Company: MTCH
Filing Date: 2025-04-16
Form Type: PREC14A
Source: 0000902664-25-001820
Chunk: 10

Company: Match Group, Inc.
Filing Date: 2025-04-16
Form: PREC14A
Chunk 10
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-term guidance below consensus expectations; the Company’s shares declined
7.5% from the close of trading on December 10, 2024 through the close of trading on December 12, 2024. The Company also announced the
initiation of a dividend and a new share buyback authorization. Mr. Gupta attended the Investor Day event in person and met informally
with Messrs. Kim, McInerney, and Spoon, Ms. McDaniel, Chief Legal Officer Sean Edgett (“Mr. Edgett”), CEO of Tinder Faye Iosotaluno,
CEO of MG Asia Malgosia Green (“Ms. Green”) and Chief Technology Officer Will Wu. Mr. Kim thanked Mr. Gupta for his recommendations,
acknowledging that many were incorporated into the Company’s strategy presented during the Investor Day. Separately, in conversation
with Mr. Edgett and Ms. Green, Mr. Gupta expressed disappointment at the Company’s lack of strategic justification for maintaining
ownership of MG Asia’s assets. Ms. Green acknowledged this feedback as a credible concern.

On February 4, 2025, the Company announced the
appointment of Mr. Rascoff as CEO and the concurrent departure of Mr. Kim from the Company and Board. In addition, the Company announced
Q4 2024 financial results and issued Q1 and fiscal year 2025 guidance below consensus expectations; the Company’s shares declined
7.9% during the subsequent trading session.

On February 14, 2025, Mr. Gupta met virtually
with Mr. McInerney to reiterate his desire to collaborate on Board refreshment and the need for the Board to adopt best-in-class governance
policies, including a declassification of the Board. Mr. Gupta also expressed concern around the abrupt change in CEO, and that the Board
has now appointed a fourth CEO in five years with limited success in reversing long-term underperformance. Mr. Gupta informed Mr. McInerney
that Anson Funds had contracted a third-party executive search firm to identify several highly-qualified independent director candidates
for the Board’s consideration, in addition to Mr. Gupta’s own candidacy. Mr. McInerney expressed doubt as to whether an independent
stockholder would be able to better identify qualified director candidates as compared to the Board’s own efforts, to which Mr.
Gupta responded that high-quality director candidates can come from any source. Mr. Gupta implored Mr. McInerney multiple times to consider