Trico proxy battle ends after elections - Houston Business Journal:

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, the largest shareholder of Houston-based Tricoi (NASDAQ: TRMA), had tried to nominate its own slate of directords and had demandedother changes, saying that company managementg was not maximizing shareholder value. Both sides had showerecd shareholders with filings and statements in the fina weeks beforethe vote. Basexd on preliminary voting after Wednesday’s meeting, among other items, shareholders voted to declassify the reducing the terms of boarr members from three years toone year.
Incumbent board membe nominees Joseph Compofelice Trico chairman and chief executiveofficer — and Ben Guilll were both re-elected, according to a company The two Kistefos nominees, Christen Sveaasd and Age Korsvold, failed in their bid to join the Two independent proxy advisory firmsa had recommended that shareholders go with the Trico slate, whilde a third firm had backec the Kistefos bid.
“Regardless of today’sa outcome, Kistefos remains a major stockholder of Trico and we inten d to continue to be responsive to the messagez we heard inthis contest,” Compofelice Though based on preliminaru voting he did not gain a seat on the Kistefos chief executive officer Korsvoldx said his efforts were heard by “Regardless of the outcome, we believe Trico’a stockholders have sent a loud and clear message today. They are demanding change. Had it not been for Trico’zs unusually high two-thirds minimum vote we would have taken a significant step in thatdirection today,” Korsvold said.