Company: ZVRA
Filing Date: 2025-04-21
Form Type: DEFA14A
Source: 0001193125-25-086311
Chunk: 2

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-04-21
Form: DEFA14A
Chunk 2
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. Mangless is now actively seeking two additional Board seats without providing any clear strategy or explanation of what he intends to accomplish or how he proposes to increase stockholder value. If                            
 Mr. Mangless’ two nominees are elected this year, his nominees would have five Board seats in total, representing a majority of the Board. This latest attempt raises questions about the amount of undue influence one stockholder        
 should have on the Board. In his own proxy filing, Mr. Mangless acknowledges that if his two nominees are elected, the five nominees that he will have added to the Board “will potentially be able to implement any actions that they may 
 believe are necessary...”                                                                                                                                                                                                                  |

| • |     | Mr. Mangless has not disclosed any specific strategies, plans, or new ideas to improve                                                                                                                                                
 Zevra’s business – in fact, he has expressed agreement with the recent actions that Zevra has taken, including the onboarding of Zevra’s current leadership, yet he still appears focused on replacing two highly-qualified directors 
 with his nominees who lack the necessary expertise, independence, and proper business judgment and acumen to serve Zevra’s stockholders effectively. Mr. Mangless’ nominees are a proxy solicitor with no relevant Board or industry  
 experience, and a former CEO, both of whom have previously destroyed significant stockholder value. The Zevra Board believes that adding his nominees will put stockholders‘ investments in Zevra at risk.                            |

| • |     | Mr. Mangless’ nominees, Arthur Regan and Dr. Travis Mickle, have track records of destroying                                                                                                                
 stockholder value in public company leadership roles. During Regan’s tenure as a director at US Wats, US Wats’ stock price fell 63.9%. While Dr. Mickle was CEO of Zevra, its stock price plummeted 97.4%.1 |

Zevra’s letter to stockholders and other materials regarding the Board’s recommendation for the 2025 Annual Meeting can be found on the Company’s investor relations website at investors.zevra.com/. The full text of the letter follows: Dear Fellow Stockholders, The Zevra Board of Directors and management team have taken decisive action over the past two years, transforming the Company and driving significant stockholder value creation. This transformation began in October 2023, when your Board appointed Neil McFarlane as President and CEO of Zevra, following a thorough process to find the right leader to accelerate Zevra