Merit Medical System To Review Starboard's Directors Nomination Notice

(RTTNews) - Merit Medical Systems Inc. (MMSI) said that its Environmental, Social and Governance Committee will review Starboard Value's notice of directors nomination. The Board will present its recommendations regarding director nominations in due course. Merit shareholders do not need to take action at this time.

Merit Medical Systems confirmed that it has received notice from Starboard Value LP that it has nominated seven individuals to stand for election as directors at Merit's 2020 Annual Meeting of Shareholders. In its notice to Merit, Starboard indicated that it intends to withdraw four of its seven nominees if there are only three seats on Merit's Board to be filled at the Annual Meeting. The date of the Annual Meeting has not yet been set.

On January 21, 2020, Merit announced that Kent Stanger, co-founder and former Merit CFO, will not stand for re-election at the upcoming Annual Meeting. As a result, Merit will reduce the size of its Board to nine directors effective as of the Annual Meeting.