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Glenbrook Calls on Tejon's Independent Directors to Act Now to Let Shareholders Call Special Meetings

On May 22, 2025, Glenbrook urged Tejon Ranch Co.'s independent directors to implement a shareholder proposal letting owners with 10% call special meetings.
This call follows the recent Annual Meeting where the proposal called Item 4 nearly passed, falling short by only 71,000 shares amid strong public shareholder support.
Tejon proceeded with a $200 million shelf offering shortly after the annual meeting, without informing shareholders, prompting concerns about potential dilution and the timing ahead of the newly formed board's review.
Glenbrook Chairman Grover Wickersham stated Glenbrook hopes the independent directors will replace opacity with a shareholder-friendly approach and implement the Special Meeting Proposal.
Glenbrook urges the Board to honor the preferences of public shareholders, highlighting the Special Meeting Proposal's strong backing—over 49% support—and endorsements from ISS and Glass Lewis, while raising concerns about Tejon’s track record of shareholder dilution.

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Glenbrook Calls on Tejon's Independent Directors to Act Now to Let Shareholders Call Special Meetings

PALO ALTO, Calif., May 22, 2025 /PRNewswire/ -- Glenbrook Capital Management ("Glenbrook" or "we"), a long-time shareholder of Tejon Ranch Co. (NYSE:TRC) ("Tejon" or the "Company") and owner of approximately 1.1% of outstanding shares of Tejon, today urged Tejon's Board…

7 months ago

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