DMC Global enters cooperation agreement with Bradley Radoff

DMC Global announced that the Company has entered into a cooperation agreement with Bradley L. Radoff and his affiliate, pursuant to which the Company and the Radoff Parties will identify and mutually agree to appoint a new independent director to the board of directors of DMC with expertise and experience in the building products sector. Pursuant to the terms of Cooperation Agreement, the Board will promptly commence a formal search for qualified director candidates, in accordance with DMC’s established process for director recruitment and with the aid of a nationally recognized executive search firm. Prior to entering into the Cooperation Agreement, consistent with the Board’s refreshment practices and its retirement policy contained in DMC’s Corporate Governance Guidelines, the Board determined that Robert Cohen and Richard Graff will not be renominated for election at the 2024 Annual Meeting. As a result, effective as of the 2024 Annual Meeting, the size of the Board will be reduced to seven directors, subject to increase for the appointment of the new independent director. The Radoff Parties have agreed to certain customary provisions, including standstill and voting obligations.