Nevro Corp (NVRO) has released an update.
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Nevro Corp. has expanded its board of directors by appointing Kirt P. Karros, in agreement with Engaged Capital, LLC’s affiliates. This move aims to enhance corporate governance, with the Engaged Group retaining certain rights, including director replacement recommendations, under specific ownership conditions. The agreement also involves standstill provisions, limiting the Engaged Group’s actions regarding company stock and governance proposals. Karros, as a new non-employee director, will receive compensation, including restricted stock units and annual cash retainers, and is set to serve until the 2024 annual meeting.
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