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A. Schulman opts to add Meyer to special committee in agreement with Barington
By Jennifer Chiou
New York, Oct. 10 - A. Schulman, Inc. entered into an agreement with a group of investors led by Barington Capital Group, LP to expand the membership of its special committee to include director Lee D. Meyer, according to an 8-K filing with the Securities and Exchange Commission.
Meyer was elected to the company's board of directors on Jan. 10, 2008.
The agreement also acknowledges that A. Schulman's chief executive officer and chairman, Joseph M. Gingo, is a non-voting member of the special committee.
A group of A. Schulman investors led by Barington Cos. Equity Partners, LP sold 500 shares on Aug. 29 for $24.42 per share for a total of $12,210, it was reported in a schedule 13D filed with the SEC. The investors beneficially own 2,374,454 shares, or 8.98%, of the Akron, Ohio, plastic resins and plastic compound manufacturer.
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