Franklin Street enters pact with Converium Capital, Erez Asset Management

Franklin Street (FSP) announced that Bruce Schanzer will join the company’s board of directors, effective November 27. In addition, effective November 27, the board will appoint Schanzer to serve as a member of the audit committee. With the addition of Schanzer to the board, effective November 27, the board will be comprised of eight directors, seven of whom are independent. In connection with these changes to the board, the company has entered into a cooperation agreement with Converium Capital and Erez Asset Management, pursuant to which Converium Capital and Erez Asset Management will vote their shares in favor of all of the board’s director nominees at the 2025 annual meeting of stockholders. Under the cooperation agreement, Converium Capital and Erez Asset Management have agreed to customary standstill, voting and other provisions.