[PQ] GRND: Margin Calls & Acquisitions
Grindr received a non-binding $18-per-share acquisition offer.
Substack
Nongaap Investing
Everything we have picked from this writer, newest first.
[PQ] VZ: New CEO Announced
Verizon appointed its independent lead director as CEO.
[P] ESTC: Elastic Vesting Goals
Elastic’s vesting goals reveal what management is incentivizing.
[P] BLND: Non-GAAP Research Hour
Blend Labs governance discussion focuses on reverse-engineering non-GAAP signals of upside.
[P] UNH: Itemized Governance Signals
UnitedHealth Group's governance disclosures are assessed for investment signals.
[P] NSP: Inspirational or Attainable Goals?
Insperity's special equity awards raise questions about the goals and incentives behind the grants.
[P] TENB: Tenable Reasons to Sell
Tenable Holdings faces a potential sale, with attention on M&A signals around the cybersecurity software company.
[P] HUBS: CiC Returns Management
HubSpot’s executive severance plan governs payouts following a change in control.
ILMN: Activism! Part Deux
Illumina appointed activist Keith Meister to its board as an SEC investigation into the Grail acquisition raises questions over 122.5…
[P] ILMN: Activist In, Chairman Out
Illumina adds activist Keith Meister to its board as Chairman Stephan Macmillan resigns.
[P] HSY: Re-Molding Hershey
Hershey’s recent company filings are reassessed as the confectioner reshapes its business.
[P] TENB: Tenable Governance
Tenable faces CEO succession under difficult circumstances, putting its governance and leadership transition in focus.
[P] SPHR: Sphere-Priced Incentives
Sphere Entertainment’s incentives are priced around Sphere.
[P] VYX: Checking Out in 2025? (Part 4)
VYX appointed Executive Chair James Kelly as CEO.
[P] VYX: Checking Out in 2025? (Part 3)
VYX executive chair James Kelly replaces David Wilkinson as CEO.
[PQ] PLTK: Playing Bad (Governance) Odds
Playtika's governance is so poor it may create a contrarian opportunity.
