Company: TBPH
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001104659-25-033819
Chunk: 38

Company: Theravance Biopharma, Inc.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 38
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ate governance committee to assess the impact of the director joining additional boards within the context of a specific situation, including all public company leadership roles and outside commitments. In addition, our nominating/ corporate governance committee reviews on a regular basis each director’s ability to be sufficiently committed to our board. When determining whether to allow the continued service of a director who serves on more than four boards of directors of publicly traded companies, or two such boards of directors in the case of a director who is the CEO, or who significantly changes their principal occupation or the role, position or areas of responsibility that they hold, our nominating/corporate governance committee considers, among other things, the director’s attendance and preparation for our board and committee meetings, the director’s availability for meetings with other board members and management in addition to regularly scheduled board and committee meetings, and the quality of the director’s contribution to board and committee discussion and decision-making. All of our directors currently meet the requirements of our Corporate Governance Guidelines’ regarding multiple board seats. Shareholder Engagement In 2024, members of management and/or our board of directors met with investors that, as of December 31, 2024, held a majority of our outstanding ordinary shares (excluding shares held by former and current directors and officers). In these meetings, we discussed our current goals, priorities, and strategy, capital allocation philosophy, our corporate governance, including our recent decision to separate the roles of chief executive officer and chair of the board of directors and appoint Susannah Gray as the new chair of the board of directions; and we sought further investor feedback and perspective. Management provided summaries of comments received to our board of directors for discussion. Cooperation Agreement with Shareholder Irenic Capital Management On December 21, 2023, we entered into a cooperation agreement (the “Cooperation Agreement”) with Irenic Capital Management LP and certain of its affiliates (collectively “Irenic”). Pursuant to the Cooperation Agreement, we increased the size of our board of directors by one and approved the appointment of Mr. Grant as a Class II director of the board of directors, with a term expiring at this Annual Meeting. In 2024, we and Irenic agreed to extend the Cooperation Agreement and we nominated Mr. Grant to continue as a Class II director of the board of directors, with a term expiring at our 2026 annual general meeting of shareholders. The Cooperation Agreement includes certain voting commitments, standstill, and mutual non-disparagement provisions that now remain in place until the