stockholders (https://www.ingevity.com/news/press-releases/ingevity-highlights-significant-momentum-on-actions-underway-to-drive-improved-performance-and-value-creation/) and in the Company’s definitive proxy statement filed with the SEC In support of its campaign, Vision One predicates its attacks in part on director “entrenchment”. However, our Board is committed to refreshment, as three new independent directors have been added in the last three years, the average director tenure is less than six years and not a single Ingevity director has been on