Company: MTCH
Filing Date: 2025-04-16
Form Type: PREC14A
Source: 0000902664-25-001820
Chunk: 5

Company: Match Group, Inc.
Filing Date: 2025-04-16
Form: PREC14A
Chunk 5
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”) in product development, map-based features and services (including potential advertising partnerships), a corporate
strategy focused on a unified portfolio-based approach that can better enable cross-selling and a higher velocity of research & development
output through infrastructure consolidation, capital allocation focused primarily on capital returns to stockholders and a potential
exploration of strategic alternatives for non-strategic assets, including those within MG Asia. In addition, Mr. Gupta offered to assist
with preparations for a potential Investor Day event. Further, Mr. Gupta expressed support for Mr. Kim’s success and acknowledged
that the Company’s historical underperformance was largely due to former CEO and current director Shar Dubey’s subpar execution
and misguided capital allocation, and that stockholders expect Mr. Kim to reverse poor operating trends and the historical value destruction.
Mr. Gupta further expressed his belief that Mr. Kim’s strategy to first increase prices prior to delivering product improvements,
versus the opposite sequence, may have a negative impact on the timing of Company’s turnaround efforts. Mr. Gupta proceeded to express
disappointment in the Company’s defensive nature towards stockholder engagement and encouraged collaboration with stockholders to
address the issues discussed. Mr. Gupta reiterated his request to meet with the Board.

On February 27, 2024, Mr. Gupta met virtually
with Board Chairman Tom McInerney (“Mr. McInerney”). Mr. Gupta provided an overview of Anson Funds’ investment thesis
in the Company and summarized prior meetings with Messrs. Kim and Swidler. Mr. Gupta reiterated his past recommendations and offered additional
recommendations regarding the Company’s corporate governance and executive compensation practices to better improve long-term stockholder
alignment and performance, including a greater emphasis on performance-based elements and relevant operating metrics within the compensation
program, as well as a declassification of the Board. Mr. Gupta highlighted Institutional Investor Services’ (“ISS”)
recommendation against approval of the Company’s executive compensation plan at the 2023 annual meeting of stockholders and the
issues highlighted therein. In addition, Mr. Gupta recommended a collaborative approach towards Board refreshment, which he believed would
be well received by the broader stockholder base given the Company’s long-term underperformance. Mr. McInerney shared the Board’s
disagreement with past feedback received from proxy advisors and institutional stockholders regarding the Company’s executive compensation
plan, but that the Board would, seemingly reluctantly in our view, adjust the Company’s executive compensation practices going forward
to better align with this