Tejon Ranch says proxy advisory firms recommend shareholders vote for nominees

Tejon Ranch (TRC) Co. announced that Glass Lewis & Co. has joined Institutional Shareholder Services in recommending that shareholders vote “FOR” ONLY Tejon’s 10 highly-qualified director nominees on the Company’s WHITE Proxy Card in connection with its Annual Meeting of Shareholders scheduled for May 13, 2025. In its May 3, 2025, report, Glass Lewis recommended Tejon shareholders: Vote “FOR” all 10 of the Company’ director nominees on the WHITE card. “WITHHOLD” on all Bulldog Investor nominees, noting that these persons lack “appropriate industry experience that would be additive to the current board of directors.” In its May 2, 2025, report, ISS recommended Tejon shareholders: Vote “FOR” all 10 of the Company’s nominees, as Bulldog “has not presented a compelling case for change. As such, support for all management nominees is warranted on the management card.” “WITHHOLD” on all Bulldog nominees given “the dissident does not even provide a public view on which management nominees it hopes to unseat, and two of the dissident’s three nominees are already overboarded. As such, the dissident has not presented a compelling case for change.”