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Stock Market & Financial Investment News

News For BGFV From The Last 14 Days
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December 18, 2014
16:40 EDTBGFVStadium Capital Management urges Big 5 Sporting to eliminate 'staggered board'
In a letter to the Big 5 Sporting board, shareholder Stadium Capital Management stated, "Rather than risk waiting nearly 18 months for reform, we are submitting a Rule 14a-8 stockholder proposal to the company urging the board to take all steps necessary to eliminate the company’s “staggered board” and require that all directors elected at or after the 2016 Annual Meeting be elected on an annual basis. Unfortunately, each stockholder is only permitted to submit one proposal per year. We chose to focus on board declassification and are confident that our fellow stockholders will agree with us regarding the urgency and merits of this particular proposal. We also believe that many of our fellow stockholders share our views about the need for substantial governance reform at the company, and therefore invite them to submit their own Rule 14a-8 stockholder proposals prior to the deadline of January 1, 2015. It is our sincere hope that the board will immediately undertake a comprehensive review of the company’s governance practices with the goal of making substantial improvements prior to the 2015 Annual Meeting, and obviate the need for any such proposals, ours included. Mr. DeMarco stands ready to be a constructive participant in that process."

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