Rubric Capital Management Sends Letter To Xperi; Says That After Years Of Underperformance Both Before And After The Spin-Off, Incumbent Directors David Habiger And Darcy Antonellis Cannot Be Trusted To Help Xperi Achieve Its Goals And Deliver Value For Stockholders
Maintains that After Years of Underperformance Both Before and After the Spin-Off, Incumbent Directors David Habiger and Darcy Antonellis Cannot be Trusted to Help Xperi Achieve its Goals and Deliver Value for Stockholders
Presents a Clear and Actionable Plan to Create Meaningful Value
Urges Stockholders to Vote FOR Rubric's Nominees Thomas A. Lacey and Deborah S. Conrad on the WHITE Proxy Card
Rubric Capital Management LP ("Rubric"), an investment advisor whose managed funds and accounts collectively own approximately 9.0% of the outstanding shares of common stock of Xperi Inc. (NYSE:XPER) ("Xperi" or the "Company"), today sent a letter to Xperi stockholders urging them to reject the status quo of value destruction under the current Board of Directors by replacing incumbent directors David Habiger and Darcy Antonellis with Rubric's nominees, Thomas A. Lacey and Deborah S. Conrad, at Xperi's Annual Meeting of Stockholders, which is scheduled to be held on May 24, 2024.