Lantronix (LTRX) has shared an update.
Lantronix, Inc. has struck a cooperation deal with 180 Degree Capital, agreeing to nominate Narbeh Derhacobian and Kevin Palatnik for its Board of Directors at the upcoming annual stockholders’ meeting, with a commitment to support their election. The agreement includes terms for replacing any New Director who can no longer serve, with 180 Degree Capital’s support contingent on their ownership stake. The pact, which restricts 180 Degree Capital from certain actions and acquisitions, is initially set to expire prior to the 2025 stockholder nomination deadline but may extend if conditions are met. In accordance, Jason Cohenour and Phu Hoang will not seek re-election, a move unrelated to any company dispute. The company has publicly announced the agreement.
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