ISS and Glass Lewis support Zevra Therapeutics’ ‘transformation strategy’

Zevra Therapeutics announced that leading proxy advisory firms Institutional Shareholder Services and Glass Lewis & Co. have voiced their support for Zevra’s nominees and strategy and found that Mangless’ arguments and nominees were not compelling. The Company urges its shareholder to vote on the WHITE proxy card "FOR" all three nominees – Richard W. Pascoe, David S. Tierney, M.D., and Christopher M. Posner. Votes must be cast during or prior to the Company’s upcoming Annual Meeting of Shareholders , which is scheduled for April 25, 2023. In making its recommendation, Glass Lewis stated in its April 7 report : "when considering the promulgated alternative to maintenance of the status quo, we do not believe the Dissident has presented investors with a sufficiently persuasive case at this time. "we are ultimately inclined to share the board’s view, noting, in particular, that Mr. Mangless’ materials to date have been somewhat thin on detail, have failed to grapple more directly with Dr. Mickle’s opposition to both the current campaign and central components of the dissenting thesis and have not presented what we consider to be compelling plans or persuasive arguments in favor of the Dissident nominees" In making its recommendation for the re-election of all of Zevra’s nominees, "[I]nvestors would ultimately be better served supporting the incumbent Zevra nominees at this time" In reference to Mangless’ director nominees, "[T]he Dissident has ultimately advanced a slate which appears to lack decisively strong industry and public company bona fides, which, in our view, raises meaningful questions around the appeal of supporting the Dissident candidates at this time"